Kera Capital Partners Inc. acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) in the second quarter, HoldingsChannel.com reports. The fund acquired 3,754 shares of the technology retailer’s stock, valued at approximately $252,000.
Other hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in Best Buy by 3,890.0% in the 1st quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock worth $75,353,000 after buying an additional 998,021 shares during the period. AQR Capital Management LLC boosted its holdings in Best Buy by 36.5% in the 1st quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock worth $181,357,000 after buying an additional 671,408 shares during the period. Nuveen LLC bought a new position in Best Buy in the 1st quarter worth $39,579,000. Charles Schwab Investment Management Inc. boosted its holdings in Best Buy by 6.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock worth $512,986,000 after buying an additional 408,605 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Best Buy in the 4th quarter worth $29,090,000. Institutional investors own 80.96% of the company’s stock.
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Best Buy Stock Down 3.2%
BBY opened at $75.96 on Monday. The firm has a 50-day simple moving average of $71.19 and a two-hundred day simple moving average of $70.24. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.48. The company has a market capitalization of $15.96 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.00 and a beta of 1.19. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43.
Best Buy (NYSE:BBY – Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter last year, the firm earned $1.34 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.
Best Buy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.0%. Best Buy’s dividend payout ratio (DPR) is presently 104.97%.
Insider Transactions at Best Buy
In related news, Chairman Richard M. Schulze sold 196,100 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the transaction, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at approximately $1,640,650.50. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,833 shares of company stock valued at $14,941,472. 0.59% of the stock is owned by insiders.
Analyst Ratings Changes
Several research analysts recently weighed in on BBY shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Truist Financial upped their target price on shares of Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, August 29th. Piper Sandler reaffirmed a “neutral” rating and issued a $75.00 target price (down previously from $82.00) on shares of Best Buy in a report on Monday, July 14th. UBS Group dropped their price objective on shares of Best Buy from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, May 30th. Finally, Evercore ISI increased their price objective on shares of Best Buy from $75.00 to $77.00 and gave the company an “in-line” rating in a report on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Best Buy has a consensus rating of “Hold” and a consensus target price of $82.59.
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About Best Buy
(Free Report)
Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, 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, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.
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