Impact Partnership Wealth LLC Purchases 10,654 Shares of Best Buy Co., Inc. $BBY

Impact Partnership Wealth LLC lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 196.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 16,084 shares of the technology retailer’s stock after acquiring an additional 10,654 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Best Buy were worth $1,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank grew its stake in shares of Best Buy by 12.0% during the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock worth $98,000 after acquiring an additional 139 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of Best Buy by 0.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock worth $1,114,000 after acquiring an additional 152 shares during the period. Applied Finance Capital Management LLC grew its stake in shares of Best Buy by 3.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock worth $286,000 after acquiring an additional 157 shares during the period. International Private Wealth Advisors LLC grew its stake in shares of Best Buy by 5.2% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock worth $224,000 after acquiring an additional 165 shares during the period. Finally, J. Team Financial Inc. boosted its stake in Best Buy by 4.2% in the 4th quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer’s stock worth $285,000 after purchasing an additional 171 shares during the period. Institutional investors own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BBY shares. Daiwa Securities Group cut their target price on Best Buy from $80.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. The Goldman Sachs Group raised their target price on Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a research note on Friday. Weiss Ratings downgraded Best Buy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Citigroup raised their target price on Best Buy from $60.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, JPMorgan Chase & Co. raised their target price on Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.60.

Best Buy Stock Up 4.6%

Shares of NYSE BBY opened at $78.16 on Friday. The company has a market cap of $16.47 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.85 and a beta of 1.22. The company has a quick ratio of 0.43, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $62.29 and a two-hundred day simple moving average of $66.88. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $84.99.

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

Best Buy Dividend Announcement

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

Key Headlines Impacting Best Buy

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

In other news, CAO Mathew Watson sold 3,298 shares of Best Buy stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $211,137.96. Following the completion of the sale, the chief accounting officer owned 23,192 shares in the company, valued at approximately $1,484,751.84. This trade represents a 12.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jason J. Bonfig sold 6,336 shares of Best Buy stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $405,630.72. Following the sale, the executive vice president owned 79,137 shares of the company’s stock, valued at approximately $5,066,350.74. This trade represents a 7.41% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 77,247 shares of company stock worth $4,945,353. Company insiders own 0.47% of the company’s stock.

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.