Abel Hall LLC Acquires New Stake in Best Buy Co., Inc. $BBY

Abel Hall LLC acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 6,155 shares of the technology retailer’s stock, valued at approximately $413,000.

Several other large investors also recently added to or reduced their stakes in the business. Community Bank & Trust Waco Texas boosted its stake in 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 buying an additional 145 shares during the period. HB Wealth Management LLC boosted its stake in 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 buying an additional 149 shares during the period. Townsquare Capital LLC boosted 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 period. Capital Investment Advisors LLC boosted its stake in 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 buying an additional 154 shares during the period. Finally, Bailard Inc. boosted its stake in 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 period. Institutional investors own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 3,715 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.07, for a total transaction of $275,170.05. Following the transaction, the chief accounting officer owned 22,150 shares in the company, valued at $1,640,650.50. The trade was a 14.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the business’s stock in a transaction dated 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 90 days, insiders have sold 201,833 shares of company stock worth $14,941,472. 0.59% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on BBY. JPMorgan Chase & Co. lifted their price target on Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, August 29th. Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Piper Sandler reaffirmed a “neutral” rating and set a $75.00 price target (down previously 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. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a research note on Saturday, September 27th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $81.50.

Best Buy Stock Down 0.6%

BBY opened at $75.18 on Wednesday. The company has a market cap of $15.79 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.99 and a beta of 1.23. The business’s 50-day moving average price is $73.14 and its 200-day moving average price is $70.10. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $99.80.

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

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be issued a $0.95 dividend. The ex-dividend date is Thursday, September 18th. This represents a $3.80 annualized dividend and a dividend yield of 5.1%. Best Buy’s payout ratio is currently 104.97%.

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.