Best Buy Co., Inc. $BBY Shares Purchased by Caliber Wealth Management LLC KS

Key Points

• Caliber Wealth Management LLC KS increased its stake in Best Buy Co., Inc. by 28.1% during the second quarter, holding 42,731 shares valued at approximately $2.87 million.
• Best Buy's recent earnings report exceeded analyst expectations, reporting $1.28 earnings per share and revenue of $9.44 billion for the quarter.
• The company declared a quarterly dividend of $0.95 per share, resulting in an annualized yield of 4.6%, but has a high dividend payout ratio of 104.97%.

Caliber Wealth Management LLC KS raised its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 28.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,731 shares of the technology retailer's stock after purchasing an additional 9,367 shares during the quarter. Caliber Wealth Management LLC KS's holdings in Best Buy were worth $2,869,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its position in Best Buy by 3.2% during the first quarter. Janney Montgomery Scott LLC now owns 17,211 shares of the technology retailer's stock valued at $1,267,000 after purchasing an additional 541 shares during the period. Kentucky Retirement Systems lifted its holdings in shares of Best Buy by 7.8% in the 1st quarter. Kentucky Retirement Systems now owns 14,541 shares of the technology retailer's stock valued at $1,070,000 after buying an additional 1,051 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of Best Buy by 4.2% in the first quarter. Asset Management One Co. Ltd. now owns 81,835 shares of the technology retailer's stock worth $6,024,000 after buying an additional 3,280 shares during the last quarter. Community Financial Services Group LLC grew its holdings in Best Buy by 2.7% during the first quarter. Community Financial Services Group LLC now owns 14,924 shares of the technology retailer's stock worth $1,099,000 after acquiring an additional 386 shares during the period. Finally, Moran Wealth Management LLC raised its position in Best Buy by 10.6% during the first quarter. Moran Wealth Management LLC now owns 89,218 shares of the technology retailer's stock valued at $6,567,000 after acquiring an additional 8,534 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Best Buy

In other news, CAO Mathew Watson sold 2,018 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total value of $154,901.68. Following the transaction, the chief accounting officer directly owned 20,132 shares in the company, valued at approximately $1,545,332.32. This represents a 9.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction that occurred 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. In the last three months, insiders have sold 201,833 shares of company stock valued at $14,941,472. 0.59% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Telsey Advisory Group restated an "outperform" rating and set a $90.00 price target on shares of Best Buy in a research report on Friday, August 29th. Barclays reissued an "equal weight" rating and set a $74.00 target price on shares of Best Buy in a research note on Friday, August 29th. Guggenheim restated a "buy" rating and issued a $90.00 price target on shares of Best Buy in a research note on Friday, August 29th. Wall Street Zen downgraded Best Buy from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Best Buy in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $81.69.

Best Buy Price Performance

Shares of NYSE BBY opened at $82.70 on Wednesday. The firm has a 50-day simple moving average of $75.27 and a 200-day simple moving average of $70.51. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $17.38 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.13 and a beta of 1.23. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $95.49.

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 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 for the quarter, compared to analyst estimates of $9.23 billion. During the same period last year, the company posted $1.34 EPS. The business's revenue 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, equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 4.6%. The ex-dividend date was Thursday, September 18th. Best Buy's dividend payout ratio is presently 104.97%.

About Best Buy

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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