Focus Partners Advisor Solutions LLC Buys 7,043 Shares of Best Buy Co., Inc. $BBY

Key Points

• Focus Partners Advisor Solutions LLC significantly increased its holdings in Best Buy by acquiring an additional 7,043 shares, bringing their total to 10,714 shares valued at approximately $789,000.
• Several large institutional investors have also enhanced their stakes in Best Buy, with Pacer Advisors Inc. increasing its holdings by a substantial 3,890.0% during the same quarter.
• Best Buy recently announced a quarterly dividend of $0.95, yielding 5.1%, with a payout ratio currently at 104.97%.

Focus Partners Advisor Solutions LLC grew its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 191.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,714 shares of the technology retailer's stock after purchasing an additional 7,043 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Best Buy were worth $789,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BBY. Mirae Asset Global Investments Co. Ltd. lifted its position in Best Buy by 7.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,960 shares of the technology retailer's stock valued at $14,560,000 after buying an additional 13,378 shares during the period. GAMMA Investing LLC grew its stake in shares of Best Buy by 5,519.3% during the 1st quarter. GAMMA Investing LLC now owns 173,131 shares of the technology retailer's stock worth $12,744,000 after purchasing an additional 170,050 shares during the period. Rhumbline Advisers boosted its stake in Best Buy by 10.2% during the 1st quarter. Rhumbline Advisers now owns 502,272 shares of the technology retailer's stock worth $36,972,000 after purchasing an additional 46,645 shares during the last quarter. Blackhawk Capital Partners LLC. acquired a new stake in Best Buy in the 1st quarter valued at about $1,574,000. Finally, Alberta Investment Management Corp raised its holdings in shares of Best Buy by 25.6% in the 1st quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer's stock valued at $2,422,000 after purchasing an additional 6,700 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

Insider Transactions at Best Buy

In other news, Chairman Richard M. Schulze sold 196,100 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total transaction of $14,511,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mathew Watson sold 3,715 shares of the firm'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 value of $275,170.05. Following the completion of the sale, the chief accounting officer directly owned 22,150 shares of the company's stock, valued at $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. In the last quarter, insiders sold 201,833 shares of company stock valued at $14,941,472. Insiders own 0.59% of the company's stock.

Best Buy Stock Up 1.8%

Shares of BBY traded up $1.41 during mid-day trading on Monday, hitting $77.58. 3,692,866 shares of the company's stock were exchanged, compared to its average volume of 3,668,361. The company has a market cap of $16.40 billion, a PE ratio of 21.43, a P/E/G ratio of 2.00 and a beta of 1.19. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.48. The company has a 50-day simple moving average of $70.54 and a 200 day simple moving average of $70.67. 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 quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same period last year, the company earned $1.34 earnings per share. The firm's revenue 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. On average, research analysts forecast 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. Investors of record on Thursday, September 18th will be paid a $0.95 dividend. The ex-dividend date is Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a yield of 4.9%. Best Buy's dividend payout ratio (DPR) is 104.97%.

Analyst Ratings Changes

Several brokerages have weighed in on BBY. Piper Sandler restated a "neutral" rating and set a $75.00 target price (down from $82.00) on shares of Best Buy in a research report on Monday, July 14th. BNP Paribas upgraded shares of Best Buy to a "hold" rating in a report on Friday, May 30th. UBS Group lowered their price target on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Evercore ISI increased their target price on Best Buy from $75.00 to $77.00 and gave the company an "in-line" rating in a report on Friday, August 29th. Finally, Barclays reaffirmed an "equal weight" rating and issued a $74.00 price objective on shares of Best Buy in a report on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $82.59.

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.