Best Buy Co., Inc. $BBY Shares Bought by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC increased its stake in Best Buy Co., Inc. by 83.5% during the 1st quarter, owning 161,505 shares valued at approximately $11.89 million.
• Insider transactions included significant sales by CAO Mathew Watson and Chairman Richard M. Schulze, with insiders having sold a total of 931,034 shares worth around $68.14 million in the last three months.
• Best Buy's recent quarterly earnings surpassed analysts' expectations, reporting $1.28 EPS and a revenue of $9.44 billion for the quarter, showing a year-over-year increase of 1.6%.

Gotham Asset Management LLC raised its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 83.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 161,505 shares of the technology retailer's stock after purchasing an additional 73,491 shares during the period. Gotham Asset Management LLC owned 0.08% of Best Buy worth $11,888,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Pinnacle Bancorp Inc. grew its stake in Best Buy by 108.5% in the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock worth $25,000 after purchasing an additional 178 shares in the last quarter. Vermillion Wealth Management Inc. bought a new position in Best Buy during the 4th quarter worth approximately $31,000. Grove Bank & Trust grew its position in shares of Best Buy by 67.1% in the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock worth $32,000 after acquiring an additional 173 shares in the last quarter. LRI Investments LLC increased its holdings in shares of Best Buy by 36.3% in the 4th quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock valued at $45,000 after acquiring an additional 141 shares during the last quarter. Finally, Tompkins Financial Corp acquired a new stake in shares of Best Buy during the 1st quarter valued at approximately $48,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 196,100 shares of the firm's stock in a transaction dated 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the business's stock in a transaction dated Friday, August 29th. The stock was 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 trade 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 worth $14,941,472 over the last three months. Corporate insiders own 0.47% of the company's stock.

Best Buy Stock Performance

NYSE BBY traded up $1.77 on Thursday, hitting $78.38. The stock had a trading volume of 1,804,517 shares, compared to its average volume of 3,653,689. The company's 50-day moving average is $70.98 and its two-hundred day moving average is $70.68. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $103.48. The stock has a market cap of $16.47 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 2.03 and a beta of 1.19. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43.

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 the consensus estimate of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. 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, analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy's dividend payout ratio (DPR) is 104.97%.

Wall Street Analyst Weigh In

A number of research firms have commented on BBY. Citigroup reaffirmed a "buy" rating on shares of Best Buy in a report on Thursday, August 28th. Evercore ISI lifted their price target on shares of Best Buy from $75.00 to $77.00 and gave the company an "in-line" rating in a report on Friday, August 29th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Best Buy in a research report on Friday, August 29th. BNP Paribas raised shares of Best Buy to a "hold" rating in a report on Friday, May 30th. Finally, Loop Capital decreased their target price on Best Buy from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, May 30th. 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 MarketBeat.com, Best Buy presently has a consensus rating of "Hold" and a consensus target price 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.