Fieldview Capital Management LLC Makes New $4.62 Million Investment in Best Buy Co., Inc. $BBY

Fieldview Capital Management LLC acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 69,042 shares of the technology retailer’s stock, valued at approximately $4,621,000. Best Buy makes up approximately 0.8% of Fieldview Capital Management LLC’s holdings, making the stock its 16th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC boosted its stake in shares of Best Buy by 99.8% during the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock valued at $525,120,000 after purchasing an additional 3,496,254 shares in the last quarter. Norges Bank bought a new stake in shares of Best Buy in the fourth quarter worth approximately $174,685,000. Schroder Investment Management Group grew its stake in shares of Best Buy by 378.8% in the fourth quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer’s stock worth $207,216,000 after acquiring an additional 2,449,342 shares during the period. KBC Group NV grew its position in Best Buy by 293.6% during the fourth quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer’s stock valued at $70,464,000 after buying an additional 785,294 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in Best Buy by 14,865.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 771,159 shares of the technology retailer’s stock valued at $51,614,000 after buying an additional 766,006 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

BBY opened at $78.70 on Friday. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $84.99. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $16.59 billion, a PE ratio of 14.57, a P/E/G ratio of 2.09 and a beta of 1.30. The firm has a 50 day moving average of $64.51 and a two-hundred day moving average of $66.77.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping 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 company 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 EPS. 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. On average, analysts anticipate that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a yield of 4.9%. Best Buy’s dividend payout ratio (DPR) is currently 71.11%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BBY. Guggenheim reiterated a “buy” rating and issued a $90.00 price target on shares of Best Buy in a research report on Friday, May 29th. Morgan Stanley upped their price target on shares of Best Buy from $72.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 4th. Weiss Ratings raised shares of Best Buy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Finally, HSBC reduced their target price on shares of Best Buy from $96.00 to $85.00 in a research note on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $79.05.

Insider Activity at Best Buy

In other Best Buy news, CEO Corie S. Barry sold 42,869 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $2,744,473.38. Following the completion of the transaction, the chief executive officer directly owned 523,138 shares of the company’s stock, valued at approximately $33,491,294.76. This trade represents a 7.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 500,350 shares of Best Buy stock in a transaction that occurred 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 transaction, the chairman directly owned 10,930,586 shares of the company’s stock, valued at approximately $832,036,206.32. This trade represents a 4.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 579,381 shares of company stock worth $43,163,654 in the last ninety days. 0.47% of the stock is owned by company insiders.

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.