Winthrop Partners WNY LLC Invests $790,000 in Best Buy Co., Inc. $BBY

Winthrop Partners WNY LLC bought a new stake in Best Buy Co., Inc. (NYSE:BBY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,805 shares of the technology retailer’s stock, valued at approximately $790,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Torren Management LLC acquired a new position in shares of Best Buy during the 4th quarter worth about $25,000. MV Capital Management Inc. acquired a new stake in shares of Best Buy in the fourth quarter valued at about $25,000. Palisade Asset Management LLC acquired a new stake in shares of Best Buy in the third quarter valued at about $25,000. Hillsdale Investment Management Inc. bought a new stake in Best Buy during the fourth quarter worth about $29,000. Finally, Quest 10 Wealth Builders Inc. raised its holdings in Best Buy by 239.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock worth $30,000 after acquiring an additional 311 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Matthew M. Bilunas sold 11,356 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $727,011.12. Following the transaction, the chief financial officer directly owned 76,884 shares of the company’s stock, valued at approximately $4,922,113.68. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jason J. Bonfig sold 6,336 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $405,630.72. Following the completion of the sale, the executive vice president owned 79,137 shares of the company’s stock, valued at approximately $5,066,350.74. This trade represents a 7.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 660,780 shares of company stock worth $49,530,325. Insiders own 0.50% of the company’s stock.

Best Buy Stock Performance

Shares of NYSE BBY opened at $74.89 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $84.99. The stock has a 50 day moving average of $65.59 and a 200-day moving average of $66.62. The company has a market capitalization of $15.78 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.99 and a beta of 1.30.

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

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders 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 5.1%. The ex-dividend date is Thursday, June 18th. Best Buy’s dividend payout ratio is presently 71.11%.

Analyst Ratings Changes

Several research firms have recently commented on BBY. Truist Financial increased their price objective on Best Buy from $66.00 to $81.00 and gave the company a “hold” rating in a report on Friday, May 29th. Wedbush boosted their target price on shares of Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a research report on Wednesday, March 4th. Jefferies Financial Group increased their price target on shares of Best Buy from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Daiwa Securities Group lifted their price objective on shares of Best Buy from $68.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $79.05.

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.