Rise Advisors LLC Has $420,000 Stock Position in Best Buy Co., Inc. $BBY

Key Points

• Rise Advisors LLC significantly increased its stake in Best Buy Co., Inc. by 1,886.4%, acquiring a total of 5,701 shares valued at approximately $420,000 as reported in its 13F filing with the SEC.
• Best Buy's most recent earnings report showed net revenue of $9.44 billion, exceeding expectations, with an EPS of $1.28, up from $1.34 in the same quarter last year.
• The company declared a quarterly dividend of $0.95 per share, resulting in an annual yield of 5.0%, despite having a high dividend payout ratio of 104.97%.

Rise Advisors LLC grew its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 1,886.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,701 shares of the technology retailer's stock after acquiring an additional 5,414 shares during the period. Rise Advisors LLC's holdings in Best Buy were worth $420,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Best Buy by 0.7% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 25,414 shares of the technology retailer's stock valued at $1,871,000 after acquiring an additional 174 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Best Buy by 6.3% during the first quarter. NewEdge Advisors LLC now owns 68,931 shares of the technology retailer's stock worth $5,074,000 after purchasing an additional 4,079 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Best Buy by 20.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,872 shares of the technology retailer's stock worth $4,334,000 after purchasing an additional 9,905 shares during the period. Integrated Wealth Concepts LLC grew its holdings in Best Buy by 12.5% during the first quarter. Integrated Wealth Concepts LLC now owns 8,345 shares of the technology retailer's stock worth $614,000 after purchasing an additional 924 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Best Buy during the first quarter worth about $1,832,000. Institutional investors own 80.96% of the company's stock.

Insider Activity at Best Buy

In other Best Buy news, CAO Mathew Watson sold 3,715 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of 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 sale 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 business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were 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. Over the last 90 days, insiders have sold 201,833 shares of company stock valued at $14,941,472. Company insiders own 0.59% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on BBY shares. Citigroup reiterated a "buy" rating on shares of Best Buy in a report on Thursday, August 28th. Piper Sandler reiterated a "neutral" rating and set a $75.00 price target (down previously from $82.00) on shares of Best Buy in a report on Monday, July 14th. JPMorgan Chase & Co. lifted their price target on Best Buy from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Loop Capital reduced their price target on Best Buy from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, Wedbush lifted their price target on Best Buy from $70.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $82.59.

Best Buy Price Performance

Shares of NYSE BBY traded down $0.47 during midday trading on Tuesday, reaching $77.12. The company's stock had a trading volume of 2,842,016 shares, compared to its average volume of 3,798,627. 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 fifty-two week low of $54.99 and a fifty-two week high of $103.48. The business's 50 day moving average price is $70.88 and its two-hundred day moving average price is $70.63. The company has a market cap of $16.20 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.04 and a beta of 1.19.

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

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Thursday, September 18th. Best Buy's payout ratio is presently 104.97%.

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.