Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Toroso Investments LLC

Posted by Defense World Staff on Sep 16th, 2023

Toroso Investments LLC raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) by 22.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,725 shares of the technology retailer’s stock after buying an additional 4,919 shares during the period. Toroso Investments LLC’s holdings in Best Buy were worth $2,092,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC grew its stake in shares of Best Buy by 1.6% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 9,250 shares of the technology retailer’s stock worth $724,000 after purchasing an additional 150 shares during the last quarter. Tredje AP fonden grew its stake in shares of Best Buy by 0.4% in the 4th quarter. Tredje AP fonden now owns 40,967 shares of the technology retailer’s stock worth $3,286,000 after purchasing an additional 151 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Best Buy by 2.5% in the 1st quarter. Epoch Investment Partners Inc. now owns 6,189 shares of the technology retailer’s stock worth $484,000 after purchasing an additional 152 shares during the last quarter. Pathstone Family Office LLC grew its stake in shares of Best Buy by 2.2% in the 4th quarter. Pathstone Family Office LLC now owns 7,321 shares of the technology retailer’s stock worth $593,000 after purchasing an additional 157 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Best Buy by 7.2% in the 1st quarter. Signaturefd LLC now owns 2,438 shares of the technology retailer’s stock worth $191,000 after purchasing an additional 164 shares during the last quarter. Institutional investors and hedge funds own 76.10% of the company’s stock.

Best Buy Price Performance

NYSE BBY opened at $72.39 on Friday. The business has a 50 day simple moving average of $78.62 and a 200 day simple moving average of $76.87. Best Buy Co., Inc. has a 52-week low of $60.78 and a 52-week high of $93.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.31 and a current ratio of 0.98. The stock has a market cap of $15.75 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.89 and a beta of 1.54.

Best Buy (NYSE:BBY – Get Free Report) last released its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.16. Best Buy had a return on equity of 49.40% and a net margin of 2.91%. The firm had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $9.52 billion. During the same quarter in the prior year, the firm posted $1.54 EPS. The business’s revenue was down 7.2% on a year-over-year basis. Analysts anticipate that Best Buy Co., Inc. will post 6.23 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 19th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 5.08%. The ex-dividend date is Monday, September 18th. Best Buy’s payout ratio is 63.34%.

Wall Street Analysts Forecast Growth

BBY has been the topic of several recent research reports. Wedbush lifted their price objective on shares of Best Buy from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, August 30th. SpectralCast reiterated a “maintains” rating on shares of Best Buy in a report on Friday, May 26th. Telsey Advisory Group raised their target price on shares of Best Buy from $78.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 30th. Citigroup raised their target price on shares of Best Buy from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Guggenheim reiterated a “buy” rating and issued a $86.00 target price on shares of Best Buy in a report on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Best Buy presently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

Read Our Latest Analysis on Best Buy

Insiders Place Their Bets

In related news, EVP Kathleen Scarlett sold 34,191 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $81.30, for a total value of $2,779,728.30. Following the transaction, the executive vice president now owns 65,039 shares in the company, valued at $5,287,670.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Best Buy news, EVP Kathleen Scarlett sold 34,191 shares of Best Buy stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $81.30, for a total value of $2,779,728.30. Following the transaction, the executive vice president now owns 65,039 shares in the company, valued at $5,287,670.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 100,000 shares of Best Buy stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $85.24, for a total value of $8,524,000.00. Following the completion of the transaction, the chairman now owns 349,448 shares in the company, valued at approximately $29,786,947.52. The disclosure for this sale can be found here. Insiders have sold 384,191 shares of company stock worth $32,028,728 in the last 90 days. Company insiders own 0.56% of the company’s stock.

About Best Buy

(Free Report)

Best Buy Co, Inc engages in the retail of technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, home theater, portable audio comprising headphones and portable speakers, and smart home products.