KMG Fiduciary Partners LLC Has $1.52 Million Holdings in Best Buy Co., Inc. $BBY

KMG Fiduciary Partners LLC grew its stake in Best Buy Co., Inc. (NYSE:BBY) by 362.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,098 shares of the technology retailer’s stock after acquiring an additional 15,750 shares during the period. KMG Fiduciary Partners LLC’s holdings in Best Buy were worth $1,525,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in shares of Best Buy by 99.8% in 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 purchasing an additional 3,496,254 shares in the last quarter. Norges Bank bought a new position in Best Buy in the 4th quarter valued at $174,685,000. Schroder Investment Management Group boosted its position in Best Buy by 378.8% in 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 buying an additional 2,449,342 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Best Buy by 104.1% in the 4th quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer’s stock valued at $135,685,000 after buying an additional 1,030,544 shares during the period. Finally, KBC Group NV increased its stake in shares of Best Buy by 293.6% in the 4th quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer’s stock valued at $70,464,000 after buying an additional 785,294 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BBY shares. Weiss Ratings raised Best Buy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price objective on Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. The Goldman Sachs Group upped their target price 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. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a research note on Monday, June 22nd. Finally, Telsey Advisory Group lifted their price target on shares of Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $80.55.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 224,705 shares of the firm’s stock in a transaction that occurred 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 directly owned 10,430,936 shares in the company, valued at approximately $814,656,101.60. This trade represents a 2.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $131,659.20. Following the completion of the transaction, the chief accounting officer directly owned 21,630 shares in the company, valued at approximately $1,596,294. The trade was a 7.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,002,134 shares of company stock worth $77,283,527. 0.50% of the stock is currently owned by insiders.

Best Buy Stock Up 0.6%

Shares of NYSE BBY opened at $82.47 on Tuesday. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $91.26. 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 cap of $17.38 billion, a P/E ratio of 15.27, a P/E/G ratio of 2.36 and a beta of 1.29. The firm has a 50 day moving average price of $80.08 and a 200 day moving average price of $69.51.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping 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 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 posted $1.15 earnings per share. 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. Analysts expect that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were given a dividend of $0.96 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.7%. Best Buy’s dividend payout ratio (DPR) is currently 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.