Best Buy Co., Inc. $BBY Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in Best Buy Co., Inc. (NYSE:BBY) by 223.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 64,445 shares of the technology retailer’s stock after buying an additional 44,494 shares during the quarter. SG Americas Securities LLC’s holdings in Best Buy were worth $4,313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BBY. Harbor Capital Advisors Inc. increased its stake in shares of Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after buying an additional 138 shares during the period. Palisade Asset Management LLC purchased a new position in Best Buy in the third quarter worth approximately $25,000. Root Financial Partners LLC purchased a new position in Best Buy in the third quarter worth approximately $32,000. CYBER HORNET ETFs LLC acquired a new position in Best Buy during the 2nd quarter worth approximately $33,000. Finally, MUFG Securities EMEA plc acquired a new position in Best Buy during the 2nd quarter worth approximately $38,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Trading Up 0.4%

Shares of Best Buy stock opened at $64.44 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.43 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $64.85 and a 200-day simple moving average of $71.28. The stock has a market cap of $13.47 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.58 and a beta of 1.35. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $84.99.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, topping the consensus estimate of $2.48 by $0.13. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The firm had revenue of $13.81 billion for the quarter, compared to analyst estimates of $13.96 billion. During the same period last year, the business earned $2.58 EPS. Best Buy’s revenue for the quarter was down 1.0% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.0%. This is an increase from Best Buy’s previous quarterly dividend of $0.95. The ex-dividend date is Tuesday, March 24th. Best Buy’s payout ratio is presently 76.19%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BBY. HSBC reduced their price objective on shares of Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. Barclays dropped their target price on Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. DA Davidson set a $78.00 price target on Best Buy in a research note on Thursday, March 5th. The Goldman Sachs Group decreased their price target on Best Buy from $93.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, BNP Paribas Exane increased their price objective on Best Buy from $68.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, March 4th. Nine analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Best Buy presently has a consensus rating of “Hold” and an average price target of $75.95.

Insider Buying and Selling at Best Buy

In other news, EVP Jason J. Bonfig sold 6,336 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $405,630.72. Following the completion of the sale, the executive vice president directly owned 79,137 shares of the company’s stock, valued at approximately $5,066,350.74. The trade was a 7.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathleen Scarlett sold 8,049 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $515,296.98. Following the completion of the sale, the executive vice president directly owned 102,669 shares of the company’s stock, valued at approximately $6,572,869.38. This trade represents a 7.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 77,247 shares of company stock valued at $4,945,353. 0.47% of the stock is 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.