Best Buy Co., Inc. $BBY Stake Boosted by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd lifted its stake in Best Buy Co., Inc. (NYSE:BBY) by 13,660.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,376 shares of the technology retailer’s stock after acquiring an additional 1,366 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Best Buy were worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Best Buy in the second quarter worth $26,000. Maseco LLP acquired a new position in shares of Best Buy in the second quarter worth $39,000. Bogart Wealth LLC increased its stake in shares of Best Buy by 202.0% in the second quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock worth $41,000 after acquiring an additional 404 shares during the last quarter. Sentry Investment Management LLC acquired a new position in shares of Best Buy in the second quarter worth $44,000. Finally, Wealth Preservation Advisors LLC acquired a new position in shares of Best Buy in the first quarter worth $53,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BBY. Argus reaffirmed a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Bank of America decreased their price objective on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a report on Friday, August 29th. Piper Sandler reiterated a “neutral” rating and issued a $75.00 price objective (down from $82.00) on shares of Best Buy in a report on Monday, July 14th. Guggenheim reiterated a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a report on Friday, August 29th. Finally, Barclays reiterated an “equal weight” rating and issued a $74.00 price objective on shares of Best Buy in a report on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.69.

Best Buy Stock Up 0.8%

BBY stock opened at $83.07 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $95.49. The company has a 50-day moving average of $75.88 and a two-hundred day moving average of $70.92. The stock has a market capitalization of $17.45 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 2.17 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 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the prior year, the company earned $1.34 earnings per share. The business’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. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders 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 yield of 4.6%. The ex-dividend date was Thursday, September 18th. Best Buy’s dividend payout ratio is 104.97%.

Insider Transactions at Best Buy

In other Best Buy news, CAO Mathew Watson sold 2,018 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the sale, the chief accounting officer directly owned 20,132 shares in the company, valued at $1,545,332.32. This represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 325,836 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $82.35, for a total transaction of $26,832,594.60. Following the transaction, the chairman directly owned 12,161,068 shares of the company’s stock, valued at $1,001,463,949.80. This represents a 2.61% 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 over the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Best Buy Company 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.