Forum Financial Management LP Invests $269,000 in Best Buy Co., Inc. $BBY

Forum Financial Management LP acquired a new position in Best Buy Co., Inc. (NYSE:BBY) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,006 shares of the technology retailer’s stock, valued at approximately $269,000.

Other hedge funds have also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Best Buy in the second quarter worth about $26,000. Maseco LLP bought a new position in Best Buy during the second quarter valued at approximately $39,000. Bogart Wealth LLC boosted its stake in Best Buy by 202.0% during the second quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock valued at $41,000 after buying an additional 404 shares during the last quarter. Sentry Investment Management LLC bought a new position in Best Buy during the second quarter valued at approximately $44,000. Finally, Wealth Preservation Advisors LLC bought a new position in Best Buy during the first quarter valued at approximately $53,000. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 500,000 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the transaction, the chairman directly owned 12,486,904 shares in the company, valued at $1,009,316,450.32. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the completion of the transaction, the chief accounting officer owned 22,150 shares in the company, valued at $1,640,650.50. This represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,027,669 shares of company stock worth $82,189,066 over the last 90 days. 0.59% of the stock is currently owned by company insiders.

Best Buy Trading Up 0.8%

Shares of NYSE BBY opened at $83.07 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The business’s 50 day moving average price is $75.88 and its 200-day moving average price is $71.08. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $95.49. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.19 and a beta of 1.23.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share 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 revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 4.6%. The ex-dividend date was Thursday, September 18th. Best Buy’s dividend payout ratio (DPR) is presently 104.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BBY shares. Citigroup reissued a “buy” rating on shares of Best Buy in a research note on Thursday, August 28th. Piper Sandler reissued a “neutral” rating and set a $75.00 price target (down from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Evercore ISI increased their price target on Best Buy from $75.00 to $77.00 and gave the company an “in-line” rating in a research note on Friday, August 29th. Telsey Advisory Group reissued an “outperform” rating and set a $90.00 price target on shares of Best Buy in a research note on Friday, August 29th. Finally, JPMorgan Chase & Co. increased their price target on Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. Nine 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $81.69.

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.