Integrated Wealth Concepts LLC Sells 11,113 Shares of Best Buy Co., Inc. $BBY

Key Points

• Integrated Wealth Concepts LLC cut its Best Buy stake by 66.4% in the second quarter, selling 11,113 shares and retaining 5,634 shares valued at approximately $428,000.
• Best Buy reported quarterly EPS of $1.47, exceeding the $1.39 consensus estimate, while revenue rose 3.6% year over year to $9.78 billion. The company issued fiscal 2027 EPS guidance of $6.70–$6.90.
• Analysts have a consensus “Hold” rating and an average price target of $85.40, below the stock’s reported $94.94 opening price. Best Buy also declared a quarterly dividend of $0.96 per share, representing a 4.0% annualized yield.

Integrated Wealth Concepts LLC reduced its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 66.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,634 shares of the technology retailer's stock after selling 11,113 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Best Buy were worth $428,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. HighTower Advisors LLC grew its holdings in shares of Best Buy by 250.6% in the fourth quarter. HighTower Advisors LLC now owns 101,292 shares of the technology retailer's stock valued at $6,779,000 after acquiring an additional 72,398 shares in the last quarter. Corient Private Wealth LP purchased a new position in Best Buy in the second quarter worth $18,648,000. Canada Pension Plan Investment Board bought a new stake in shares of Best Buy during the 2nd quarter worth $2,734,000. BlackRock Inc. purchased a new stake in Best Buy during the second quarter worth about $1,932,812,000. Finally, Meeder Asset Management Inc. bought a new stake in Best Buy in the second quarter worth about $1,224,000. 80.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BBY shares. UBS Group reiterated a "neutral" rating and issued a $90.00 target price (up from $86.00) on shares of Best Buy in a research note on Friday, August 28th. Wells Fargo & Company upped their price target on Best Buy from $65.00 to $85.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 11th. Loop Capital downgraded Best Buy from a "buy" rating to a "hold" rating and set a $82.00 price target for the company. in a research note on Monday, July 13th. Piper Sandler lifted their price objective on Best Buy from $77.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, August 20th. Finally, Bank of America initiated coverage on Best Buy in a research note on Monday, August 3rd. They issued an "underperform" rating and a $80.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $85.40.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard Schulze sold 300,000 shares of Best Buy stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total value of $27,753,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 718,601 shares of company stock worth $60,451,555. 0.50% of the stock is owned by company insiders.

Best Buy Stock Performance

Best Buy stock opened at $94.94 on Wednesday. The firm's fifty day moving average price is $87.09 and its 200-day moving average price is $74.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.41 and a current ratio of 1.12. The stock has a market cap of $19.91 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 2.33 and a beta of 1.28. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $95.85.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.08. Best Buy had a return on equity of 48.14% and a net margin of 3.01%.The firm had revenue of $9.78 billion during the quarter, compared to analysts' expectations of $9.59 billion. During the same period in the prior year, the business earned $1.28 EPS. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, equities research analysts expect that Best Buy Co., Inc. will post 6.82 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 17th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.0%. The ex-dividend date is Thursday, September 17th. Best Buy's dividend payout ratio (DPR) is presently 63.89%.

Best Buy Profile

Best Buy Co, Inc is a specialty retailer of technology products and services operating under the Best Buy brand. The company sells consumer electronics, computers, mobile phones, appliances, entertainment products, smart-home equipment, and related accessories through its retail stores, websites, and other sales channels.

Best Buy also provides technology support, installation, repair, and consultation services through Geek Squad. Its offerings include assistance with device setup, home theater installation, computer and appliance support, and technology solutions for consumers and small businesses.

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