Stance Capital LLC Has $1.88 Million Holdings in Best Buy Co., Inc. $BBY

Stance Capital LLC boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 4,696.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,110 shares of the technology retailer’s stock after acquiring an additional 27,524 shares during the period. Stance Capital LLC’s holdings in Best Buy were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Woodline Partners LP lifted its holdings in shares of Best Buy by 40.1% during the 1st quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock valued at $1,210,000 after purchasing an additional 4,701 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Best Buy by 4.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer’s stock worth $1,984,000 after purchasing an additional 1,234 shares in the last quarter. Investment Management Corp of Ontario increased its stake in Best Buy by 127.7% during the 2nd quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer’s stock worth $872,000 after purchasing an additional 7,288 shares in the last quarter. Ieq Capital LLC raised its holdings in Best Buy by 155.4% during the 2nd quarter. Ieq Capital LLC now owns 160,568 shares of the technology retailer’s stock worth $10,779,000 after buying an additional 97,688 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Best Buy by 32.0% during the 2nd quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer’s stock worth $21,051,000 after buying an additional 76,102 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BBY shares. Wedbush upped their price target on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Telsey Advisory Group set a $90.00 price objective on shares of Best Buy and gave the company an “outperform” rating in a research report on Friday, May 29th. Weiss Ratings raised shares of Best Buy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. The Goldman Sachs Group increased their target price on Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a report on Friday, May 29th. Finally, Loop Capital lifted their price target on Best Buy from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $79.05.

Best Buy Stock Up 0.2%

Best Buy stock 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 1-year low of $55.10 and a 1-year high of $84.99. The company has a fifty day simple moving average of $65.59 and a 200 day simple moving average of $66.62. The company has a market cap of $15.78 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 1.99 and a beta of 1.30.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, topping 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 analysts’ expectations of $8.82 billion. During the same period in the previous year, the firm posted $1.15 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 5.1%. The ex-dividend date is Thursday, June 18th. Best Buy’s dividend payout ratio is presently 71.11%.

Insider Activity

In other news, Chairman Richard M. Schulze sold 500,350 shares of the company’s stock in a transaction that occurred 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 sale, the chairman owned 10,930,586 shares in the company, valued at $832,036,206.32. This represents a 4.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Matthew M. Bilunas sold 11,356 shares of the 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 $727,011.12. Following the completion of the sale, the chief financial officer directly owned 76,884 shares of the company’s stock, valued at approximately $4,922,113.68. The trade was a 12.87% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 660,780 shares of company stock valued at $49,530,325. Corporate insiders own 0.50% of the company’s stock.

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.