Best Buy Co., Inc. $BBY Shares Acquired by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Best Buy by 11.5% during the second quarter, owning approximately $14.8 million worth of shares.
• Insider transactions revealed that Chairman Richard M. Schulze sold over 196,100 shares of Best Buy stock for around $14.5 million.
• Best Buy issued a quarterly dividend of $0.95 per share with a dividend yield of 5.3%, though its payout ratio is notably high at 104.97%.

Wealth Enhancement Advisory Services LLC grew its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 11.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,464 shares of the technology retailer's stock after buying an additional 21,112 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.10% of Best Buy worth $14,814,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BBY. Pinnacle Bancorp Inc. increased its stake in Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock valued at $25,000 after purchasing an additional 178 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new position in Best Buy in the 4th quarter valued at approximately $31,000. Grove Bank & Trust increased its stake in Best Buy by 67.1% in the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 173 shares in the last quarter. Tompkins Financial Corp purchased a new position in Best Buy in the 1st quarter valued at approximately $48,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Best Buy by 25.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer's stock valued at $53,000 after purchasing an additional 147 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 196,100 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total transaction of $14,511,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mathew Watson sold 3,715 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.07, for a total value of $275,170.05. Following the transaction, the chief accounting officer owned 22,150 shares in the company, valued at approximately $1,640,650.50. This represents a 14.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,833 shares of company stock worth $14,941,472. 0.59% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Argus reaffirmed a "hold" rating on shares of Best Buy in a research note on Tuesday, September 16th. Citigroup reissued a "buy" rating on shares of Best Buy in a research report on Thursday, August 28th. Guggenheim reissued a "buy" rating and set a $90.00 price target on shares of Best Buy in a research report on Friday, August 29th. JPMorgan Chase & Co. raised their price target on Best Buy from $88.00 to $89.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Finally, Piper Sandler reissued a "neutral" rating and set a $75.00 price target (down previously from $82.00) on shares of Best Buy in a research report on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $82.59.

Best Buy Price Performance

Shares of Best Buy stock opened at $72.23 on Monday. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $103.48. The stock has a market capitalization of $15.18 billion, a P/E ratio of 19.95, a PEG ratio of 1.90 and a beta of 1.19. 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 business's fifty day moving average price is $71.36 and its 200 day moving average price is $69.98.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results 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 return on equity of 47.32% and a net margin of 1.87%.The firm had revenue of $9.44 billion for the quarter, compared to analysts' expectations of $9.23 billion. During the same quarter last year, the firm earned $1.34 earnings per share. 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. As a group, research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Thursday, September 18th. Best Buy's payout ratio is currently 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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