ProShare Advisors LLC Has $3.10 Million Holdings in Best Buy Co., Inc. $BBY

ProShare Advisors LLC boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 27.0% in the fourth quarter, HoldingsChannel reports. The fund owned 46,368 shares of the technology retailer’s stock after buying an additional 9,846 shares during the quarter. ProShare Advisors LLC’s holdings in Best Buy were worth $3,103,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BBY. Palisade Asset Management LLC acquired a new stake in shares of Best Buy during the 3rd quarter valued at about $25,000. Torren Management LLC acquired a new stake in shares of Best Buy during the 4th quarter valued at about $25,000. Root Financial Partners LLC acquired a new stake in shares of Best Buy during the 3rd quarter valued at about $32,000. Quest 10 Wealth Builders Inc. lifted its holdings in shares of Best Buy by 239.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock valued at $30,000 after buying an additional 311 shares during the last quarter. Finally, Activest Wealth Management lifted its holdings in shares of Best Buy by 1,247.1% during the 4th quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock valued at $31,000 after buying an additional 424 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting 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

Insider Buying and Selling

In other news, insider Todd G. Hartman sold 5,339 shares of the business’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 $341,802.78. Following the sale, the insider directly owned 44,098 shares in the company, valued at approximately $2,823,153.96. The trade was a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matthew M. Bilunas sold 11,356 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $727,011.12. Following the completion of the sale, 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. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 77,247 shares of company stock worth $4,945,353. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BBY has been the subject of several research reports. Telsey Advisory Group reduced 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. Piper Sandler reiterated a “buy” rating on shares of Best Buy in a report on Wednesday, March 4th. Wells Fargo & Company reduced their price target on Best Buy from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 14th. DA Davidson set a $78.00 price target on Best Buy in a report on Thursday, March 5th. Finally, JPMorgan Chase & Co. downgraded Best Buy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $99.00 to $76.00 in a research note on Monday, February 2nd. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $70.80.

Best Buy Stock Performance

Shares of NYSE BBY opened at $61.53 on Monday. 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’s 50 day moving average is $61.72 and its two-hundred day moving average is $67.18. The company has a market cap of $12.97 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.52 and a beta of 1.22. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $84.99.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, topping the consensus estimate of $2.48 by $0.13. The company 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 revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $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 EPS for the current year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th were given a $0.96 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $3.84 annualized dividend and a yield of 6.2%. This is an increase from Best Buy’s previous quarterly dividend of $0.95. Best Buy’s dividend payout ratio (DPR) is presently 76.19%.

Best Buy 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.