Best Buy Co., Inc. $BBY Holdings Raised by IFM Investors Pty Ltd

IFM Investors Pty Ltd lifted its stake in Best Buy Co., Inc. (NYSE:BBY) by 13.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,157 shares of the technology retailer’s stock after acquiring an additional 7,982 shares during the period. IFM Investors Pty Ltd’s holdings in Best Buy were worth $4,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of BBY. Impact Partnership Wealth LLC increased its holdings in shares of Best Buy by 7.2% in the first quarter. Impact Partnership Wealth LLC now owns 17,245 shares of the technology retailer’s stock valued at $1,107,000 after buying an additional 1,161 shares in the last quarter. Caliber Wealth Management LLC KS raised its stake in shares of Best Buy by 3.2% in the 1st quarter. Caliber Wealth Management LLC KS now owns 42,882 shares of the technology retailer’s stock valued at $2,753,000 after acquiring an additional 1,330 shares in the last quarter. Tred Avon Family Wealth LLC acquired a new stake in shares of Best Buy in the first quarter valued at about $690,000. Apollon Wealth Management LLC increased its position in Best Buy by 46.9% during the first quarter. Apollon Wealth Management LLC now owns 6,704 shares of the technology retailer’s stock worth $430,000 after acquiring an additional 2,141 shares during the period. Finally, Patton Fund Management Inc. bought a new stake in shares of Best Buy in the 1st quarter worth approximately $285,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on BBY. The Goldman Sachs Group boosted their price target on shares of Best Buy from $59.00 to $62.00 and gave the company a “sell” rating in a research report on Friday, May 29th. UBS Group reissued a “neutral” rating and issued a $86.00 price target (up from $85.00) on shares of Best Buy in a research note on Friday, May 29th. Weiss Ratings upgraded shares of Best Buy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Evercore boosted their price target on Best Buy from $65.00 to $85.00 in a research report on Friday, May 29th. Finally, Guggenheim reiterated a “buy” rating and issued a $90.00 target price on shares of Best Buy in a research note on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $79.50.

Best Buy Price Performance

Shares of NYSE BBY opened at $77.81 on Friday. The stock has a market capitalization of $16.40 billion, a PE ratio of 14.41, a P/E/G ratio of 2.08 and a beta of 1.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $84.99. The business has a fifty day moving average price of $68.18 and a two-hundred day moving average price of $66.81.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. The firm had revenue of $8.94 billion for 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 quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, equities analysts predict that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.9%. The ex-dividend date is Thursday, June 18th. Best Buy’s dividend payout ratio is 71.11%.

Insider Activity at Best Buy

In other news, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction on Friday, May 29th. The shares were sold at an average price of $73.80, for a total transaction of $131,659.20. Following the transaction, the chief accounting officer owned 21,630 shares in the company, valued at approximately $1,596,294. The trade was a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard M. Schulze sold 500,350 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $76.12, for a total transaction of $38,086,642.00. Following the completion of the sale, the chairman directly owned 10,930,586 shares in the company, valued at approximately $832,036,206.32. This represents a 4.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,002,134 shares of company stock valued at $77,283,527. Corporate insiders own 0.50% of the company’s stock.

Best Buy Company Profile

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.