Impact Partnership Wealth LLC Increases Holdings in Best Buy Co., Inc. $BBY

Impact Partnership Wealth LLC lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 196.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,084 shares of the technology retailer’s stock after purchasing an additional 10,654 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Best Buy were worth $1,077,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Best Buy during the 4th quarter valued at about $174,685,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Best Buy during the 4th quarter valued at about $38,556,000. Hillsdale Investment Management Inc. purchased a new position in shares of Best Buy during the 4th quarter valued at about $29,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Best Buy during the 4th quarter valued at about $53,000. Finally, National Pension Service raised its holdings in shares of Best Buy by 43.5% during the 4th quarter. National Pension Service now owns 161,607 shares of the technology retailer’s stock valued at $10,816,000 after buying an additional 49,003 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Price Performance

Shares of Best Buy stock opened at $78.16 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.43. The business’s 50 day simple moving average is $62.29 and its two-hundred day simple moving average is $66.88. The stock has a market capitalization of $16.47 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $84.99.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts forecast that Best Buy Co., Inc. will post 6.5 EPS for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, June 18th. Best Buy’s payout ratio is 71.11%.

Insiders Place Their Bets

In other news, insider Todd G. Hartman sold 5,339 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $341,802.78. Following the transaction, the insider directly owned 44,098 shares of the company’s stock, valued at approximately $2,823,153.96. The trade was a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew M. Bilunas sold 11,356 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $727,011.12. Following the transaction, the chief financial officer directly owned 76,884 shares in the company, valued at $4,922,113.68. This trade represents a 12.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 77,247 shares of company stock worth $4,945,353. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BBY has been the topic of a number of recent research reports. DA Davidson reaffirmed a “buy” rating and set a $78.00 price objective on shares of Best Buy in a research note on Friday. Daiwa Securities Group dropped their target price on Best Buy from $80.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, March 5th. The Goldman Sachs Group increased their target price on Best Buy from $59.00 to $62.00 and gave the company a “sell” rating in a report on Friday. HSBC dropped their target price on Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. Finally, Truist Financial lifted their price target on Best Buy from $66.00 to $81.00 and gave the stock a “hold” rating in a research note on Friday. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.60.

More Best Buy News

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy reported Q1 adjusted EPS of $1.28, above estimates of $1.22, and revenue of $8.94 billion, also ahead of forecasts, with comparable sales rising 2.0%. Best Buy Q1 Earnings Beat Estimates, Comparable Sales Rise 2%
• Positive Sentiment: The company reaffirmed its full-year guidance and highlighted improving margins and stronger demand in gaming, computing, and cellphones, suggesting the turnaround is gaining traction. Best Buy Reports First Quarter Results
• Positive Sentiment: Several analyst firms raised price targets after the earnings release, including Jefferies, Loop Capital, Guggenheim, Morgan Stanley, Citigroup, and others, indicating improving sentiment around the stock. Analyst rating updates
• Positive Sentiment: Retail-industry news also pointed to selective consumer spending still favoring value-focused names like Best Buy, adding to the rally. Retail Rally Sends Kohl’s, Best Buy, Dollar Tree Up As Much As 18%
• Neutral Sentiment: DA Davidson reaffirmed its buy rating but set a $78 price target, which is roughly in line with the current share price and does not materially change the valuation debate. DA Davidson rating reaffirmation
• Neutral Sentiment: Best Buy also announced a quarterly dividend of $0.96 per share, reinforcing its income appeal for investors. Dividend announcement

About Best Buy

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.