Johnson Financial Group Inc. Sells 5,969 Shares of Best Buy Co., Inc. $BBY

Johnson Financial Group Inc. reduced its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 21.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,743 shares of the technology retailer’s stock after selling 5,969 shares during the quarter. Johnson Financial Group Inc.’s holdings in Best Buy were worth $1,480,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Private Advisor Group LLC raised its stake in Best Buy by 7.5% during the first quarter. Private Advisor Group LLC now owns 5,983 shares of the technology retailer’s stock worth $440,000 after acquiring an additional 420 shares in the last quarter. Cetera Investment Advisers increased its position in Best Buy by 2.9% during the 1st quarter. Cetera Investment Advisers now owns 73,139 shares of the technology retailer’s stock worth $5,384,000 after purchasing an additional 2,081 shares in the last quarter. HB Wealth Management LLC lifted its stake in Best Buy by 2.4% in the 1st quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer’s stock valued at $467,000 after purchasing an additional 149 shares during the last quarter. LPL Financial LLC lifted its stake in Best Buy by 11.1% in the 1st quarter. LPL Financial LLC now owns 130,074 shares of the technology retailer’s stock valued at $9,575,000 after purchasing an additional 12,999 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Best Buy by 27.1% in the first quarter. Mackenzie Financial Corp now owns 68,988 shares of the technology retailer’s stock valued at $5,078,000 after buying an additional 14,714 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBY has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Best Buy from $79.00 to $84.00 and gave the stock a “hold” rating in a report on Wednesday. Wedbush restated a “neutral” rating and set a $75.00 price objective on shares of Best Buy in a research report on Thursday, November 20th. Argus reiterated a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Guggenheim reissued a “buy” rating and set a $90.00 price target on shares of Best Buy in a research note on Wednesday. Finally, Citigroup raised their price objective on shares of Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $84.53.

Insider Activity

In other news, Chairman Richard M. Schulze sold 500,000 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $80.83, for a total value of $40,415,000.00. Following the transaction, the chairman directly owned 12,486,904 shares of the company’s stock, valued at $1,009,316,450.32. The trade was a 3.85% decrease in their position. The sale 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 firm’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 directly owned 20,132 shares of the company’s stock, valued at $1,545,332.32. This represents a 9.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,733,111 shares of company stock valued at $141,293,157. Corporate insiders own 0.47% of the company’s stock.

Best Buy Stock Performance

NYSE:BBY opened at $80.90 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $91.72. The company has a 50 day simple moving average of $77.83 and a two-hundred day simple moving average of $73.37. The company has a market capitalization of $17.00 billion, a PE ratio of 22.35, a P/E/G ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the firm posted $1.26 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) is presently 125.83%.

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.