Bank Hapoalim BM Decreases Holdings in Best Buy Co., Inc. $BBY

Key Points

• Bank Hapoalim BM reduced its stake in Best Buy Co., Inc. by 54.6% in the second quarter, now holding 3,840 shares worth $258,000.
• Insider trading activity included CAO Mathew Watson and Chairman Richard M. Schulze selling significant amounts of shares, totaling 201,833 shares valued at $14.9 million in the last ninety days.
• Best Buy reported $1.28 earnings per share for the last quarter, exceeding expectations, and announced a quarterly dividend of $0.95 to be paid on October 9th.

Bank Hapoalim BM decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 54.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,840 shares of the technology retailer's stock after selling 4,615 shares during the period. Bank Hapoalim BM's holdings in Best Buy were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Best Buy by 6.2% in the first 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 last quarter. Invesco Ltd. raised its holdings in shares of Best Buy by 6.4% in the first quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer's stock worth $289,051,000 after buying an additional 234,669 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Best Buy by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer's stock worth $240,173,000 after buying an additional 105,710 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Best Buy by 36.5% in the first 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 last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Best Buy by 3.3% in the first quarter. Federated Hermes Inc. now owns 1,665,228 shares of the technology retailer's stock worth $122,577,000 after buying an additional 52,550 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Insiders Place Their Bets

In other Best Buy news, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total transaction of $14,511,400.00. The disclosure for this sale can be found here. Insiders sold 201,833 shares of company stock valued at $14,941,472 in the last ninety days. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BBY has been the subject of a number of research analyst reports. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $90.00 price target on shares of Best Buy in a report on Friday, August 29th. Bank of America decreased their price target on shares of Best Buy from $63.00 to $60.00 and set an "underperform" rating for the company in a report on Friday, August 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Best Buy in a report on Saturday, September 27th. Evercore ISI increased their price objective on shares of Best Buy from $75.00 to $77.00 and gave the stock an "in-line" rating in a research note on Friday, August 29th. Finally, Wall Street Zen upgraded shares of Best Buy from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Best Buy presently has an average rating of "Hold" and a consensus target price of $81.50.

Best Buy Stock Up 0.4%

BBY opened at $76.91 on Friday. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $101.04. 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 company has a fifty day moving average of $72.81 and a two-hundred day moving average of $70.10. The stock has a market capitalization of $16.16 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.02 and a beta of 1.23.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share 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 company had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.23 billion. During the same quarter in the previous year, the company earned $1.34 earnings per share. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders 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 yield of 4.9%. Best Buy's payout ratio is presently 104.97%.

Best Buy Company 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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