GAMMA Investing LLC Acquires 4,718 Shares of Best Buy Co., Inc. $BBY

Key Points

• GAMMA Investing LLC increased its holdings in Best Buy by 200.6% during the 2nd quarter, acquiring an additional 4,718 shares, bringing their total to 7,070 shares valued at approximately $475,000.
• Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock for a total of $14.51 million on September 3rd, while the CAO Mathew Watson sold 3,715 shares, reducing their ownership by 14.36%.
• Best Buy announced a quarterly dividend of $0.95 per share, which represents an annualized yield of 5.1%, with a dividend payout ratio of 104.97%.

GAMMA Investing LLC raised its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 200.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,070 shares of the technology retailer's stock after buying an additional 4,718 shares during the period. GAMMA Investing LLC's holdings in Best Buy were worth $475,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BBY. Pinnacle Bancorp Inc. boosted its holdings in Best Buy by 108.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock valued at $25,000 after acquiring an additional 178 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new position in Best Buy in the 2nd quarter worth approximately $26,000. Grove Bank & Trust lifted its position in Best Buy by 67.1% in the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 173 shares during the last quarter. Tompkins Financial Corp purchased a new stake in shares of Best Buy during the first quarter valued at approximately $48,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Best Buy by 25.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer's stock worth $53,000 after purchasing an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Insider Buying and Selling

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 transaction of $14,511,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was 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 in the company, 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. Insiders have sold 201,833 shares of company stock valued at $14,941,472 in the last ninety days. Insiders own 0.47% of the company's stock.

Best Buy Stock Up 0.1%

Shares of NYSE:BBY opened at $74.27 on Friday. The firm has a market capitalization of $15.60 billion, a P/E ratio of 20.52, a P/E/G ratio of 1.95 and a beta of 1.19. 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 50 day moving average price of $71.75 and a 200-day moving average price of $69.95. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $103.48.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Thursday, September 18th. Best Buy's dividend payout ratio is 104.97%.

Analysts Set New Price Targets

BBY has been the subject of a number of recent analyst reports. Guggenheim reiterated a "buy" rating and set a $90.00 price target on shares of Best Buy in a report on Friday, August 29th. Loop Capital decreased their price objective on shares of Best Buy from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Wells Fargo & Company increased their target price on shares of Best Buy from $67.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Argus reissued a "hold" rating on shares of Best Buy in a research note on Tuesday, September 16th. Finally, Evercore ISI upped their price target on Best Buy from $75.00 to $77.00 and gave the company an "in-line" rating in a research report on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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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