Tuesday, July 23, 2024

Mission Wealth Management LP Holds $1.12 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Mission Wealth Management LP Reduces Position in Best Buy Co., Inc. – 6.6% Decrease in First Quarter

Are you interested in investing in technology retail stocks? If so, you may want to take a closer look at Best Buy Co., Inc. (NYSE:BBY). Recently, Mission Wealth Management LP reduced its position in Best Buy by 6.6% in the first quarter, but several other hedge funds have also added to or reduced their stakes in the company.

Despite this, Best Buy’s stock is trading up 0.1% and has a market capitalization of $17.79 billion. The company recently reported quarterly earnings that beat expectations, with a net margin of 2.90% and a return on equity of 47.56%. Analysts have set new price targets for the stock, with an average rating of “Moderate Buy” and a consensus price target of $90.87.

Additionally, Best Buy recently announced a quarterly dividend, with a yield of 4.56%. Insider transactions have also been reported, with CEO Corie S. Barry and CAO Mathew Watson selling shares of the company.

Best Buy engages in the retail of technology products in the United States, Canada, and internationally. Their stores provide a wide range of products, including computing and mobile phone products, consumer electronics, and home theaters.

If you’re interested in learning more about Best Buy and staying up to date on the latest news and analyst ratings, you can sign up to receive MarketBeat.com’s FREE daily email newsletter. Don’t miss out on the opportunity to stay informed about this technology retailer’s performance in the market.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The content is based on general research and may not be accurate, reliable, or up-to-date. Before making any financial decisions, it is recommended to consult with a professional financial advisor or conduct thorough research to verify the accuracy of the information presented. The author and publisher disclaim any liability for any financial losses or damages incurred as a result of relying on the information provided in this article. Readers are encouraged to independently verify the facts and information before making any financial decisions.

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