Best Buy Co., Inc. $BBY Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its position in Best Buy Co., Inc. (NYSE:BBY) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,423 shares of the technology retailer’s stock after acquiring an additional 4,281 shares during the quarter. Wealthfront Advisers LLC owned approximately 0.06% of Best Buy worth $7,883,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BBY. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Best Buy during the second quarter worth about $26,000. Maseco LLP acquired a new position in shares of Best Buy during the second quarter worth about $39,000. Bogart Wealth LLC grew its position in shares of Best Buy by 202.0% during the second quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock worth $41,000 after buying an additional 404 shares in the last quarter. Sentry Investment Management LLC acquired a new position in shares of Best Buy during the second quarter worth about $44,000. Finally, Wealth Preservation Advisors LLC acquired a new position in shares of Best Buy during the first quarter worth about $53,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 325,836 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $82.35, for a total transaction of $26,832,594.60. Following the completion of the sale, the chairman owned 12,161,068 shares in the company, valued at $1,001,463,949.80. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mathew Watson sold 2,018 shares of the company’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 sale, the chief accounting officer 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 disclosure for this sale can be found here. Insiders have sold 1,027,669 shares of company stock valued at $82,189,066 in the last 90 days. Company insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BBY. Argus reissued a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Guggenheim restated a “buy” rating and set a $90.00 target price on shares of Best Buy in a research note on Friday, August 29th. Wall Street Zen cut Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. JPMorgan Chase & Co. boosted their target price on Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, August 29th. Finally, Piper Sandler restated a “neutral” rating and set a $75.00 target price (down previously from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Nine 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. Based on data from MarketBeat.com, Best Buy has an average rating of “Hold” and a consensus price target of $81.69.

Best Buy Price Performance

Shares of NYSE BBY opened at $82.89 on Tuesday. 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 twelve month low of $54.99 and a twelve month high of $95.49. The stock has a 50 day moving average of $76.11 and a two-hundred day moving average of $71.21. The stock has a market cap of $17.42 billion, a P/E ratio of 22.90, a P/E/G ratio of 2.19 and a beta of 1.23.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter in the prior year, the business earned $1.34 earnings per share. The company’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. On average, research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Thursday, September 18th. Best Buy’s dividend payout ratio is 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.