Concurrent Investment Advisors LLC Has $2.65 Million Stock Position in Best Buy Co., Inc. $BBY

Concurrent Investment Advisors LLC increased its stake in Best Buy Co., Inc. (NYSE:BBY) by 28.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,041 shares of the technology retailer’s stock after purchasing an additional 7,799 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Best Buy were worth $2,650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BBY. Harbor Capital Advisors Inc. boosted its holdings in shares of Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after buying an additional 138 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Best Buy in the 2nd quarter valued at approximately $26,000. CYBER HORNET ETFs LLC acquired a new position in Best Buy in the 2nd quarter worth approximately $33,000. MUFG Securities EMEA plc acquired a new position in Best Buy in the 2nd quarter worth approximately $38,000. Finally, Maseco LLP purchased a new position in Best Buy during the 2nd quarter worth approximately $39,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Stock Up 2.1%

BBY opened at $68.09 on Friday. The company has a market capitalization of $14.27 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $91.68. The business has a 50-day moving average of $72.99 and a 200-day moving average of $73.58.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The firm had revenue of $9.67 billion for the quarter, compared to the consensus estimate of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Equities research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were issued a dividend of $0.95 per share. The ex-dividend date was Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.6%. Best Buy’s dividend payout ratio (DPR) is currently 125.83%.

Analyst Ratings Changes

BBY has been the subject of a number of research analyst reports. BNP Paribas Exane reduced their target price on Best Buy from $69.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, November 26th. Wall Street Zen downgraded Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Jefferies Financial Group lowered their target price on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Daiwa Capital Markets increased their price target on shares of Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, November 28th. Finally, Truist Financial set a $77.00 price target on shares of Best Buy in a report on Wednesday, December 17th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $83.58.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 74,553 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total value of $6,285,563.43. Following the completion of the sale, the chairman directly owned 11,451,911 shares in the company, valued at approximately $965,510,616.41. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 1,534,993 shares of company stock valued at $126,626,855 in the last three months. Corporate 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.