Fieldview Capital Management LLC Takes Position in Best Buy Co., Inc. $BBY

Fieldview Capital Management LLC bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 69,042 shares of the technology retailer’s stock, valued at approximately $4,621,000. Best Buy makes up about 0.8% of Fieldview Capital Management LLC’s investment portfolio, making the stock its 16th biggest position.

Other institutional investors have also recently made changes to their positions in the company. Palisade Asset Management LLC purchased a new position in shares of Best Buy during the 3rd quarter valued at approximately $25,000. Torren Management LLC purchased a new position in shares of Best Buy during the 4th quarter valued at approximately $25,000. Hillsdale Investment Management Inc. purchased a new position in shares of Best Buy during the 4th quarter valued at approximately $29,000. Quest 10 Wealth Builders Inc. increased its holdings in shares of Best Buy by 239.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock valued at $30,000 after purchasing an additional 311 shares in the last quarter. Finally, Activest Wealth Management grew its stake in Best Buy by 1,247.1% in the 4th quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock valued at $31,000 after acquiring an additional 424 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BBY has been the topic of a number of research analyst reports. BNP Paribas Exane lifted their price target on shares of Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Guggenheim reissued a “buy” rating and issued a $90.00 price target on shares of Best Buy in a research note on Friday, May 29th. Telsey Advisory Group set a $90.00 price target on shares of Best Buy and gave the company an “outperform” rating in a research note on Friday, May 29th. Piper Sandler reissued a “neutral” rating and issued a $77.00 price target on shares of Best Buy in a research note on Thursday, May 28th. Finally, Morgan Stanley lifted their price target on shares of Best Buy from $72.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $79.05.

Insider Transactions at Best Buy

In related news, CEO Corie S. Barry sold 42,869 shares of the business’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 $2,744,473.38. Following the sale, the chief executive officer directly owned 523,138 shares in the company, valued at approximately $33,491,294.76. The trade was a 7.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mathew Watson sold 1,784 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer owned 21,630 shares in the company, valued at approximately $1,596,294. This trade represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 579,381 shares of company stock worth $43,163,654 in the last 90 days. Insiders own 0.47% of the company’s stock.

Best Buy Trading Up 2.1%

Shares of BBY stock opened at $78.70 on Friday. The company’s 50-day moving average price is $64.51 and its 200-day moving average price is $66.77. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The stock has a market cap of $16.59 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.09 and a beta of 1.30. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $84.99.

Best Buy (NYSE:BBY) last issued its quarterly earnings data 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. The firm had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.82 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. Best Buy’s 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. As a group, equities analysts predict that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.9%. The ex-dividend date is Thursday, June 18th. 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.