Comprehensive Financial Consultants Institutional Inc. Raises Stake in Best Buy Co., Inc. $BBY

Key Points

• Comprehensive Financial Consultants Institutional Inc. increased its stake in Best Buy by 10.2%, holding 54,290 shares valued at approximately $3.64 million.
• Insider transactions included Chairman Richard M. Schulze selling 196,100 shares for about $14.5 million, and the company has seen a total of 201,833 shares sold by insiders recently.
• Best Buy's recent earnings report showed a 1.28 EPS, surpassing analyst forecasts, and the company announced a quarterly dividend of $0.95, yielding 4.9%.

Comprehensive Financial Consultants Institutional Inc. boosted its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 10.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,290 shares of the technology retailer's stock after buying an additional 5,032 shares during the period. Best Buy makes up approximately 1.2% of Comprehensive Financial Consultants Institutional Inc.'s investment portfolio, making the stock its 26th largest holding. Comprehensive Financial Consultants Institutional Inc.'s holdings in Best Buy were worth $3,644,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Confluence Wealth Services Inc. boosted its position in Best Buy by 12.2% in the second quarter. Confluence Wealth Services Inc. now owns 13,059 shares of the technology retailer's stock valued at $877,000 after buying an additional 1,417 shares during the last quarter. 111 Capital purchased a new stake in Best Buy in the second quarter valued at approximately $676,000. Greenwood Capital Associates LLC boosted its position in Best Buy by 38.1% in the second quarter. Greenwood Capital Associates LLC now owns 17,193 shares of the technology retailer's stock valued at $1,154,000 after buying an additional 4,747 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Best Buy by 9.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 220,909 shares of the technology retailer's stock valued at $14,830,000 after buying an additional 19,949 shares during the last quarter. Finally, Lecap Asset Management Ltd. boosted its position in Best Buy by 74.4% in the second quarter. Lecap Asset Management Ltd. now owns 15,862 shares of the technology retailer's stock valued at $1,065,000 after buying an additional 6,766 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 196,100 shares of the stock in a transaction on Wednesday, September 3rd. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mathew Watson sold 3,715 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the completion of the transaction, the chief accounting officer directly owned 22,150 shares of the company's stock, valued at approximately $1,640,650.50. This represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,833 shares of company stock valued at $14,941,472. 0.59% of the stock is owned by corporate insiders.

Best Buy Trading Up 0.4%

Shares of NYSE:BBY opened at $76.91 on Monday. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $101.04. The firm has a market capitalization of $16.16 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. The business's 50 day moving average price is $72.81 and its 200-day moving average price is $70.05.

Best Buy (NYSE:BBY - Get Free Report) last announced 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. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same quarter last year, the firm 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 research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a 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%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BBY shares. Barclays restated an "equal weight" rating and issued a $74.00 price objective on shares of Best Buy in a research report on Friday, August 29th. Wedbush upped their price objective on Best Buy from $70.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Citigroup restated a "buy" rating on shares of Best Buy in a research report on Thursday, August 28th. Bank of America lowered their price objective on Best Buy from $63.00 to $60.00 and set an "underperform" rating on the stock in a research report on Friday, August 29th. Finally, Evercore ISI upped their price objective on Best Buy from $75.00 to $77.00 and gave the stock an "in-line" rating in a research report on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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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