Personal CFO Solutions LLC Purchases 9,327 Shares of Best Buy Co., Inc. $BBY

Personal CFO Solutions LLC boosted its position in Best Buy Co., Inc. (NYSE:BBY) by 249.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,061 shares of the technology retailer’s stock after buying an additional 9,327 shares during the period. Personal CFO Solutions LLC’s holdings in Best Buy were worth $851,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC raised its position in shares of Best Buy by 99.8% in the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock worth $525,120,000 after acquiring an additional 3,496,254 shares in the last quarter. Norges Bank bought a new stake in shares of Best Buy during the 4th quarter valued at about $174,685,000. Schroder Investment Management Group grew its stake in Best Buy by 378.8% during the fourth quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer’s stock worth $207,216,000 after purchasing an additional 2,449,342 shares during the period. Hsbc Holdings PLC grew its stake in Best Buy by 104.1% during the fourth quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer’s stock worth $135,685,000 after purchasing an additional 1,030,544 shares during the period. Finally, KBC Group NV increased its holdings in Best Buy by 293.6% in the fourth quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer’s stock worth $70,464,000 after purchasing an additional 785,294 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 224,705 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $78.10, for a total value of $17,549,460.50. Following the transaction, the chairman owned 10,430,936 shares in the company, valued at $814,656,101.60. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $131,659.20. Following the transaction, the chief accounting officer directly owned 21,630 shares in the company, valued at approximately $1,596,294. The trade was a 7.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,002,134 shares of company stock valued at $77,283,527. Company insiders own 0.50% of the company’s stock.

Best Buy Stock Performance

BBY opened at $79.92 on Friday. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $84.99. The company has a market cap of $16.84 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.08 and a beta of 1.30. The company’s fifty day moving average price is $69.68 and its two-hundred day moving average price is $66.96. 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 (NYSE:BBY) last posted its 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 company had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The firm’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. On average, analysts expect that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Thursday, June 18th. Best Buy’s payout ratio is currently 71.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BBY shares. The Goldman Sachs Group increased their price target on Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a report on Friday, May 29th. Wedbush lifted their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. KeyCorp reiterated a “sector weight” rating on shares of Best Buy in a research report on Monday, June 22nd. UBS Group reissued a “neutral” rating and set a $86.00 target price (up from $85.00) on shares of Best Buy in a research note on Friday, May 29th. Finally, Telsey Advisory Group set a $90.00 price target on shares of Best Buy and gave the stock an “outperform” rating in a report on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.