NewEdge Advisors LLC Buys 4,079 Shares of Best Buy Co., Inc. $BBY

Key Points

• NewEdge Advisors LLC increased its holdings in Best Buy Co., Inc. by 6.3% during Q1, owning 68,931 shares valued at approximately $5.07 million.
• Pinnacle Bancorp Inc. significantly boosted its holdings by 108.5% in the first quarter, now owning 342 shares worth about $25,000.
• Best Buy announced a quarterly dividend of $0.95 per share, with a payout ratio currently at 104.97% and a yield of 4.9%.

NewEdge Advisors LLC grew its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 6.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 68,931 shares of the technology retailer's stock after acquiring an additional 4,079 shares during the period. NewEdge Advisors LLC's holdings in Best Buy were worth $5,074,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Pinnacle Bancorp Inc. increased its position in shares of Best Buy by 108.5% during the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock worth $25,000 after buying an additional 178 shares during the period. Vermillion Wealth Management Inc. acquired a new stake in shares of Best Buy during the fourth quarter worth $31,000. Grove Bank & Trust increased its position in shares of Best Buy by 67.1% during the first 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. LRI Investments LLC increased its position in shares of Best Buy by 36.3% during the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock worth $45,000 after buying an additional 141 shares during the period. Finally, Tompkins Financial Corp acquired a new stake in shares of Best Buy during the first quarter worth $48,000. Institutional investors own 80.96% of the company's stock.

Best Buy Stock Down 3.2%

Shares of NYSE BBY traded down $2.50 during mid-day trading on Friday, reaching $75.96. 2,139,676 shares of the company's stock traded hands, compared to its average volume of 3,650,776. The stock has a market cap of $15.96 billion, a P/E ratio of 20.98, a PEG ratio of 2.02 and a beta of 1.19. The business has a 50-day simple moving average of $71.11 and a 200 day simple moving average of $70.60. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.48. 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 (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, beating analysts' consensus estimates of $1.22 by $0.06. The firm had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The business's revenue was up 1.6% on a year-over-year basis. During the same period last year, the company earned $1.34 earnings per share. 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 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy's dividend payout ratio (DPR) is presently 104.97%.

Insider Transactions at Best Buy

In related 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 document filed with the SEC, which can be accessed through this hyperlink. Also, 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 in the company, valued at $1,640,650.50. The trade was 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. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wedbush increased their price objective on shares of Best Buy from $70.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Guggenheim reiterated a "buy" rating and set a $90.00 price objective on shares of Best Buy in a research report on Friday, August 29th. BNP Paribas upgraded shares of Best Buy to a "hold" rating in a report on Friday, May 30th. Bank of America reduced their price target on shares of Best Buy from $63.00 to $60.00 and set an "underperform" rating for the company in a report on Friday, August 29th. Finally, Wells Fargo & Company raised their price target on shares of Best Buy from $67.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Nine investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $82.59.

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.