Tulsa Wealth Advisors INC Invests $1.82 Million in Best Buy Co., Inc. $BBY

Tulsa Wealth Advisors INC bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,978 shares of the technology retailer’s stock, valued at approximately $1,819,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BBY. Vanguard Group Inc. raised its stake in shares of Best Buy by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer’s stock worth $1,623,409,000 after buying an additional 307,905 shares during the period. AQR Capital Management LLC grew its stake in Best Buy by 30.9% in the 4th quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer’s stock valued at $613,001,000 after acquiring an additional 2,160,968 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Best Buy by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer’s stock valued at $498,805,000 after acquiring an additional 160,713 shares during the period. Invesco Ltd. increased its holdings in Best Buy by 6.1% in the 4th quarter. Invesco Ltd. now owns 4,732,080 shares of the technology retailer’s stock worth $316,718,000 after acquiring an additional 271,988 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Best Buy by 19.1% in the 4th quarter. Morgan Stanley now owns 3,778,294 shares of the technology retailer’s stock worth $252,881,000 after acquiring an additional 605,911 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BBY shares. Citigroup increased their price objective on shares of Best Buy from $79.00 to $88.00 and gave the company a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Wedbush raised their price target on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. BNP Paribas Exane lifted their price objective on Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Wall Street Zen lowered Best Buy from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Best Buy presently has an average rating of “Hold” and an average target price of $82.70.

Best Buy Trading Up 0.1%

Shares of BBY opened at $86.54 on Monday. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $91.26. The stock has a market cap of $18.24 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.49 and a beta of 1.29. The firm’s fifty day moving average is $81.10 and its two-hundred day moving average is $70.01. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. The business had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts forecast that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.

Best Buy Announces Dividend

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

Insider Buying and Selling

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were 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 trade represents a 7.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 500,350 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $76.12, for a total value of $38,086,642.00. Following the transaction, the chairman owned 10,930,586 shares in the company, valued at approximately $832,036,206.32. This represents a 4.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,002,134 shares of company stock worth $77,283,527 over the last three months. Corporate insiders own 0.50% of the company’s stock.

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.