SBI Okasan Asset Management Co.Ltd. Acquires New Holdings in Best Buy Co., Inc. $BBY

SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,500 shares of the technology retailer’s stock, valued at approximately $577,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BBY. Torren Management LLC purchased a new stake in Best Buy during the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC purchased a new stake in Best Buy during the third quarter valued at approximately $25,000. Quest 10 Wealth Builders Inc. increased 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 valued at $30,000 after buying an additional 311 shares during the last quarter. Activest Wealth Management increased its holdings in Best Buy by 1,247.1% during the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock valued at $31,000 after buying an additional 424 shares during the last quarter. Finally, Wolff Wiese Magana LLC purchased a new stake in Best Buy during the fourth quarter valued at approximately $32,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BBY has been the subject of a number of research reports. Evercore upped their target price on shares of Best Buy from $65.00 to $85.00 in a report on Friday. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a report on Wednesday, March 4th. UBS Group reaffirmed a “neutral” rating and set a $86.00 target price (up from $85.00) on shares of Best Buy in a report on Friday. Wells Fargo & Company upped their target price on shares of Best Buy from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Loop Capital increased their price objective on shares of Best Buy from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $78.60.

Best Buy News Summary

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy reported Q1 adjusted EPS of $1.28, above estimates of $1.22, and revenue of $8.94 billion, also ahead of forecasts, with comparable sales rising 2.0%. Best Buy Q1 Earnings Beat Estimates, Comparable Sales Rise 2%
• Positive Sentiment: The company reaffirmed its full-year guidance and highlighted improving margins and stronger demand in gaming, computing, and cellphones, suggesting the turnaround is gaining traction. Best Buy Reports First Quarter Results
• Positive Sentiment: Several analyst firms raised price targets after the earnings release, including Jefferies, Loop Capital, Guggenheim, Morgan Stanley, Citigroup, and others, indicating improving sentiment around the stock. Analyst rating updates
• Positive Sentiment: Retail-industry news also pointed to selective consumer spending still favoring value-focused names like Best Buy, adding to the rally. Retail Rally Sends Kohl’s, Best Buy, Dollar Tree Up As Much As 18%
• Neutral Sentiment: DA Davidson reaffirmed its buy rating but set a $78 price target, which is roughly in line with the current share price and does not materially change the valuation debate. DA Davidson rating reaffirmation
• Neutral Sentiment: Best Buy also announced a quarterly dividend of $0.96 per share, reinforcing its income appeal for investors. Dividend announcement

Insider Activity at Best Buy

In related news, insider Todd G. Hartman sold 5,339 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $341,802.78. Following the completion of the transaction, the insider directly owned 44,098 shares of the company’s stock, valued at approximately $2,823,153.96. This trade represents a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kathleen Scarlett sold 8,049 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $515,296.98. Following the transaction, the executive vice president directly owned 102,669 shares of the company’s stock, valued at $6,572,869.38. The trade was a 7.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 77,247 shares of company stock valued at $4,945,353 in the last ninety days. Corporate insiders own 0.47% of the company’s stock.

Best Buy Stock Performance

Shares of NYSE BBY opened at $78.16 on Friday. The firm has a fifty day moving average price of $62.29 and a 200-day moving average price of $66.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.43. The stock has a market cap of $16.47 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $84.99.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities analysts anticipate that Best Buy Co., Inc. will post 6.5 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

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 paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, June 18th. Best Buy’s dividend payout ratio (DPR) is presently 71.11%.

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.