8,912 Shares in Best Buy Co., Inc. $BBY Bought by TMB Capital Partners LLC

TMB Capital Partners LLC acquired a new position in Best Buy Co., Inc. (NYSE:BBY) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,912 shares of the technology retailer’s stock, valued at approximately $596,000.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Daiwa Securities Group increased their price target on Best Buy from $68.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 2nd. KeyCorp restated a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 4th. The Goldman Sachs Group upped 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. Morgan Stanley increased their target price 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. Finally, Evercore raised their target price on shares of Best Buy from $65.00 to $85.00 in a research note 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $79.05.

Insider Activity

In other Best Buy news, EVP Jason J. Bonfig sold 6,336 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $405,630.72. Following the sale, the executive vice president directly owned 79,137 shares in the company, valued at approximately $5,066,350.74. The trade was a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew M. Bilunas sold 11,356 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $727,011.12. Following the completion of the sale, the chief financial officer directly owned 76,884 shares of the company’s stock, valued at $4,922,113.68. The trade was a 12.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 660,780 shares of company stock valued at $49,530,325 over the last quarter. Insiders own 0.50% of the company’s stock.

Best Buy Stock Performance

Shares of NYSE BBY opened at $74.89 on Friday. The stock has a fifty day moving average price of $65.39 and a two-hundred day moving average price of $66.56. 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 firm has a market cap of $15.78 billion, a P/E ratio of 13.87, a PEG ratio of 1.95 and a beta of 1.30. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $84.99.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period last year, the firm earned $1.15 EPS. The firm’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. Research analysts forecast that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Thursday, June 18th. Best Buy’s payout ratio is presently 71.11%.

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.