Stance Capital LLC Purchases 27,524 Shares of Best Buy Co., Inc. $BBY

Stance Capital LLC boosted its position in Best Buy Co., Inc. (NYSE:BBY) by 4,696.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 28,110 shares of the technology retailer’s stock after purchasing an additional 27,524 shares during the period. Stance Capital LLC’s holdings in Best Buy were worth $1,881,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Torren Management LLC acquired a new position in shares of Best Buy during the 4th quarter worth approximately $25,000. MV Capital Management Inc. bought a new position in Best Buy during the fourth quarter worth $25,000. Palisade Asset Management LLC acquired a new position in shares of Best Buy in the third quarter valued at $25,000. Hillsdale Investment Management Inc. bought a new position in shares of Best Buy in the fourth quarter valued at about $29,000. Finally, Quest 10 Wealth Builders Inc. lifted its stake in shares of Best Buy by 239.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock worth $30,000 after buying an additional 311 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on BBY shares. JPMorgan Chase & Co. lifted their target price on shares of Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Evercore raised their price objective on shares of Best Buy from $65.00 to $85.00 in a research report on Friday, May 29th. Loop Capital boosted their price objective on Best Buy from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Wedbush increased their target price on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, KeyCorp reissued a “sector weight” rating on shares of Best Buy in a report on Wednesday, March 4th. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Best Buy presently has an average rating of “Hold” and an average target price of $79.05.

Insider Buying and Selling

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the firm’s stock in a transaction on 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 $1,596,294. This trade represents a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathleen Scarlett sold 8,049 shares of Best Buy stock in a transaction on Monday, March 23rd. The shares were 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. This represents a 7.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 660,780 shares of company stock valued at $49,530,325 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Best Buy Price Performance

NYSE:BBY opened at $74.89 on Friday. 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 cap of $15.78 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.99 and a beta of 1.30. The firm’s 50-day simple moving average is $65.59 and its 200 day simple moving average is $66.62. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12.

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

Best Buy Announces Dividend

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

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.