Elevated Capital Advisors LLC Buys 8,940 Shares of Best Buy Co., Inc. $BBY

Elevated Capital Advisors LLC lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 3,903.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,169 shares of the technology retailer’s stock after acquiring an additional 8,940 shares during the period. Elevated Capital Advisors LLC’s holdings in Best Buy were worth $589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BBY. Vanguard Group Inc. increased its stake in Best Buy by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer’s stock valued at $1,623,409,000 after purchasing an additional 307,905 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Best Buy by 30.9% during the 4th quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer’s stock worth $613,001,000 after purchasing an additional 2,160,968 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Best Buy by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer’s stock valued at $498,805,000 after buying an additional 160,713 shares during the period. Invesco Ltd. grew its stake in shares of Best Buy by 6.1% in the 4th quarter. Invesco Ltd. now owns 4,732,080 shares of the technology retailer’s stock valued at $316,718,000 after buying an additional 271,988 shares during the period. Finally, Morgan Stanley increased its position in Best Buy by 19.1% in the 4th quarter. Morgan Stanley now owns 3,778,294 shares of the technology retailer’s stock valued at $252,881,000 after buying an additional 605,911 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Insider Transactions at Best Buy

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $73.80, for a total value of $131,659.20. Following the transaction, the chief accounting officer directly owned 21,630 shares in the company, valued at $1,596,294. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard M. Schulze sold 224,705 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the transaction, the chairman directly owned 10,430,936 shares of the company’s stock, valued at $814,656,101.60. This represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,002,134 shares of company stock valued at $77,283,527 in the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Best Buy Stock Performance

Shares of Best Buy stock opened at $82.97 on Friday. The business’s fifty day simple moving average is $70.16 and its 200 day simple moving average is $67.07. 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. The firm has a market capitalization of $17.49 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 2.13 and a beta of 1.30.

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

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, June 18th. This represents a $3.84 annualized dividend and a yield of 4.6%. Best Buy’s dividend payout ratio is presently 71.11%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wall Street Zen downgraded Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Evercore raised their price objective on Best Buy from $65.00 to $85.00 in a research note on Friday, May 29th. Citigroup upped their target price on Best Buy from $60.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Morgan Stanley increased their target price on Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Finally, BNP Paribas Exane lifted their price target on shares of Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Best Buy has a consensus rating of “Hold” and a consensus price target of $79.50.

Best Buy 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.