Best Buy Co., Inc. $BBY Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. grew its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 199.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 36,342 shares of the technology retailer’s stock after buying an additional 24,219 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Best Buy were worth $2,432,000 as of its most recent filing with the SEC.

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

Best Buy Price Performance

NYSE:BBY opened at $57.64 on Tuesday. The business’s 50-day moving average price is $62.85 and its 200 day moving average price is $68.71. The firm has a market cap of $12.14 billion, a P/E ratio of 11.44, a PEG ratio of 1.47 and a beta of 1.22. 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.

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

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 24th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Tuesday, March 24th. 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 yield of 6.7%. Best Buy’s dividend payout ratio is presently 76.19%.

Insider Activity

In related news, insider Todd G. Hartman sold 5,339 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $341,802.78. Following the completion of the transaction, the insider owned 44,098 shares in the company, valued at $2,823,153.96. This trade represents a 10.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kathleen Scarlett sold 8,049 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $515,296.98. Following the completion of the transaction, the executive vice president owned 102,669 shares of the company’s stock, valued at $6,572,869.38. This trade represents a 7.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 77,247 shares of company stock valued at $4,945,353 over the last quarter. Insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the topic of a number of research analyst reports. Evercore set a $65.00 price target on Best Buy in a report on Tuesday, April 14th. HSBC lowered their price target on Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. JPMorgan Chase & Co. lowered Best Buy from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $99.00 to $76.00 in a report on Monday, February 2nd. Telsey Advisory Group lowered their target price on Best Buy from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Finally, Morgan Stanley lowered their target price on Best Buy from $76.00 to $72.00 and set an “equal weight” rating on the stock in a 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.