Best Buy Co., Inc. $BBY Stock Holdings Increased by KLCM Advisors Inc.

KLCM Advisors Inc. lifted its stake in Best Buy Co., Inc. (NYSE:BBY) by 19.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,899 shares of the technology retailer’s stock after purchasing an additional 20,626 shares during the quarter. KLCM Advisors Inc.’s holdings in Best Buy were worth $8,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Palisade Asset Management LLC purchased a new stake in shares of Best Buy in the third quarter worth approximately $25,000. Torren Management LLC purchased a new stake in shares of Best Buy in the fourth quarter worth approximately $25,000. Root Financial Partners LLC purchased a new stake in shares of Best Buy in the third quarter worth approximately $32,000. Quest 10 Wealth Builders Inc. lifted its position in shares of Best Buy by 239.2% in 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 in the last quarter. Finally, Activest Wealth Management lifted its position in shares of Best Buy by 1,247.1% in the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock worth $31,000 after purchasing an additional 424 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Best Buy

In other Best Buy news, insider Todd G. Hartman sold 5,339 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $341,802.78. Following the transaction, the insider owned 44,098 shares in the company, valued at $2,823,153.96. This trade represents a 10.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Corie S. Barry sold 42,869 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $2,744,473.38. Following the transaction, the chief executive officer owned 523,138 shares in the company, valued at approximately $33,491,294.76. This trade represents a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 77,247 shares of company stock valued at $4,945,353. 0.59% of the stock is owned by company insiders.

Best Buy Price Performance

Shares of BBY opened at $57.64 on Tuesday. The firm has a market cap of $12.14 billion, a PE ratio of 11.44, a PEG ratio of 1.47 and a beta of 1.22. The firm’s 50 day moving average price is $62.85 and its 200 day moving average price is $68.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. Best Buy Co., Inc. has a twelve month low of $56.68 and a twelve month high of $84.99.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.13. The firm had revenue of $13.81 billion for the quarter, compared to analyst estimates of $13.96 billion. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.58 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, research analysts expect that Best Buy Co., Inc. will post 6.5 EPS for the current fiscal year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 6.7%. This is a boost from Best Buy’s previous quarterly dividend of $0.95. The ex-dividend date was Tuesday, March 24th. Best Buy’s dividend payout ratio is 76.19%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BBY. JPMorgan Chase & Co. lowered shares of Best Buy from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $99.00 to $76.00 in a research report on Monday, February 2nd. Wells Fargo & Company reduced their price target on shares of Best Buy from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Citigroup raised their price objective on shares of Best Buy from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Daiwa Securities Group cut their price objective on shares of Best Buy from $80.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, March 5th. Finally, Telsey Advisory Group cut their price objective on shares of Best Buy from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.75.

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.