Aigen Investment Management LP Buys New Stake in Best Buy Co., Inc. $BBY

Aigen Investment Management LP bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,039 shares of the technology retailer’s stock, valued at approximately $1,542,000.

Other institutional investors also recently bought and sold shares of the company. Torren Management LLC purchased a new position in Best Buy during the fourth quarter valued at $25,000. Palisade Asset Management LLC purchased a new position in Best Buy during the third quarter valued at $25,000. Hillsdale Investment Management Inc. purchased a new position in Best Buy during the fourth quarter valued at $29,000. Quest 10 Wealth Builders Inc. lifted its position in Best Buy by 239.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock valued at $30,000 after purchasing an additional 311 shares during the last quarter. Finally, Activest Wealth Management lifted its position in Best Buy by 1,247.1% during the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 424 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BBY has been the subject of several research reports. Guggenheim reiterated a “buy” rating and set a $90.00 price objective on shares of Best Buy in a research report on Friday, May 29th. Morgan Stanley increased their price objective on shares of Best Buy from $72.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. increased their price objective on shares of Best Buy from $76.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. UBS Group reiterated a “neutral” rating and set a $86.00 price objective (up from $85.00) on shares of Best Buy in a research report on Friday, May 29th. Finally, Wedbush increased their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $79.05.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 500,350 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $76.12, for a total value of $38,086,642.00. Following the transaction, the chairman owned 10,930,586 shares of the company’s stock, valued at $832,036,206.32. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Corie S. Barry sold 42,869 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $2,744,473.38. Following the completion of the transaction, the chief executive officer directly owned 523,138 shares in the company, valued at $33,491,294.76. This represents a 7.57% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 579,381 shares of company stock worth $43,163,654. 0.47% of the stock is currently owned by insiders.

Best Buy Price Performance

Best Buy stock opened at $78.70 on Friday. The firm has a 50-day moving average price of $64.51 and a 200-day moving average price of $66.77. The firm has a market capitalization of $16.59 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.09 and a beta of 1.30. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $84.99.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.05. The firm had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.82 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Thursday, June 18th. Best Buy’s dividend payout ratio (DPR) is 71.11%.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.