Best Buy Co., Inc. $BBY Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC decreased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 9.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,968 shares of the technology retailer’s stock after selling 709 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Best Buy were worth $468,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BBY. Community Bank & Trust Waco Texas grew its stake in shares of Best Buy by 0.5% during the first quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer’s stock valued at $2,280,000 after acquiring an additional 145 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Best Buy by 2.4% during the first quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer’s stock valued at $467,000 after acquiring an additional 149 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of Best Buy by 2.5% during the first quarter. Townsquare Capital LLC now owns 6,162 shares of the technology retailer’s stock valued at $454,000 after acquiring an additional 153 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of Best Buy by 0.8% during the second quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer’s stock valued at $1,278,000 after acquiring an additional 154 shares in the last quarter. Finally, Bailard Inc. grew its stake in Best Buy by 0.7% in the first quarter. Bailard Inc. now owns 21,965 shares of the technology retailer’s stock worth $1,617,000 after purchasing an additional 157 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BBY. 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 note on Friday, August 29th. Piper Sandler reiterated a “neutral” rating and issued a $75.00 price target (down from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Evercore ISI lifted their price target on Best Buy from $75.00 to $77.00 and gave the stock an “in-line” rating in a research note on Friday, August 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a research note on Wednesday. Finally, Truist Financial lifted their price target on Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $81.69.

Best Buy Stock Performance

Shares of NYSE BBY opened at $75.23 on Friday. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $73.57 and its two-hundred day moving average price is $70.15. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $99.80. The stock has a market capitalization of $15.81 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.02 and a beta of 1.23.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter last year, the company posted $1.34 earnings per share. Best Buy’s 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. As a group, sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Thursday, September 18th. Best Buy’s payout ratio is 104.97%.

Insider Buying and Selling

In other news, CAO Mathew Watson sold 2,018 shares of Best Buy stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the sale, the chief accounting officer owned 20,132 shares of the company’s stock, valued at approximately $1,545,332.32. The trade was a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,833 shares of company stock worth $14,941,472. Corporate insiders own 0.47% of the company’s stock.

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.