Personal CFO Solutions LLC Boosts Stake in Best Buy Co., Inc. $BBY

Personal CFO Solutions LLC grew its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 249.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,061 shares of the technology retailer’s stock after buying an additional 9,327 shares during the quarter. Personal CFO Solutions LLC’s holdings in Best Buy were worth $851,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BBY. Krane Funds Advisors LLC grew its holdings in shares of Best Buy by 3.0% in the fourth quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock valued at $346,000 after acquiring an additional 151 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in Best Buy by 0.9% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock worth $1,114,000 after acquiring an additional 152 shares during the period. Applied Finance Capital Management LLC boosted its position in Best Buy by 3.8% in the fourth quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock worth $286,000 after purchasing an additional 157 shares during the last quarter. International Private Wealth Advisors LLC boosted its position in Best Buy by 5.2% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock worth $224,000 after purchasing an additional 165 shares during the last quarter. Finally, J. Team Financial Inc. grew its stake in Best Buy by 4.2% in the 4th quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer’s stock valued at $285,000 after purchasing an additional 171 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 2.4%

BBY opened at $79.92 on Friday. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $84.99. The company has a market cap of $16.84 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.30. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average of $69.68 and a 200 day moving average of $66.96.

Best Buy (NYSE:BBY) last issued its 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. The business had revenue of $8.94 billion for 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 for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Thursday, June 18th. Best Buy’s payout ratio is presently 71.11%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BBY shares. Evercore raised their target price on Best Buy from $65.00 to $85.00 in a research report on Friday, May 29th. The Goldman Sachs Group increased their price target on shares of Best Buy from $59.00 to $62.00 and gave the company a “sell” rating in a research report on Friday, May 29th. UBS Group restated a “neutral” rating and set a $86.00 price objective (up from $85.00) on shares of Best Buy in a report on Friday, May 29th. Wedbush lifted their price objective on shares of Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Best Buy from $76.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Six equities research 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, Best Buy has an average rating of “Hold” and an average price target of $79.50.

Insider Transactions at Best Buy

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 224,705 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $78.10, for a total value of $17,549,460.50. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,002,134 shares of company stock worth $77,283,527 in the last three months. 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.