M&G PLC Sells 3,054 Shares of Best Buy Co., Inc. $BBY

M&G PLC lowered its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,538 shares of the technology retailer’s stock after selling 3,054 shares during the quarter. M&G PLC owned about 0.06% of Best Buy worth $8,277,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Community Bank & Trust Waco Texas lifted its position in Best Buy by 0.5% during the 1st 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 during the period. HB Wealth Management LLC lifted its holdings 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 purchasing an additional 149 shares during the last quarter. Townsquare Capital LLC raised its stake in 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 buying an additional 153 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in Best Buy by 0.8% in the 2nd quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer’s stock worth $1,278,000 after purchasing an additional 154 shares in the last quarter. Finally, Bailard Inc. grew its holdings in shares of Best Buy by 0.7% during the first quarter. Bailard Inc. now owns 21,965 shares of the technology retailer’s stock valued at $1,617,000 after buying an additional 157 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Best Buy

In other news, CAO Mathew Watson sold 2,018 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the completion of the sale, the chief accounting officer directly owned 20,132 shares of the company’s stock, valued at $1,545,332.32. This trade represents a 9.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard M. Schulze sold 74,553 shares of Best Buy stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $84.31, for a total value of $6,285,563.43. Following the completion of the transaction, the chairman owned 11,451,911 shares of the company’s stock, valued at approximately $965,510,616.41. This trade represents a 0.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,736,826 shares of company stock worth $141,568,327 over the last three months. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BBY shares. Wall Street Zen downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Sunday. Wedbush upped their price target on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Citigroup lifted their target price on shares of Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $83.38.

Best Buy Trading Up 0.1%

Shares of BBY opened at $77.72 on Thursday. The stock has a market capitalization of $16.33 billion, a PE ratio of 21.47, a P/E/G ratio of 2.21 and a beta of 1.25. The company’s fifty day moving average is $77.69 and its 200 day moving average is $72.73. 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 $95.49.

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

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Thursday, September 18th. Best Buy’s payout ratio is presently 104.97%.

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.