Best Buy Co., Inc. $BBY Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. reduced its stake in Best Buy Co., Inc. by 11.5% in Q2, selling 3,292 shares, which left them with 25,256 shares valued at approximately $1.72 million.
• Insiders at Best Buy have recently sold significant amounts of stock, including CAO Mathew Watson, who sold 2,018 shares, and Chairman Richard M. Schulze, who sold 325,836 shares valued at over $26.8 million.
• Best Buy announced a quarterly dividend of $0.95 per share, translating to an annualized yield of 4.6%, with a payout ratio currently at 104.97%.

Ethic Inc. decreased its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 11.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,256 shares of the technology retailer's stock after selling 3,292 shares during the quarter. Ethic Inc.'s holdings in Best Buy were worth $1,723,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Community Bank & Trust Waco Texas grew its position in shares of Best Buy by 0.5% during the first quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer's stock worth $2,280,000 after buying an additional 145 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Best Buy by 2.4% during the first quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer's stock worth $467,000 after buying an additional 149 shares in the last quarter. Townsquare Capital LLC grew its position in shares of Best Buy by 2.5% during the first quarter. Townsquare Capital LLC now owns 6,162 shares of the technology retailer's stock worth $454,000 after buying an additional 153 shares in the last quarter. Capital Investment Advisors LLC grew its position in shares of Best Buy by 0.8% during the second quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer's stock worth $1,278,000 after buying an additional 154 shares in the last quarter. Finally, Bailard Inc. grew its position in shares of Best Buy by 0.7% during the first quarter. Bailard Inc. now owns 21,965 shares of the technology retailer's stock worth $1,617,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 2,018 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the sale, the chief accounting officer directly owned 20,132 shares in the company, valued at approximately $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 325,836 shares of the firm's stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $82.35, for a total value of $26,832,594.60. Following the completion of the sale, the chairman owned 12,161,068 shares in the company, valued at $1,001,463,949.80. The trade was a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,027,669 shares of company stock worth $82,189,066 over the last quarter. 0.47% of the stock is currently owned by company insiders.

Best Buy Stock Performance

BBY stock opened at $83.07 on Friday. 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 stock has a market capitalization of $17.45 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.19 and a beta of 1.23. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $95.49. The stock's fifty day moving average is $75.88 and its two-hundred day moving average is $71.03.

Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.06. The company had revenue of $9.44 billion for the quarter, compared to analysts' expectations of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Thursday, September 18th. Best Buy's dividend payout ratio (DPR) is presently 104.97%.

Wall Street Analyst Weigh In

BBY has been the subject of a number of recent analyst reports. 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 research report on Friday, August 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Best Buy in a research report on Friday. Barclays restated an "equal weight" rating and set a $74.00 price objective on shares of Best Buy in a research note on Friday, August 29th. Argus restated a "hold" rating on shares of Best Buy in a research note on Tuesday, September 16th. Finally, Jefferies Financial Group raised their price objective on Best Buy from $88.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $81.69.

Best Buy 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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