One Wealth Advisors LLC Invests $682,000 in Best Buy Co., Inc. $BBY

One Wealth Advisors LLC purchased a new position in Best Buy Co., Inc. (NYSE:BBY) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,989 shares of the technology retailer’s stock, valued at approximately $682,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Palisade Asset Management LLC bought a new position in Best Buy during the third quarter worth $25,000. MV Capital Management Inc. bought a new stake in Best Buy during the fourth quarter valued at $25,000. Torren Management LLC bought a new stake in Best Buy during the fourth quarter valued at $25,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Best Buy during the fourth quarter worth $29,000. Finally, Quest 10 Wealth Builders Inc. raised its holdings in shares of 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 purchasing an additional 311 shares during the period. 80.96% of the stock is owned by institutional investors.

Insider Activity at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 500,350 shares of Best Buy stock in a transaction 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 of the company’s stock, valued at $832,036,206.32. The trade was a 4.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction 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 sale, the chief accounting officer directly owned 21,630 shares in the company, valued at $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 quarter, insiders have sold 1,002,134 shares of company stock valued at $77,283,527. Insiders own 0.50% of the company’s stock.

Best Buy Stock Up 1.4%

Best Buy stock opened at $86.54 on Friday. The company has a 50-day simple moving average of $81.10 and a 200-day simple moving average of $69.99. The firm has a market capitalization of $18.24 billion, a P/E ratio of 16.03, a P/E/G ratio of 2.49 and a beta of 1.29. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $91.26.

Best Buy (NYSE:BBY) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. Best Buy’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, equities analysts expect that Best Buy Co., Inc. will post 6.56 earnings per share 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 dividend of $0.96 per share. The ex-dividend date was Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 4.4%. Best Buy’s payout ratio is currently 71.11%.

Analyst Ratings Changes

BBY has been the subject of several research reports. Wall Street Zen lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Evercore increased their price objective on shares of Best Buy from $65.00 to $85.00 in a research note on Friday, May 29th. The Goldman Sachs Group increased their price objective on shares of Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a research note on Friday, May 29th. Telsey Advisory Group lifted their target price on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Finally, Bank of America assumed coverage on Best Buy in a research note on Monday, August 3rd. They issued an “underperform” rating and a $80.00 target price for the company. Five analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $82.70.

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.