IFM Investors Pty Ltd Has $4.25 Million Holdings in Best Buy Co., Inc. $BBY

IFM Investors Pty Ltd grew its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,157 shares of the technology retailer’s stock after purchasing an additional 7,982 shares during the quarter. IFM Investors Pty Ltd’s holdings in Best Buy were worth $4,247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Palisade Asset Management LLC acquired a new position in Best Buy in the third quarter valued at $25,000. Torren Management LLC acquired a new stake in Best Buy during the 4th quarter worth about $25,000. MV Capital Management Inc. bought a new position in shares of Best Buy in the 4th quarter worth about $25,000. Hillsdale Investment Management Inc. bought a new position in shares of Best Buy in the 4th quarter worth about $29,000. Finally, Quest 10 Wealth Builders Inc. lifted its stake in shares of Best Buy by 239.2% in the 4th 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. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of BBY opened at $77.81 on Friday. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $84.99. The company has a market cap of $16.40 billion, a PE ratio of 14.41, a P/E/G ratio of 2.08 and a beta of 1.30. The stock has a 50-day moving average of $68.18 and a 200-day moving average of $66.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40.

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

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, June 18th. Best Buy’s dividend payout ratio is presently 71.11%.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $73.80, for a total transaction of $131,659.20. Following the completion of the sale, the chief accounting officer owned 21,630 shares in the company, valued at approximately $1,596,294. The trade was a 7.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 500,350 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $76.12, for a total transaction 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. The trade was a 4.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,002,134 shares of company stock worth $77,283,527. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BBY shares. JPMorgan Chase & Co. upped their target price on Best Buy from $76.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. DA Davidson reiterated a “buy” rating and issued a $90.00 target price on shares of Best Buy in a report on Monday, June 22nd. Loop Capital dropped their price target on Best Buy from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Wall Street Zen cut Best Buy from a “buy” rating to a “hold” rating in a report on Saturday. Finally, BNP Paribas Exane raised their price objective on shares of Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $79.50.

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.