Best Buy Co., Inc. $BBY Shares Acquired by Kentucky Retirement Systems

Kentucky Retirement Systems boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 86.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,568 shares of the technology retailer’s stock after purchasing an additional 10,433 shares during the quarter. Kentucky Retirement Systems’ holdings in Best Buy were worth $1,449,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Palisade Asset Management LLC purchased a new stake in shares of Best Buy during the 3rd quarter valued at $25,000. MV Capital Management Inc. acquired a new stake in shares of Best Buy during the 4th quarter worth $25,000. Torren Management LLC acquired a new stake in shares of Best Buy during the 4th quarter worth $25,000. Hillsdale Investment Management Inc. purchased a new position in shares of Best Buy in the 4th quarter worth $29,000. Finally, Quest 10 Wealth Builders Inc. raised its position 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 worth $30,000 after buying an additional 311 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of NYSE BBY opened at $86.19 on Friday. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $91.26. The business has a 50-day moving average of $78.41 and a 200-day moving average of $68.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40. The company has a market capitalization of $18.17 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 2.34 and a beta of 1.30.

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

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were given a $0.96 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $3.84 annualized dividend and a yield of 4.5%. Best Buy’s dividend payout ratio (DPR) is 71.11%.

Insider Activity at Best Buy

In other news, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction that occurred 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 sale, the chief accounting officer owned 21,630 shares in the company, valued at $1,596,294. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 224,705 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the transaction, the chairman directly owned 10,430,936 shares in the company, valued at approximately $814,656,101.60. The trade was a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,002,134 shares of company stock valued at $77,283,527 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BBY has been the subject of a number of research reports. Wall Street Zen downgraded Best Buy from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Wells Fargo & Company raised their price objective on Best Buy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Weiss Ratings raised Best Buy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Wedbush boosted their target price on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Guggenheim reiterated a “buy” rating and set a $90.00 target price on shares of Best Buy in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $79.50.

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.