One Wealth Advisors LLC Makes New $682,000 Investment in Best Buy Co., Inc. $BBY

One Wealth Advisors LLC purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the second quarter, Holdings Channel.com reports. The fund purchased 8,989 shares of the technology retailer’s stock, valued at approximately $682,000.

A number of other institutional investors also recently made changes to their positions in BBY. Summit Global Investments bought a new position in shares of Best Buy in the second quarter valued at approximately $246,000. Trust Asset Management LLC bought a new stake in Best Buy during the second quarter worth approximately $165,000. Tema ETFs LLC raised its holdings in Best Buy by 6.5% during the second quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock worth $179,000 after purchasing an additional 145 shares in the last quarter. KMG Fiduciary Partners LLC lifted its position in Best Buy by 362.2% in the second quarter. KMG Fiduciary Partners LLC now owns 20,098 shares of the technology retailer’s stock worth $1,525,000 after purchasing an additional 15,750 shares during the period. Finally, LVM Capital Management Ltd. MI acquired a new stake in Best Buy in the second quarter worth approximately $600,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Best Buy from $79.00 to $88.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler restated a “neutral” rating and issued a $77.00 price objective on shares of Best Buy in a report on Thursday, May 28th. Truist Financial raised Best Buy from a “hold” rating to a “buy” rating and raised their target price for the company from $81.00 to $95.00 in a research note on Tuesday. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a report on Monday, June 22nd. Finally, Jefferies Financial Group cut shares of Best Buy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $89.00 to $85.00 in a research report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and a consensus target price of $82.70.

Insiders Place Their Bets

In other news, CAO Mathew Watson sold 1,784 shares of the company’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 completion of the sale, the chief accounting officer directly owned 21,630 shares of the company’s stock, valued at $1,596,294. This represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 224,705 shares of the stock in a transaction on Friday, June 26th. The shares were 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 $814,656,101.60. This trade represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,002,134 shares of company stock worth $77,283,527 over the last ninety days. 0.50% of the stock is owned by insiders.

Best Buy Trading Up 1.4%

Shares of NYSE:BBY opened at $86.54 on Friday. 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 capitalization of $18.24 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.49 and a beta of 1.29. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $91.26. The company has a 50 day moving average price of $81.10 and a 200 day moving average price of $69.99.

Best Buy (NYSE:BBY) last posted 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 quarter in the prior year, the company earned $1.15 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, research analysts anticipate that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced 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 4.4%. Best Buy’s payout ratio is 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.