SBI Okasan Asset Management Co.Ltd. Buys New Stake in Best Buy Co., Inc. $BBY

SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, Holdings Channel reports. The institutional investor bought 8,500 shares of the technology retailer’s stock, valued at approximately $577,000.

Several other institutional investors have also bought and sold shares of the business. Huntington National Bank lifted its position in Best Buy by 12.0% during the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock valued at $98,000 after purchasing an additional 139 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its position in Best Buy by 0.9% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock valued at $1,114,000 after purchasing an additional 152 shares during the last quarter. Applied Finance Capital Management LLC lifted its position in Best Buy by 3.8% during the fourth quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock valued at $286,000 after purchasing an additional 157 shares during the last quarter. International Private Wealth Advisors LLC lifted its position in Best Buy by 5.2% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock valued at $224,000 after purchasing an additional 165 shares during the last quarter. Finally, J. Team Financial Inc. lifted its position in Best Buy by 4.2% during the fourth quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer’s stock valued at $285,000 after purchasing an additional 171 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial increased their price objective on shares of Best Buy from $66.00 to $81.00 and gave the company a “hold” rating in a research report on Friday. The Goldman Sachs Group increased their price objective on shares of Best Buy from $59.00 to $62.00 and gave the company a “sell” rating in a research report on Friday. Wedbush increased their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley raised their price target on Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Loop Capital lifted their price objective on shares of Best Buy from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $78.60.

Insider Buying and Selling

In related news, CEO Corie S. Barry sold 42,869 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $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 is accessible through the SEC website. Also, EVP Kathleen Scarlett sold 8,049 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $515,296.98. Following the completion of the transaction, the executive vice president directly owned 102,669 shares in the company, valued at $6,572,869.38. This represents a 7.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 77,247 shares of company stock worth $4,945,353 over the last ninety days. 0.47% of the stock is owned by insiders.

Trending Headlines about 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

Best Buy Price Performance

Best Buy stock opened at $78.16 on Friday. The firm has a 50-day moving average price of $62.29 and a 200-day moving average price of $66.88. The firm has a market capitalization of $16.47 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. The company has a current ratio of 1.12, a quick ratio of 0.43 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $84.99.

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

Best Buy Dividend Announcement

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

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.