SG Americas Securities LLC Purchases 707,712 Shares of Best Buy Co., Inc. $BBY

SG Americas Securities LLC boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 1,098.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 772,157 shares of the technology retailer’s stock after acquiring an additional 707,712 shares during the period. SG Americas Securities LLC’s holdings in Best Buy were worth $48,950,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BBY. Concurrent Investment Advisors LLC increased its stake in Best Buy by 100.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 70,280 shares of the technology retailer’s stock worth $4,704,000 after buying an additional 35,239 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Best Buy in the fourth quarter valued at about $1,741,000. Waratah Capital Advisors Ltd. purchased a new position in shares of Best Buy in the third quarter valued at about $3,032,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Best Buy by 42.9% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 225,000 shares of the technology retailer’s stock valued at $15,059,000 after purchasing an additional 67,600 shares during the period. Finally, Trust Investment Advisors bought a new stake in Best Buy during the 3rd quarter valued at approximately $1,939,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $77.00 price target on shares of Best Buy in a research note on Thursday, May 28th. 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. Jefferies Financial Group boosted their target price on shares of Best Buy from $83.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. KeyCorp restated a “sector weight” rating on shares of Best Buy in a research report on Monday. Finally, Daiwa Securities Group raised their target price on shares of Best Buy from $68.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, June 2nd. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $79.65.

Best Buy Stock Performance

NYSE:BBY opened at $76.19 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $84.99. The stock’s 50 day simple moving average is $65.82 and its two-hundred day simple moving average is $66.56. The company has a market cap of $16.06 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.99 and a beta of 1.30.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.82 billion. During the same period last year, the firm posted $1.15 earnings per share. Best Buy’s revenue for the quarter was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, June 18th. Best Buy’s dividend payout ratio (DPR) is presently 71.11%.

Key Headlines Impacting Best Buy

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

• Positive Sentiment: DA Davidson reaffirmed its Buy rating on Best Buy and raised its price target to $90 from $78 after meetings with management, signaling confidence in the company’s outlook and leadership. DA Davidson Boosts Best Buy (BBY) Price Objective Following Management Meetings
• Positive Sentiment: Truist said Best Buy should handle its upcoming CEO transition smoothly and noted continued demand for innovation, easing concerns that leadership changes could disrupt the business. Best Buy CEO Transition Expected To Be Smooth; Demand For Innovation Strong, Truist Says
• Positive Sentiment: Best Buy announced a $0.96 quarterly dividend, lifting the annualized payout to $3.84 per share and reinforcing the stock’s appeal for dividend investors. Dividend Safety: This Big-Box Retailer Is a Top Choice for Retirees Protecting Their Wealth
• Neutral Sentiment: The company announced a CFO transition and broader leadership changes, but the update appears to be part of an orderly management reshuffle rather than a sign of operational trouble. Best Buy Announces CFO Transition Amid Leadership Changes
• Neutral Sentiment: Commentary around Best Buy’s rally and the expected CEO transition has added attention to the stock, but these items are largely sentiment-driven rather than new fundamental developments. Best Buy preps to welcome just its sixth CEO in its history

Insiders Place Their Bets

In other news, Chairman Richard M. Schulze sold 500,350 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $76.12, for a total value of $38,086,642.00. Following the sale, the chairman directly owned 10,930,586 shares in the company, valued at $832,036,206.32. The trade was a 4.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mathew Watson sold 1,784 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $73.80, for a total transaction of $131,659.20. Following the sale, the chief accounting officer owned 21,630 shares in the company, valued at $1,596,294. This represents a 7.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 583,533 shares of company stock valued at $44,584,972 over the last three months. 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.