Sei Investments Co. Acquires 38,169 Shares of Best Buy Co., Inc. $BBY

Sei Investments Co. lifted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 42.1% in the 1st quarter, Holdings Channel reports. The firm owned 128,918 shares of the technology retailer’s stock after buying an additional 38,169 shares during the quarter. Sei Investments Co.’s holdings in Best Buy were worth $8,277,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Torren Management LLC acquired a new position in Best Buy during the fourth quarter worth $25,000. MV Capital Management Inc. acquired a new stake in shares of Best Buy in the fourth quarter worth about $25,000. Palisade Asset Management LLC bought a new stake in shares of Best Buy during the 3rd quarter worth about $25,000. Hillsdale Investment Management Inc. bought a new stake in shares of Best Buy during the 4th quarter worth about $29,000. Finally, Quest 10 Wealth Builders Inc. increased 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 acquiring an additional 311 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BBY. Wall Street Zen downgraded Best Buy from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Morgan Stanley upped their target price on Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Weiss Ratings upgraded Best Buy from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Wedbush lifted their price target on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, Guggenheim restated a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $79.50.

Best Buy Price Performance

NYSE BBY opened at $86.19 on Monday. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $91.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. The stock has a market capitalization of $18.17 billion, a PE ratio of 15.96, a P/E/G ratio of 2.29 and a beta of 1.30. The stock has a 50-day simple moving average of $78.41 and a 200 day simple moving average of $68.83.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.05. The firm had revenue of $8.94 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts anticipate that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Dividend Announcement

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

Insider Activity at Best Buy

In related news, CAO Mathew Watson sold 1,784 shares of the company’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 transaction, the chief accounting officer directly owned 21,630 shares in the company, valued at $1,596,294. This represents a 7.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard M. Schulze sold 224,705 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the completion of the sale, the chairman directly owned 10,430,936 shares of the company’s stock, valued at approximately $814,656,101.60. This trade represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,002,134 shares of company stock valued at $77,283,527 over the last three months. 0.50% of the stock is owned by company insiders.

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.