Ruffer LLP Acquires 45,512 Shares of Best Buy Co., Inc. $BBY

Ruffer LLP raised its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 376.3% in the 4th quarter, Holdings Channel reports. The firm owned 57,606 shares of the technology retailer’s stock after purchasing an additional 45,512 shares during the quarter. Ruffer LLP’s holdings in Best Buy were worth $3,862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Palisade Asset Management LLC bought a new stake in shares of Best Buy in the third quarter valued at about $25,000. Harbor Capital Advisors Inc. raised its holdings in shares of Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 138 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Best Buy in the third quarter valued at about $32,000. Wolff Wiese Magana LLC bought a new stake in shares of Best Buy in the fourth quarter valued at about $32,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Best Buy in the second quarter valued at about $33,000. 80.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Best Buy

In other news, CAO Mathew Watson sold 3,298 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $211,137.96. Following the sale, the chief accounting officer owned 23,192 shares in the company, valued at approximately $1,484,751.84. The trade was a 12.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Corie S. Barry sold 42,869 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $2,744,473.38. Following the sale, the chief executive officer owned 523,138 shares in the company, valued at $33,491,294.76. The trade was a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 77,247 shares of company stock valued at $4,945,353. Insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BBY. Weiss Ratings restated a “hold (c)” rating on shares of Best Buy in a report on Wednesday, January 21st. Guggenheim restated a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a report on Wednesday, March 4th. DA Davidson set a $78.00 target price on Best Buy in a research note on Thursday, March 5th. Daiwa Securities Group cut their target price on Best Buy from $80.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, March 5th. Finally, Jefferies Financial Group cut their target price on Best Buy from $94.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Eight equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.85.

Best Buy Price Performance

BBY opened at $66.66 on Wednesday. The business’s 50-day moving average is $64.11 and its two-hundred day moving average is $70.22. Best Buy Co., Inc. has a 1 year low of $59.77 and a 1 year high of $84.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43. The firm has a market capitalization of $13.94 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.65 and a beta of 1.35.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.13. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The company had revenue of $13.81 billion for the quarter, compared to analyst estimates of $13.96 billion. During the same quarter in the previous year, the firm earned $2.58 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts anticipate that Best Buy Co., Inc. will post 6.51 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th were paid a dividend of $0.96 per share. The ex-dividend date was Tuesday, March 24th. This is a positive change from Best Buy’s previous quarterly dividend of $0.95. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.8%. Best Buy’s payout ratio is presently 76.19%.

Best Buy Company 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.