J. Safra Sarasin Holding AG Sells 12,535 Shares of Best Buy Co., Inc. $BBY

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Best Buy Co., Inc. by 74.4% during the 2nd quarter, selling 12,535 shares and bringing its total holdings to 4,307 shares worth $289,000.
• Best Buy reported a quarterly earnings per share (EPS) of $1.28, exceeding expectations, along with a revenue of $9.44 billion, which was also above consensus estimates.
• The company announced a quarterly dividend of $0.95, reflecting a 4.9% dividend yield based on an annualized payout of $3.80.

J. Safra Sarasin Holding AG cut its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 74.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,307 shares of the technology retailer's stock after selling 12,535 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Best Buy were worth $289,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its stake in shares of Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock valued at $25,000 after purchasing an additional 178 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in Best Buy in the 2nd quarter valued at approximately $26,000. Grove Bank & Trust boosted its position in Best Buy by 67.1% during the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock worth $32,000 after buying an additional 173 shares during the period. Maseco LLP bought a new stake in Best Buy during the 2nd quarter worth approximately $39,000. Finally, Wealth Preservation Advisors LLC acquired a new position in Best Buy in the 1st quarter valued at approximately $53,000. Institutional investors own 80.96% of the company's stock.

Best Buy Trading Up 0.4%

BBY opened at $76.91 on Monday. The firm has a market capitalization of $16.16 billion, a PE ratio of 21.25, a P/E/G 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. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $101.04. The company's 50-day moving average is $72.81 and its 200 day moving average is $70.05.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The company's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 annualized dividend and a dividend yield of 4.9%. Best Buy's dividend payout ratio is presently 104.97%.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 3,715 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the transaction, the chief accounting officer directly owned 22,150 shares of the company's stock, valued at $1,640,650.50. This trade represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total transaction of $14,511,400.00. 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. 0.59% of the stock is owned by insiders.

Analysts Set New Price Targets

BBY has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Best Buy from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Citigroup reaffirmed a "buy" rating on shares of Best Buy in a research note on Thursday, August 28th. Bank of America decreased their target price on shares of Best Buy from $63.00 to $60.00 and set an "underperform" rating for the company in a research report on Friday, August 29th. Argus restated a "hold" rating on shares of Best Buy in a research report on Tuesday, September 16th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $75.00 price objective (down from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Best Buy currently has an average rating of "Hold" and an average target price 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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