Best Buy Co., Inc. $BBY Shares Sold by OLD National Bancorp IN

Key Points

• OLD National Bancorp IN reduced its holdings in Best Buy by 9.4% during the 2nd quarter, now owning 76,390 shares worth approximately $5.13 million.
• Best Buy reported earnings of $1.28 per share in its last quarter, surpassing expectations and showing a revenue increase of 1.6% year-over-year.
• Best Buy announced a quarterly dividend of $0.95 per share, with a dividend yield of 4.9% and a payout ratio of 104.97%.

OLD National Bancorp IN decreased its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 9.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,390 shares of the technology retailer's stock after selling 7,900 shares during the quarter. OLD National Bancorp IN's holdings in Best Buy were worth $5,128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BBY. Pacer Advisors Inc. lifted its position in Best Buy by 3,890.0% during the 1st quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer's stock worth $75,353,000 after acquiring an additional 998,021 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Best Buy by 36.5% during the 1st quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer's stock worth $181,357,000 after buying an additional 671,408 shares during the last quarter. Nuveen LLC bought a new position in Best Buy during the first quarter worth $39,579,000. Charles Schwab Investment Management Inc. lifted its position in shares of Best Buy by 6.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer's stock worth $512,986,000 after buying an additional 408,605 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Best Buy by 40.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 874,538 shares of the technology retailer's stock worth $64,375,000 after purchasing an additional 252,544 shares during the period. Institutional investors and hedge funds own 80.96% of the company's stock.

Best Buy Stock Up 0.4%

NYSE BBY opened at $76.91 on Monday. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $101.04. The company has a market capitalization of $16.16 billion, a P/E ratio of 21.25, a PEG ratio of 2.02 and a beta of 1.23. The company's 50 day simple moving average is $72.81 and its 200 day simple moving average is $70.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36.

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, topping analysts' consensus estimates of $1.22 by $0.06. The firm had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Equities research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy's dividend payout ratio is currently 104.97%.

Insiders Place Their Bets

In other news, 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 value of $14,511,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mathew Watson sold 3,715 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the sale, the chief accounting officer owned 22,150 shares in the company, valued at $1,640,650.50. This represents a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,833 shares of company stock valued at $14,941,472 in the last quarter. 0.59% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Best Buy from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Evercore ISI raised their price target on Best Buy from $75.00 to $77.00 and gave the company an "in-line" rating in a report on Friday, August 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Best Buy in a report on Saturday, September 27th. Telsey Advisory Group reiterated an "outperform" rating and issued a $90.00 target price on shares of Best Buy in a research report on Friday, August 29th. Finally, Barclays restated an "equal weight" rating and set a $74.00 price target on shares of Best Buy in a research report on Friday, August 29th. Nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Best Buy currently has an average rating of "Hold" and a consensus target price of $81.50.

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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