Osmosis Investment Management UK Ltd Buys New Stake in Best Buy Co., Inc. $BBY

Osmosis Investment Management UK Ltd bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 30,749 shares of the technology retailer’s stock, valued at approximately $2,333,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in shares of Best Buy during the 4th quarter valued at about $25,000. MV Capital Management Inc. purchased a new stake in shares of Best Buy in the fourth quarter worth about $25,000. Palisade Asset Management LLC acquired a new stake in Best Buy during the third quarter worth about $25,000. Hillsdale Investment Management Inc. acquired a new stake in Best Buy during the fourth quarter worth about $29,000. Finally, Quest 10 Wealth Builders Inc. raised its position in Best Buy by 239.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock valued at $30,000 after acquiring an additional 311 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the stock in a transaction 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 transaction, the chief accounting officer directly owned 21,630 shares of the company’s stock, valued at $1,596,294. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 500,350 shares of Best Buy stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $76.12, for a total transaction of $38,086,642.00. Following the completion of the sale, the chairman owned 10,930,586 shares in the company, valued at approximately $832,036,206.32. This trade represents a 4.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,002,134 shares of company stock valued at $77,283,527 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BBY has been the subject of a number of analyst reports. Daiwa Securities Group boosted their price target on Best Buy from $68.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. BNP Paribas Exane lifted their target price on shares of Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Wedbush boosted their target price on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Wells Fargo & Company boosted their target price on shares of Best Buy from $65.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group raised 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. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.10.

Best Buy Stock Up 0.2%

Shares of BBY opened at $86.07 on Monday. The firm has a market cap of $18.14 billion, a P/E ratio of 15.94, a PEG ratio of 2.47 and a beta of 1.29. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $91.26. The stock’s 50 day moving average is $82.15 and its two-hundred day moving average is $70.76. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY) last announced its earnings results 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. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The business had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the prior year, the company posted $1.15 EPS. The business’s quarterly 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. Analysts predict that Best Buy Co., Inc. will post 6.57 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a yield of 4.5%. Best Buy’s dividend payout ratio is currently 71.11%.

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.