Stance Capital LLC Cuts Holdings in Best Buy Co., Inc. $BBY

Key Points

• Stance Capital LLC has reduced its stake in Best Buy Co., Inc. by 24.1%, selling 9,746 shares during the first quarter, leaving them with 30,706 shares valued at approximately $2.26 million.
• Best Buy recently reported earnings per share (EPS) of $1.28, beating analysts' estimates of $1.22, and its quarterly revenue increased 1.6% year-over-year.
• Best Buy's board has declared a quarterly dividend of $0.95 per share, translating to an annualized dividend of $3.80 and a yield of 5.0%.

Stance Capital LLC lessened its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 24.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,706 shares of the technology retailer's stock after selling 9,746 shares during the quarter. Best Buy comprises 1.6% of Stance Capital LLC's holdings, making the stock its 29th biggest position. Stance Capital LLC's holdings in Best Buy were worth $2,260,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. 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 purchasing an additional 178 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Best Buy in the 4th quarter worth $31,000. Grove Bank & Trust grew its stake 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 last quarter. LRI Investments LLC grew its stake in Best Buy by 36.3% during the 4th 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 last quarter. Finally, Tompkins Financial Corp purchased a new position in Best Buy during the 1st quarter worth $48,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 196,100 shares of Best Buy 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the transaction, the chief accounting officer owned 22,150 shares of the company's stock, valued at $1,640,650.50. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,833 shares of company stock valued at $14,941,472 in the last quarter. Company insiders own 0.59% of the company's stock.

Best Buy Stock Performance

NYSE:BBY traded down $0.36 during mid-day trading on Wednesday, hitting $76.66. The company's stock had a trading volume of 2,858,161 shares, compared to its average volume of 3,664,967. The business's fifty day moving average is $70.88 and its two-hundred day moving average is $70.63. The stock has a market cap of $16.20 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.04 and a beta of 1.19. 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 1 year low of $54.99 and a 1 year 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 analysts' consensus estimates of $1.22 by $0.06. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The company's revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Telsey Advisory Group restated an "outperform" rating and set a $90.00 target price on shares of Best Buy in a research note on Friday, August 29th. Barclays restated an "equal weight" rating and set a $74.00 target price on shares of Best Buy in a research note on Friday, August 29th. Bank of America dropped their target price on Best Buy from $63.00 to $60.00 and set an "underperform" rating on the stock in a research note on Friday, August 29th. Guggenheim reiterated a "buy" rating and set a $90.00 price objective on shares of Best Buy in a research note on Friday, August 29th. Finally, Loop Capital lowered their price objective on shares of Best Buy from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Nine research 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. Based on data from MarketBeat, Best Buy has a consensus rating of "Hold" and an average price target of $82.59.

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.