111 Capital Makes New $676,000 Investment in Best Buy Co., Inc. $BBY

Key Points

• 111 Capital made a new investment in Best Buy Co., Inc. worth approximately $676,000, acquiring 10,067 shares in the second quarter.
• Several hedge funds have increased their holdings in Best Buy, with Pinnacle Bancorp Inc. boosting its stake by 108.5% in the first quarter.
• Best Buy announced a quarterly dividend of $0.95 per share, representing a yield of 4.9%, set to be paid on October 9th.

111 Capital purchased a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,067 shares of the technology retailer's stock, valued at approximately $676,000.

Several other hedge funds have also recently modified their holdings of BBY. Pinnacle Bancorp Inc. increased its holdings in Best Buy by 108.5% during the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock valued at $25,000 after buying an additional 178 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Best Buy in the 2nd quarter valued at $26,000. Grove Bank & Trust raised its position in shares of Best Buy by 67.1% in the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock worth $32,000 after acquiring an additional 173 shares in the last quarter. Maseco LLP bought a new position in shares of Best Buy in the 2nd quarter worth $39,000. Finally, Wealth Preservation Advisors LLC bought a new stake in Best Buy during the first quarter valued at about $53,000. Hedge funds and other institutional investors own 80.96% of the company's stock.

Analyst Ratings Changes

BBY has been the subject of a number of recent research reports. Truist Financial boosted 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Best Buy in a research report on Saturday, September 27th. Evercore ISI raised their price objective on Best Buy from $75.00 to $77.00 and gave the stock an "in-line" rating in a research report on Friday, August 29th. Citigroup restated a "buy" rating on shares of Best Buy in a research note on Thursday, August 28th. Finally, Wedbush increased their price target on Best Buy from $70.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $81.50.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard M. Schulze sold 196,100 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 2,018 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the transaction, the chief accounting officer directly owned 20,132 shares of the company's stock, valued at approximately $1,545,332.32. This trade represents a 9.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,833 shares of company stock worth $14,941,472 over the last ninety days. Insiders own 0.47% of the company's stock.

Best Buy Stock Performance

Shares of BBY opened at $76.91 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The stock has a 50-day moving average of $72.81 and a two-hundred day moving average of $70.08. The stock has a market cap of $16.16 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.02 and a beta of 1.23. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $101.04.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.23 billion. During the same period last year, the business posted $1.34 earnings per share. The company'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. As a group, research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 4.9%. The ex-dividend date is Thursday, September 18th. Best Buy's payout ratio is presently 104.97%.

Best Buy Profile

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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