Kestra Advisory Services LLC Sells 5,811 Shares of Best Buy Co., Inc. $BBY

Key Points

• Kestra Advisory Services LLC reduced its holding in Best Buy Co., Inc. by 15.8%, now owning approximately 30,945 shares valued at about $2.28 million.
• Best Buy's stock has seen a 3.6% decline recently, with current trading at $72.70, showing a significant price range over the past year between $54.99 and $103.71.
• The company reported an EPS of $1.28 for the last quarter, outperforming estimates and showing a 1.6% increase in revenue year-over-year.

Kestra Advisory Services LLC cut its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 15.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,945 shares of the technology retailer's stock after selling 5,811 shares during the quarter. Kestra Advisory Services LLC's holdings in Best Buy were worth $2,278,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. raised its holdings in Best Buy by 108.5% in the 1st 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 in the 4th quarter worth $31,000. Ancora Advisors LLC raised its holdings in Best Buy by 18,700.0% in the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock worth $32,000 after purchasing an additional 374 shares in the last quarter. Grove Bank & Trust raised its holdings in 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 purchasing an additional 173 shares in the last quarter. Finally, LRI Investments LLC raised its holdings in Best Buy by 36.3% in the 4th quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock worth $45,000 after purchasing an additional 141 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard M. Schulze sold 729,201 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $72.95, for a total value of $53,195,212.95. Following the transaction, the chairman owned 196,100 shares in the company, valued at $14,305,495. This represents a 78.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.59% of the stock is owned by company insiders.

Best Buy Stock Performance

Shares of NYSE BBY traded down $0.19 during trading on Tuesday, reaching $73.45. 1,985,984 shares of the company traded hands, compared to its average volume of 3,657,576. The firm has a 50 day simple moving average of $69.97 and a 200-day simple moving average of $71.11. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $15.52 billion, a PE ratio of 20.30, a P/E/G ratio of 1.95 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.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.06. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The business's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business 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 5.2%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy's dividend payout ratio (DPR) is presently 104.97%.

Analyst Ratings Changes

Several research analysts have commented on BBY shares. Loop Capital decreased their price objective on shares of Best Buy from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, May 30th. Piper Sandler reaffirmed a "neutral" rating and issued a $75.00 target price (down from $82.00) on shares of Best Buy in a research report on Monday, July 14th. UBS Group reduced their target price 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 upped their target price on shares of Best Buy from $75.00 to $77.00 and gave the stock an "in-line" rating in a research report on Friday. Finally, Truist Financial upped their target price on shares of Best Buy from $69.00 to $72.00 and gave the stock a "hold" rating in a research report on Friday. Ten research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $84.44.

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.