Best Buy Co., Inc. $BBY Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Best Buy Co., Inc. by 5.7%, now holding 86,362 shares valued at approximately $5.8 million.
• Best Buy's recent earnings report indicated an earnings per share of $1.28, surpassing estimates, with revenue of $9.44 billion for the quarter.
• Best Buy has declared a quarterly dividend of $0.95 per share, reflecting an annualized yield of 5.0%.

Public Employees Retirement System of Ohio reduced its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 5.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,362 shares of the technology retailer's stock after selling 5,225 shares during the period. Public Employees Retirement System of Ohio's holdings in Best Buy were worth $5,797,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Maseco LLP acquired a new position in shares of Best Buy in the second quarter worth $39,000. GAMMA Investing LLC increased its position in Best Buy by 200.6% during the 2nd quarter. GAMMA Investing LLC now owns 7,070 shares of the technology retailer's stock worth $475,000 after purchasing an additional 4,718 shares in the last quarter. Sowell Financial Services LLC raised its stake in Best Buy by 19.0% in the 2nd quarter. Sowell Financial Services LLC now owns 6,218 shares of the technology retailer's stock valued at $417,000 after purchasing an additional 991 shares during the last quarter. Silver Oak Securities Incorporated acquired a new position in Best Buy in the 2nd quarter valued at about $198,000. Finally, UMB Bank n.a. lifted its holdings in Best Buy by 16.7% in the 2nd quarter. UMB Bank n.a. now owns 3,337 shares of the technology retailer's stock valued at $224,000 after purchasing an additional 478 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Insider Activity

In other news, CAO Mathew Watson sold 2,018 shares of Best Buy stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total transaction of $154,901.68. Following the sale, the chief accounting officer owned 20,132 shares in the company, valued at $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 196,100 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was 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. Over the last quarter, insiders have sold 201,833 shares of company stock worth $14,941,472. Company insiders own 0.59% of the company's stock.

Best Buy Price Performance

Best Buy stock opened at $76.14 on Monday. The firm has a fifty day moving average of $71.92 and a 200-day moving average of $69.94. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $103.48. 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 firm has a market capitalization of $16.00 billion, a P/E ratio of 21.03, a PEG ratio of 2.00 and a beta of 1.19.

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 for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $1.34 EPS. The business's quarterly 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. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 5.0%. The ex-dividend date is Thursday, September 18th. Best Buy's dividend payout ratio (DPR) is presently 104.97%.

Analyst Upgrades and Downgrades

BBY has been the subject of a number of analyst reports. Citigroup reissued a "buy" rating on shares of Best Buy in a research report on Thursday, August 28th. Guggenheim reaffirmed a "buy" rating and issued a $90.00 target price on shares of Best Buy in a research note on Friday, August 29th. Telsey Advisory Group reissued an "outperform" rating and set a $90.00 price target on shares of Best Buy in a research note on Friday, August 29th. Truist Financial lifted their price objective on Best Buy from $69.00 to $72.00 and gave the company a "hold" rating in a research report on Friday, August 29th. Finally, Argus reiterated a "hold" rating on shares of Best Buy in a research note on Tuesday, September 16th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Best Buy currently has an average rating of "Hold" and an average target price of $81.50.

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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