US Bancorp DE decreased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 8.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 227,471 shares of the technology retailer's stock after selling 20,600 shares during the quarter. US Bancorp DE owned approximately 0.11% of Best Buy worth $15,270,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Pinnacle Bancorp Inc. boosted its holdings in shares of Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock valued at $25,000 after buying an additional 178 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Best Buy during the second quarter worth about $26,000. Grove Bank & Trust grew its holdings 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 purchasing an additional 173 shares during the last quarter. Maseco LLP purchased a new position in shares of Best Buy during the second quarter worth about $39,000. Finally, Wealth Preservation Advisors LLC acquired a new position in Best Buy during the first quarter worth approximately $53,000. Institutional investors and hedge funds own 80.96% of the company's stock.
Insider Buying and Selling at Best Buy
In other news, CAO Mathew Watson sold 2,018 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total transaction 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. This represents a 9.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 196,100 shares of the 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 disclosure for this sale can be found here. Insiders have sold a total of 201,833 shares of company stock worth $14,941,472 over the last 90 days. Insiders own 0.47% of the company's stock.
Best Buy Trading Down 6.2%
NYSE BBY opened at $70.53 on Friday. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $99.80. The firm has a 50-day moving average price of $73.70 and a 200 day moving average price of $70.09. The stock has a market capitalization of $14.82 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.85 and a beta of 1.23. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43.
Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. The company had revenue of $9.44 billion for the quarter, compared to analysts' expectations of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.
Best Buy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were issued a $0.95 dividend. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.4%. Best Buy's dividend payout ratio (DPR) is 104.97%.
Wall Street Analysts Forecast Growth
BBY has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on Best Buy from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Truist Financial upped their price target on shares of Best Buy from $69.00 to $72.00 and gave the company a "hold" rating in a research report on Friday, August 29th. Barclays reiterated an "equal weight" rating and issued a $74.00 price target on shares of Best Buy in a research report on Friday, August 29th. Wedbush increased their target price on shares of Best Buy from $70.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Finally, Wall Street Zen upgraded shares of Best Buy from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Best Buy presently has an average rating of "Hold" and an average price target of $81.69.
Get Our Latest Analysis on Best Buy
Best Buy Profile
(
Free Report)
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.
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