Best Buy Co., Inc. $BBY Shares Sold by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd reduced its stake in Best Buy Co., Inc. by 41.6% during the second quarter, now holding 7,850 shares valued at $527,000.
• Best Buy recently announced a quarterly dividend of $0.95 per share, representing an annualized dividend yield of 4.9%, with a payout ratio currently at 104.97%.
• Despite recent insider sales of 201,833 shares valued at approximately $14.9 million, Best Buy reported a revenue increase of 1.6% year-over-year in its last quarterly earnings.

Bayforest Capital Ltd lessened its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 41.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,850 shares of the technology retailer's stock after selling 5,601 shares during the quarter. Bayforest Capital Ltd's holdings in Best Buy were worth $527,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. IFM Investors Pty Ltd lifted its holdings in shares of Best Buy by 6.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer's stock valued at $3,284,000 after acquiring an additional 3,040 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Best Buy by 7.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,960 shares of the technology retailer's stock valued at $14,560,000 after acquiring an additional 13,378 shares in the last quarter. Blackhawk Capital Partners LLC. acquired a new position in shares of Best Buy during the 1st quarter valued at $1,574,000. Alberta Investment Management Corp lifted its holdings in shares of Best Buy by 25.6% during the 1st quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer's stock valued at $2,422,000 after acquiring an additional 6,700 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in shares of Best Buy by 191.9% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 10,714 shares of the technology retailer's stock valued at $789,000 after acquiring an additional 7,043 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 2,018 shares of the business'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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 196,100 shares of the business's stock in a transaction dated 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 ninety days, insiders have sold 201,833 shares of company stock valued at $14,941,472. Insiders own 0.59% of the company's stock.

Best Buy Price Performance

BBY opened at $77.26 on Wednesday. The company has a 50-day moving average of $74.13 and a 200-day moving average of $70.14. The company has a market capitalization of $16.23 billion, a P/E ratio of 21.34, a PEG ratio of 2.04 and a beta of 1.23. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $99.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04.

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 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 business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. 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. Equities analysts expect that Best Buy Co., Inc. will post 6.18 EPS 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 dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Thursday, September 18th. Best Buy's dividend payout ratio is currently 104.97%.

Analyst Upgrades and Downgrades

BBY has been the topic of several recent research reports. Bank of America reduced their target price on shares of Best Buy from $63.00 to $60.00 and set an "underperform" rating on the stock in a report on Friday, August 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of Best Buy in a report on Wednesday, October 8th. Piper Sandler reiterated a "neutral" rating and issued a $75.00 price objective (down previously from $82.00) on shares of Best Buy in a report on Monday, July 14th. Jefferies Financial Group boosted their price objective on shares of Best Buy from $88.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $90.00 target price on shares of Best Buy in a research report on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Best Buy presently has an average rating of "Hold" and an average 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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