Thrivent Financial for Lutherans Grows Position in Best Buy Co., Inc. $BBY

Thrivent Financial for Lutherans grew its stake in Best Buy Co., Inc. (NYSE:BBY) by 17.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,540,944 shares of the technology retailer’s stock after acquiring an additional 230,984 shares during the quarter. Thrivent Financial for Lutherans owned about 0.73% of Best Buy worth $103,444,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Townsquare Capital LLC lifted its holdings in Best Buy by 2.5% in the 1st quarter. Townsquare Capital LLC now owns 6,162 shares of the technology retailer’s stock valued at $454,000 after purchasing an additional 153 shares in the last quarter. Nuveen LLC acquired a new position in shares of Best Buy in the first quarter valued at approximately $39,579,000. Public Sector Pension Investment Board lifted its stake in shares of Best Buy by 8.5% during the first quarter. Public Sector Pension Investment Board now owns 25,297 shares of the technology retailer’s stock valued at $1,862,000 after buying an additional 1,989 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in Best Buy by 4.0% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,953 shares of the technology retailer’s stock worth $512,000 after acquiring an additional 268 shares during the last quarter. Finally, Boston Partners purchased a new stake in Best Buy in the 1st quarter worth approximately $1,219,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of NYSE:BBY opened at $73.48 on Friday. The business has a 50-day moving average of $77.79 and a two-hundred day moving average of $73.60. The firm has a market capitalization of $15.40 billion, a PE ratio of 24.33, a P/E/G ratio of 1.86 and a beta of 1.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $91.68.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. The business had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, research 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 disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be given a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $3.80 annualized dividend and a dividend yield of 5.2%. Best Buy’s dividend payout ratio is presently 125.83%.

Insider Activity at Best Buy

In related news, Chairman Richard M. Schulze sold 500,000 shares of Best Buy stock in a transaction on Monday, October 20th. The shares were sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the transaction, the chairman owned 12,486,904 shares in the company, valued at approximately $1,009,316,450.32. The trade was a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 1,534,993 shares of company stock valued at $126,626,855. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, October 8th. Piper Sandler upped their target price on Best Buy from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Wall Street Zen upgraded Best Buy from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. UBS Group lifted their price target on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Finally, Argus reiterated a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.47.

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.