Oxbow Advisors LLC Takes Position in Best Buy Co., Inc. $BBY

Oxbow Advisors LLC purchased a new stake in Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, HoldingsChannel reports. The firm purchased 94,051 shares of the technology retailer’s stock, valued at approximately $6,295,000.

Other large investors also recently bought and sold shares of the company. Crossmark Global Holdings Inc. grew its holdings in Best Buy by 199.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 36,342 shares of the technology retailer’s stock valued at $2,432,000 after purchasing an additional 24,219 shares during the period. Ballentine Partners LLC grew its stake in Best Buy by 28.7% in the 4th quarter. Ballentine Partners LLC now owns 5,069 shares of the technology retailer’s stock valued at $339,000 after acquiring an additional 1,130 shares during the period. Cheviot Value Management LLC grew its stake in Best Buy by 18.3% in the 4th quarter. Cheviot Value Management LLC now owns 5,000 shares of the technology retailer’s stock valued at $328,000 after acquiring an additional 775 shares during the period. MGO One Seven LLC increased its holdings in Best Buy by 15.9% in the 4th quarter. MGO One Seven LLC now owns 44,278 shares of the technology retailer’s stock worth $2,964,000 after acquiring an additional 6,059 shares in the last quarter. Finally, Crestwood Advisors Group LLC acquired a new position in Best Buy during the fourth quarter worth $298,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Buying and Selling

In other news, CFO Matthew M. Bilunas sold 11,356 shares of Best Buy stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $727,011.12. Following the completion of the transaction, the chief financial officer owned 76,884 shares in the company, valued at approximately $4,922,113.68. This trade represents a 12.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mathew Watson sold 3,298 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $211,137.96. Following the sale, the chief accounting officer owned 23,192 shares in the company, valued at $1,484,751.84. The trade was a 12.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 77,247 shares of company stock worth $4,945,353 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Best Buy Trading Up 1.5%

BBY opened at $59.42 on Friday. Best Buy Co., Inc. has a 52 week low of $56.68 and a 52 week high of $84.99. The company has a quick ratio of 0.43, a current ratio of 1.11 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $63.01 and a 200-day simple moving average of $69.04. The firm has a market cap of $12.52 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.47 and a beta of 1.22.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.13. The firm had revenue of $13.81 billion for the quarter, compared to the consensus estimate of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, equities analysts expect that Best Buy Co., Inc. will post 6.5 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th were given a dividend of $0.96 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.95. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend was Tuesday, March 24th. Best Buy’s dividend payout ratio is currently 76.19%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BBY. Weiss Ratings lowered shares of Best Buy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Telsey Advisory Group cut their price target on Best Buy from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Morgan Stanley dropped their target price on Best Buy from $76.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, March 4th. Wall Street Zen cut shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Truist Financial decreased their target price on shares of Best Buy from $73.00 to $66.00 and set a “hold” rating on the stock in a research report on Tuesday, March 3rd. Nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Best Buy presently has an average rating of “Hold” and a consensus target price of $71.75.

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.