Best Buy Co., Inc. $BBY Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its stake in Best Buy Co., Inc. (NYSE:BBY) by 42.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,918 shares of the technology retailer’s stock after buying an additional 38,169 shares during the period. Sei Investments Co. owned approximately 0.06% of Best Buy worth $8,277,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Concurrent Investment Advisors LLC increased its stake in Best Buy by 100.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 70,280 shares of the technology retailer’s stock worth $4,704,000 after purchasing an additional 35,239 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in Best Buy during the fourth quarter valued at about $1,741,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Best Buy by 42.9% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 225,000 shares of the technology retailer’s stock worth $15,059,000 after buying an additional 67,600 shares during the period. Oxbow Advisors LLC acquired a new position in shares of Best Buy in the fourth quarter worth about $6,295,000. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Best Buy by 199.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 36,342 shares of the technology retailer’s stock valued at $2,432,000 after acquiring an additional 24,219 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $73.80, for a total value 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 represents a 7.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 224,705 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $78.10, for a total value of $17,549,460.50. Following the sale, the chairman directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,002,134 shares of company stock valued at $77,283,527. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

BBY has been the subject of several research analyst reports. Citigroup upped their price target on shares of Best Buy from $60.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Evercore boosted their target price on shares of Best Buy from $65.00 to $85.00 in a research note on Friday, May 29th. Wedbush increased their target price on Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Morgan Stanley raised their target price on Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Finally, Piper Sandler reiterated a “neutral” rating and set a $77.00 price target on shares of Best Buy in a report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Best Buy presently has a consensus rating of “Hold” and a consensus target price of $79.50.

Best Buy Stock Down 0.1%

Best Buy stock opened at $86.19 on Monday. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $91.26. 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 firm has a market cap of $18.17 billion, a PE ratio of 15.96, a P/E/G ratio of 2.29 and a beta of 1.30. The firm’s 50 day moving average price is $78.41 and its two-hundred day moving average price is $68.83.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The company had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same quarter last year, the business posted $1.15 EPS. The company’s revenue for the quarter 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 predict that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors 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 yield of 4.5%. Best Buy’s dividend payout ratio (DPR) is presently 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.