Foster & Motley Inc. Invests $1.96 Million in Best Buy Co., Inc. $BBY

Foster & Motley Inc. acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 25,851 shares of the technology retailer’s stock, valued at approximately $1,962,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Tema ETFs LLC raised its position in Best Buy by 6.5% in the second quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock valued at $179,000 after purchasing an additional 145 shares during the last quarter. Krane Funds Advisors LLC increased its stake in shares of Best Buy by 3.0% in the fourth quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock valued at $346,000 after buying an additional 151 shares during the period. Applied Finance Capital Management LLC raised its holdings in Best Buy by 3.8% in the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock valued at $286,000 after buying an additional 157 shares during the last quarter. J. Team Financial Inc. boosted its position in Best Buy by 4.2% during the 4th quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer’s stock worth $285,000 after buying an additional 171 shares during the period. Finally, UMB Bank n.a. boosted its position in Best Buy by 6.2% during the 4th quarter. UMB Bank n.a. now owns 3,158 shares of the technology retailer’s stock worth $211,000 after buying an additional 185 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

Best Buy stock opened at $87.33 on Wednesday. The stock has a market capitalization of $18.41 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 2.49 and a beta of 1.29. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-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’s 50 day moving average price is $81.57 and its two-hundred day moving average price is $70.30.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the business posted $1.15 EPS. Best Buy’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. On average, equities analysts predict that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Thursday, June 18th. Best Buy’s payout ratio is 71.11%.

Insider Buying and Selling at Best Buy

In other news, CAO Mathew Watson sold 1,784 shares of the firm’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 completion of the sale, the chief accounting officer directly owned 21,630 shares in the company, valued at $1,596,294. This trade represents a 7.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Richard M. Schulze sold 224,705 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $78.10, for a total value of $17,549,460.50. Following the completion of the sale, the chairman owned 10,430,936 shares of the company’s stock, valued at approximately $814,656,101.60. This represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,002,134 shares of company stock valued at $77,283,527. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

BBY has been the subject of several recent research reports. Wall Street Zen cut shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Evercore boosted their price objective on shares of Best Buy from $65.00 to $85.00 in a research note on Friday, May 29th. Telsey Advisory Group increased their price objective on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Wells Fargo & Company raised their target price on Best Buy from $65.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Finally, Citigroup lifted their target price on Best Buy from $79.00 to $88.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $82.70.

About Best Buy

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.