Newport Trust Company LLC Has $76.95 Million Position in Best Buy Co., Inc. $BBY

Newport Trust Company LLC reduced its holdings in Best Buy Co., Inc. (NYSE:BBY) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,149,706 shares of the technology retailer’s stock after selling 9,994 shares during the period. Newport Trust Company LLC’s holdings in Best Buy were worth $76,950,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Best Buy by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer’s stock valued at $1,623,409,000 after buying an additional 307,905 shares during the period. AQR Capital Management LLC lifted its holdings in Best Buy by 99.8% in the third quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock valued at $525,120,000 after buying an additional 3,496,254 shares during the period. Northern Trust Corp increased its stake in Best Buy by 5.5% in the third quarter. Northern Trust Corp now owns 2,888,664 shares of the technology retailer’s stock valued at $218,441,000 after purchasing an additional 150,871 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Best Buy by 2.3% in the third quarter. Bank of New York Mellon Corp now owns 1,754,844 shares of the technology retailer’s stock valued at $132,701,000 after purchasing an additional 39,026 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Best Buy by 0.3% in the third quarter. Legal & General Group Plc now owns 1,661,024 shares of the technology retailer’s stock valued at $125,607,000 after purchasing an additional 5,130 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Trading Up 0.1%

Shares of NYSE:BBY opened at $61.06 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 quick ratio of 0.43, a current ratio of 1.11 and a debt-to-equity ratio of 0.39. The company’s fifty day simple moving average is $61.76 and its 200 day simple moving average is $67.32. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.51 and a beta of 1.22.

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

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 24th were issued a dividend of $0.96 per share. The ex-dividend date was Tuesday, March 24th. This is a positive change from Best Buy’s previous quarterly dividend of $0.95. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.3%. Best Buy’s dividend payout ratio (DPR) is 76.19%.

Insider Buying and Selling at Best Buy

In other Best Buy news, EVP Jason J. Bonfig sold 6,336 shares of Best Buy stock in a transaction on 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 directly owned 79,137 shares in the company, valued at approximately $5,066,350.74. The trade was a 7.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Corie S. Barry sold 42,869 shares of Best Buy stock in a transaction 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 sale, the chief executive officer owned 523,138 shares in the company, valued at $33,491,294.76. The trade was a 7.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 77,247 shares of company stock valued at $4,945,353 over the last quarter. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BBY has been the subject of several recent analyst reports. Telsey Advisory Group lowered their target price on shares of Best Buy from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Wedbush upped their target price on shares of Best Buy from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. DA Davidson set a $78.00 target price on shares of Best Buy in a research note on Thursday, March 5th. BNP Paribas Exane upped their target price on shares of Best Buy from $68.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. Finally, Jefferies Financial Group lowered their target price on shares of Best Buy from $94.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Best Buy has an average rating of “Hold” and an average target price of $70.80.

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.