Silver Oak Securities Incorporated purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,947 shares of the technology retailer’s stock, valued at approximately $198,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFM Investors Pty Ltd raised its stake in shares of Best Buy by 6.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer’s stock valued at $3,284,000 after acquiring an additional 3,040 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Best Buy by 7.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,960 shares of the technology retailer’s stock valued at $14,560,000 after acquiring an additional 13,378 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Best Buy by 5,519.3% in the 1st quarter. GAMMA Investing LLC now owns 173,131 shares of the technology retailer’s stock valued at $12,744,000 after acquiring an additional 170,050 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Best Buy by 10.2% in the 1st quarter. Rhumbline Advisers now owns 502,272 shares of the technology retailer’s stock valued at $36,972,000 after acquiring an additional 46,645 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. bought a new position in shares of Best Buy in the 1st quarter valued at approximately $1,574,000. 80.96% of the stock is owned by hedge funds and other institutional investors.
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Best Buy Price Performance
Shares of NYSE:BBY opened at $73.11 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $15.36 billion, a PE ratio of 20.20, a PEG ratio of 1.90 and a beta of 1.19. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.48. The business’s 50 day moving average is $71.47 and its 200-day moving average is $69.95.
Best Buy (NYSE:BBY – Get Free Report) last posted its earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.Best Buy’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Sell-side analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.
Best Buy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Thursday, September 18th. Best Buy’s dividend payout ratio (DPR) is 104.97%.
Insider Activity at Best Buy
In other Best Buy news, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction on Wednesday, September 3rd. The stock was 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 Best Buy stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the completion of the transaction, the chief accounting officer 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. Insiders have sold a total of 201,833 shares of company stock valued at $14,941,472 in the last 90 days. 0.59% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
BBY has been the topic of a number of recent analyst reports. Wedbush raised their price objective on Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. JPMorgan Chase & Co. raised their price objective on Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. Guggenheim reaffirmed a “buy” rating and issued a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Finally, Evercore ISI raised their target price on Best Buy from $75.00 to $77.00 and gave the company an “in-line” rating in a report on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $81.50.
Read Our Latest Stock Report on BBY
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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