LVM Capital Management Ltd. MI Acquires New Shares in Best Buy Co., Inc. $BBY

LVM Capital Management Ltd. MI acquired a new stake in Best Buy Co., Inc. (NYSE:BBY) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,905 shares of the technology retailer’s stock, valued at approximately $600,000.

A number of other institutional investors have also recently added to or reduced their stakes in BBY. Torren Management LLC acquired a new position in Best Buy during the 4th quarter valued at about $25,000. MV Capital Management Inc. purchased a new position in shares of Best Buy during the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new stake in Best Buy during the third quarter worth $25,000. Hillsdale Investment Management Inc. bought a new stake in Best Buy during the fourth quarter worth $29,000. Finally, Quest 10 Wealth Builders Inc. lifted its stake in 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 acquiring an additional 311 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Richard M. Schulze sold 500,350 shares of the company’s 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 of the company’s stock, valued at $832,036,206.32. This represents a 4.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mathew Watson sold 1,784 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $73.80, for a total transaction of $131,659.20. Following the completion of the transaction, the chief accounting officer directly owned 21,630 shares in the company, valued at approximately $1,596,294. The trade was a 7.62% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,002,134 shares of company stock valued at $77,283,527. 0.50% of the stock is owned by corporate insiders.

Best Buy Stock Performance

Shares of BBY stock opened at $82.47 on Tuesday. The company has a market capitalization of $17.38 billion, a P/E ratio of 15.27, a PEG ratio of 2.36 and a beta of 1.29. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week 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 stock has a 50 day moving average price of $80.08 and a two-hundred day moving average price of $69.51.

Best Buy (NYSE:BBY) last released its quarterly earnings data 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 firm had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts expect that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently declared 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 was Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 4.7%. Best Buy’s payout ratio is currently 71.11%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BBY. Telsey Advisory Group raised their price target on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Citigroup lifted their target price 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. Wedbush raised their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Evercore upped their target price on shares of Best Buy from $65.00 to $85.00 in a research report on Friday, May 29th. Finally, Wells Fargo & Company raised their price target on Best Buy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Best Buy presently has an average rating of “Hold” and an average target price of $80.55.

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.