24,740 Shares in Best Buy Co., Inc. $BBY Bought by Genus Capital Management Inc.

Genus Capital Management Inc. bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 24,740 shares of the technology retailer’s stock, valued at approximately $1,656,000.

Other institutional investors have also added to or reduced their stakes in the company. Torren Management LLC acquired a new position in Best Buy during the fourth quarter worth $25,000. Palisade Asset Management LLC acquired a new position in Best Buy during the third quarter worth $25,000. Quest 10 Wealth Builders Inc. increased its holdings in Best Buy by 239.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock worth $30,000 after buying an additional 311 shares during the last quarter. Activest Wealth Management increased its holdings in Best Buy by 1,247.1% during the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock worth $31,000 after buying an additional 424 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in Best Buy during the third quarter worth $32,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Trading Down 0.2%

BBY stock opened at $61.53 on Monday. The company has a fifty day moving average price of $61.72 and a two-hundred day moving average price of $67.18. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.52 and a beta of 1.22. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $84.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43.

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

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 24th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 6.2%. This is a boost from Best Buy’s previous quarterly dividend of $0.95. The ex-dividend date was Tuesday, March 24th. Best Buy’s dividend payout ratio is currently 76.19%.

Trending Headlines about Best Buy

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy is being viewed as likely to post solid first-quarter results, with analysts expecting in-line comparable sales and year-over-year earnings growth, which could help support the stock if the company meets those expectations. Best Buy Poised for In-Line First-Quarter Comparable Sales, Wedbush Says
• Positive Sentiment: Recent momentum has improved, with the stock outperforming over the past week even though it remains down year to date, suggesting investors may be positioning for the upcoming report. A Look At Best Buy Valuation As Earnings Expectations And Cautious Sentiment Shape The May 28 Report
• Neutral Sentiment: New back-to-school-style promotions in Canada, such as BMO’s student tech reward tied to Best Buy Canada, may help traffic, but the announcement appears more promotional than material for near-term earnings. Is Best Buy’s Student Tech Perks Masking Deeper Supply Chain And Leadership Questions?
• Negative Sentiment: Investor caution is rising because Best Buy is dealing with product shortages and an upcoming CEO transition, both of which could cloud the earnings outlook and pressure sentiment if management gives a conservative forecast. Is Best Buy’s Student Tech Perks Masking Deeper Supply Chain And Leadership Questions?
• Negative Sentiment: Several previews note that Best Buy may not have the best setup for an earnings beat, which could limit upside if results only match expectations rather than exceed them. Best Buy (BBY) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates

Insiders Place Their Bets

In related news, EVP Jason J. Bonfig sold 6,336 shares of the company’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 $405,630.72. Following the transaction, the executive vice president directly owned 79,137 shares in the company, valued at approximately $5,066,350.74. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew M. Bilunas sold 11,356 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $727,011.12. Following the completion of the transaction, the chief financial officer owned 76,884 shares in the company, valued at $4,922,113.68. This trade represents a 12.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 77,247 shares of company stock valued at $4,945,353 in the last three months. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BBY. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a research report on Wednesday, March 4th. Weiss Ratings cut shares of Best Buy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Wedbush lifted their price objective on shares of Best Buy from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Morgan Stanley reduced their price objective on shares of Best Buy from $76.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 4th. Finally, Piper Sandler reaffirmed a “buy” rating on shares of Best Buy in a research report on Wednesday, March 4th. Nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $70.80.

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.