D.A. Davidson & CO. Acquires Shares of 48,383 Best Buy Co., Inc. $BBY

D.A. Davidson & CO. bought a new position in Best Buy Co., Inc. (NYSE:BBY) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 48,383 shares of the technology retailer’s stock, valued at approximately $3,106,000.

A number of other institutional investors have also recently modified their holdings of BBY. AQR Capital Management LLC increased its holdings in shares of Best Buy by 99.8% during the third quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock valued at $525,120,000 after acquiring an additional 3,496,254 shares in the last quarter. Norges Bank bought a new position in Best Buy in the 4th quarter worth about $174,685,000. Schroder Investment Management Group grew its position in Best Buy by 378.8% during the 4th quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer’s stock valued at $207,216,000 after purchasing an additional 2,449,342 shares during the last quarter. Hsbc Holdings PLC increased its stake in Best Buy by 104.1% during the 4th quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer’s stock valued at $135,685,000 after purchasing an additional 1,030,544 shares in the last quarter. Finally, KBC Group NV increased its stake in Best Buy by 293.6% during the 4th quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer’s stock valued at $70,464,000 after purchasing an additional 785,294 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BBY has been the topic of several analyst reports. Loop Capital downgraded shares of Best Buy from a “buy” rating to a “hold” rating and set a $82.00 target price on the stock. in a research note on Monday, July 13th. Telsey Advisory Group set a $90.00 price target on shares of Best Buy and gave the company an “outperform” rating in a research report on Friday, May 29th. The Goldman Sachs Group boosted their price objective on shares of Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a report on Friday, May 29th. Wall Street Zen cut Best Buy from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Guggenheim reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and a consensus price target of $79.50.

Best Buy Price Performance

BBY opened at $85.75 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. The stock has a market capitalization of $18.07 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.27 and a beta of 1.30. The company’s 50-day simple moving average is $72.71 and its two-hundred day simple moving average is $67.57. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $87.35.

Best Buy (NYSE:BBY) last announced its quarterly earnings results 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 net margin of 2.73% and a return on equity of 48.70%. The firm had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter last year, the firm posted $1.15 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, analysts predict that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were issued a $0.96 dividend. The ex-dividend date was Thursday, June 18th. This represents a $3.84 annualized dividend and a yield of 4.5%. Best Buy’s dividend payout ratio (DPR) is currently 71.11%.

Insider Buying and Selling

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $73.80, for a total value of $131,659.20. Following the completion of the sale, the chief accounting officer owned 21,630 shares of the company’s stock, valued at approximately $1,596,294. The trade was a 7.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 224,705 shares of the business’s stock in a transaction 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 sale, the chairman owned 10,430,936 shares of the company’s stock, valued at approximately $814,656,101.60. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,002,134 shares of company stock valued at $77,283,527. 0.50% of the stock is currently owned by insiders.

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.