Best Buy Co., Inc. $BBY Holdings Lifted by Ieq Capital LLC

Ieq Capital LLC increased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 45.4% in the 4th quarter, Holdings Channel reports. The fund owned 578,260 shares of the technology retailer’s stock after purchasing an additional 180,538 shares during the period. Ieq Capital LLC’s holdings in Best Buy were worth $38,703,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Woodline Partners LP lifted its position in Best Buy by 40.1% in the 1st quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock worth $1,210,000 after buying an additional 4,701 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Best Buy by 4.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer’s stock valued at $1,984,000 after acquiring an additional 1,234 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in shares of Best Buy by 127.7% during the 2nd quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer’s stock valued at $872,000 after acquiring an additional 7,288 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Best Buy by 32.0% in the second quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer’s stock worth $21,051,000 after acquiring an additional 76,102 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Best Buy by 177.1% in the second quarter. Quantinno Capital Management LP now owns 167,177 shares of the technology retailer’s stock worth $11,223,000 after acquiring an additional 106,848 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Performance

Best Buy stock opened at $78.70 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40. The stock has a fifty day moving average price of $64.51 and a two-hundred day moving average price of $66.77. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $84.99. The firm has a market capitalization of $16.59 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.05 and a beta of 1.30.

Best Buy (NYSE:BBY) last released its quarterly earnings data 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. 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 analyst estimates of $8.82 billion. During the same period in the prior year, the company posted $1.15 earnings per share. The business’s revenue for the quarter 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 anticipate that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.

Best Buy Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BBY shares. BNP Paribas Exane raised their price target on Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Loop Capital boosted their price target on Best Buy from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Truist Financial increased their price objective on Best Buy from $66.00 to $81.00 and gave the stock a “hold” rating in a report on Friday, May 29th. HSBC reduced their target price on shares of Best Buy from $96.00 to $85.00 in a research note on Thursday, February 26th. Finally, UBS Group reissued a “neutral” rating and issued a $86.00 target price (up from $85.00) on shares of Best Buy in a research report on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.05.

Insider Buying and Selling

In related news, EVP Kathleen Scarlett sold 8,049 shares of Best Buy stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $515,296.98. Following the completion of the transaction, the executive vice president directly owned 102,669 shares of the company’s stock, valued at $6,572,869.38. The trade was a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mathew Watson sold 1,784 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was 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. This trade represents a 7.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 579,381 shares of company stock valued at $43,163,654 in the last 90 days. 0.47% of the stock is owned by corporate 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.