Best Buy Co., Inc. $BBY Shares Bought by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Best Buy by 13.9%, owning 167,236 shares worth approximately $11.23 million as of the latest SEC filing.
• Best Buy reported $1.28 EPS for the last quarter, exceeding analysts' expectations of $1.22, with a revenue increase of 1.6% year-over-year.
• The company declared a quarterly dividend of $0.95 per share, yielding 4.8%, with a total annualized dividend of $3.80.

TD Asset Management Inc increased its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 13.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,236 shares of the technology retailer's stock after purchasing an additional 20,397 shares during the period. TD Asset Management Inc owned 0.08% of Best Buy worth $11,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC boosted its stake in Best Buy by 8.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,973 shares of the technology retailer's stock worth $468,000 after purchasing an additional 546 shares in the last quarter. CWM LLC boosted its stake in Best Buy by 123.5% in the 2nd quarter. CWM LLC now owns 49,334 shares of the technology retailer's stock worth $3,312,000 after purchasing an additional 27,259 shares in the last quarter. Conning Inc. boosted its stake in Best Buy by 5.4% in the 2nd quarter. Conning Inc. now owns 479,055 shares of the technology retailer's stock worth $32,159,000 after purchasing an additional 24,741 shares in the last quarter. Aberdeen Group plc boosted its stake in Best Buy by 20.7% in the 2nd quarter. Aberdeen Group plc now owns 254,013 shares of the technology retailer's stock worth $17,040,000 after purchasing an additional 43,498 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Best Buy by 20.6% in the 2nd quarter. Blue Trust Inc. now owns 1,160 shares of the technology retailer's stock worth $78,000 after purchasing an additional 198 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Price Performance

Best Buy stock opened at $79.71 on Friday. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $96.77. The firm has a market capitalization of $16.75 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 2.10 and a beta of 1.23. The company has a fifty day simple moving average of $74.78 and a 200-day simple moving average of $70.23. 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 released its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same quarter in the prior year, the firm earned $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. On average, equities analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.8%. Best Buy's dividend payout ratio is presently 104.97%.

Insiders Place Their Bets

In related news, Chairman Richard M. Schulze sold 196,100 shares of the company's 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 2,018 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the sale, the chief accounting officer directly owned 20,132 shares of the company's stock, valued at $1,545,332.32. This represents a 9.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 201,833 shares of company stock valued at $14,941,472 in the last ninety days. Insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BBY shares. Telsey Advisory Group reiterated an "outperform" rating and issued a $90.00 target price on shares of Best Buy in a research note on Friday, August 29th. Piper Sandler restated a "neutral" rating and set a $75.00 price objective (down from $82.00) on shares of Best Buy in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their price objective on shares of Best Buy from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Wells Fargo & Company lifted their price objective on shares of Best Buy from $67.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Best Buy in a research note on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $81.69.

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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