EverSource Wealth Advisors LLC Sells 6,370 Shares of Best Buy Co., Inc. $BBY

EverSource Wealth Advisors LLC lowered its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 56.5% in the first quarter, Holdings Channel.com reports. The fund owned 4,910 shares of the technology retailer’s stock after selling 6,370 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Best Buy were worth $315,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BBY. Concurrent Investment Advisors LLC raised its holdings in shares of Best Buy by 100.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 70,280 shares of the technology retailer’s stock valued at $4,704,000 after acquiring an additional 35,239 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Best Buy in the 4th quarter valued at $1,741,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of 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 worth $15,059,000 after purchasing an additional 67,600 shares during the last quarter. Oxbow Advisors LLC bought a new stake in Best Buy during the fourth quarter valued at about $6,295,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Best Buy by 8.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478,965 shares of the technology retailer’s stock valued at $33,180,000 after purchasing an additional 38,739 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Activity at Best Buy

In related news, CAO Mathew Watson sold 1,784 shares of the business’s 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 500,350 shares of Best Buy stock in a transaction on Friday, May 29th. The shares were sold at an average price of $76.12, for a total transaction of $38,086,642.00. Following the completion of the transaction, the chairman directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,002,134 shares of company stock valued at $77,283,527. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BBY shares. Piper Sandler restated a “neutral” rating and issued a $77.00 price target on shares of Best Buy in a report on Thursday, May 28th. JPMorgan Chase & Co. raised their target price on shares of Best Buy from $76.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Wells Fargo & Company lifted their price target on shares of Best Buy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Jefferies Financial Group increased their price objective on Best Buy from $83.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Telsey Advisory Group increased their price target on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $80.75.

Best Buy Stock Performance

Shares of BBY stock opened at $86.44 on Wednesday. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $91.26. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The stock has a market cap of $18.22 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29. The business has a 50-day simple moving average of $79.35 and a 200-day simple moving average of $69.09.

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. The firm had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.Best Buy’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, equities analysts expect that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.4%. Best Buy’s dividend payout ratio (DPR) is presently 71.11%.

Best Buy News Summary

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

• Positive Sentiment: Telsey raises target and maintains bullish view: Telsey Advisory Group lifted its price target from $90 to $95 and initiated or maintained an “outperform” rating, implying further upside. The upgrade signals confidence in Best Buy’s earnings outlook and recent operating momentum. TickerReport article
• Positive Sentiment: Incoming CFO adds finance and transformation experience: Best Buy appointed Anne Bramman as executive vice president and chief financial officer, effective August 19. Bramman has more than 30 years of experience in finance, operations, strategy and corporate transformation, which could support the company’s strategic priorities during its leadership transition. Reuters article
• Neutral Sentiment: Smaller-store strategy could reshape growth plans: Best Buy’s new CEO is reportedly emphasizing smaller stores as a way to improve efficiency and support growth. The plan may reduce operating costs and align the store footprint with changing shopping habits, but execution risks remain and the financial impact has not yet been established. MSN article
• Negative Sentiment: Bank of America starts coverage with an underperform rating: Bank of America assigned Best Buy an $80 price target, below the recent trading level. The cautious stance suggests concern that the stock’s strong recovery may already reflect much of its expected earnings improvement. Benzinga article
• Negative Sentiment: Another analyst turns cautious after the thesis played out: A Seeking Alpha analysis downgraded Best Buy to “hold,” arguing that its prior investment thesis has been realized. This reflects valuation concerns and limits on near-term upside following the stock’s rally. Seeking Alpha article

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.