Best Buy Co., Inc. $BBY Shares Acquired by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC increased its stake in Best Buy by 108.9%, holding 28,952 shares worth approximately $2.13 million as of its latest SEC filing.
• Best Buy recently reported quarterly earnings, with an EPS of $1.28, exceeding analysts' estimates and generating revenue of $9.44 billion, marking a 1.6% year-over-year increase.
• The company announced a quarterly dividend of $0.95 per share, which reflects an annualized dividend of $3.80 and a yield of 5.0%.

Kestra Investment Management LLC boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 108.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,952 shares of the technology retailer's stock after acquiring an additional 15,096 shares during the period. Kestra Investment Management LLC's holdings in Best Buy were worth $2,131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BBY. Mirae Asset Global Investments Co. Ltd. increased its holdings in Best Buy by 7.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,960 shares of the technology retailer's stock valued at $14,560,000 after buying an additional 13,378 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Best Buy by 5,519.3% during the 1st quarter. GAMMA Investing LLC now owns 173,131 shares of the technology retailer's stock worth $12,744,000 after acquiring an additional 170,050 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Best Buy by 10.2% in the 1st quarter. Rhumbline Advisers now owns 502,272 shares of the technology retailer's stock valued at $36,972,000 after acquiring an additional 46,645 shares during the last quarter. Blackhawk Capital Partners LLC. acquired a new stake in shares of Best Buy during the 1st quarter worth about $1,574,000. Finally, Alberta Investment Management Corp lifted its stake in Best Buy by 25.6% during the first quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer's stock worth $2,422,000 after purchasing an additional 6,700 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Price Performance

BBY stock traded up $1.83 during trading on Thursday, reaching $78.44. 2,720,531 shares of the company were exchanged, compared to its average volume of 3,659,501. The stock's 50 day moving average price is $70.98 and its 200 day moving average price is $70.68. The company has a market cap of $16.48 billion, a P/E ratio of 21.67, a PEG ratio of 2.03 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. 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 released its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating 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%.Best Buy's quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the business posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share 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. Investors of record on Thursday, September 18th will be given a $0.95 dividend. The ex-dividend date is Thursday, September 18th. This represents a $3.80 annualized dividend and a dividend yield of 4.8%. Best Buy's payout ratio is currently 104.97%.

Wall Street Analysts Forecast Growth

BBY has been the subject of several recent analyst reports. Guggenheim restated a "buy" rating and set a $90.00 price objective on shares of Best Buy in a research report on Friday, August 29th. JPMorgan Chase & Co. upped their price objective on shares of Best Buy from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Barclays reiterated an "equal weight" rating and set a $74.00 target price on shares of Best Buy in a research report on Friday, August 29th. Wells Fargo & Company upped their target price on Best Buy from $67.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Finally, Wedbush lifted their price target on Best Buy from $70.00 to $75.00 and gave the stock a "neutral" 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 given a Sell rating to the company. Based on data from MarketBeat, Best Buy has an average rating of "Hold" and an average price target of $82.59.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 196,100 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total value of $14,511,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 2,018 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the transaction, the chief accounting officer directly owned 20,132 shares of the company's stock, valued at $1,545,332.32. The trade was a 9.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,833 shares of company stock worth $14,941,472. 0.47% of the stock is owned by corporate insiders.

Best Buy 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.