NorthCrest Asset Manangement LLC Buys 1,727 Shares of Best Buy Co., Inc. $BBY

NorthCrest Asset Manangement LLC increased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 15.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,840 shares of the technology retailer’s stock after acquiring an additional 1,727 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Best Buy were worth $926,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. raised its holdings in Best Buy by 108.5% in the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 178 shares during the period. Vermillion Wealth Management Inc. acquired a new position in shares of Best Buy in the 4th quarter valued at $31,000. Grove Bank & Trust grew its holdings in shares of Best Buy by 67.1% in the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock valued at $32,000 after buying an additional 173 shares during the period. Tompkins Financial Corp acquired a new position in shares of Best Buy in the 1st quarter valued at $48,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Best Buy by 25.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer’s stock valued at $53,000 after buying an additional 147 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Down 2.0%

Shares of NYSE:BBY opened at $72.23 on Friday. The company’s 50-day moving average price is $71.36 and its two-hundred day moving average price is $70.08. 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 one year low of $54.99 and a one year high of $103.48. The stock has a market capitalization of $15.18 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19.

Best Buy (NYSE:BBY) last issued 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 net margin of 1.87% and a return on equity of 47.32%. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the previous year, the firm posted $1.34 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 5.3%. Best Buy’s payout ratio is 104.97%.

Analyst Ratings Changes

BBY has been the subject of several research analyst reports. Barclays reissued an “equal weight” rating and issued a $74.00 price target on shares of Best Buy in a report on Friday, August 29th. Argus reissued a “hold” rating on shares of Best Buy in a report on Tuesday. Truist Financial boosted their price target on shares of Best Buy from $69.00 to $72.00 and gave the company a “hold” rating in a report on Friday, August 29th. Citigroup reaffirmed a “buy” rating on shares of Best Buy in a research note on Thursday, August 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $82.59.

Insider Activity

In other Best Buy news, 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 transaction of $14,511,400.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Mathew Watson sold 2,018 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the sale, the chief accounting officer directly owned 20,132 shares in the company, valued at $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,833 shares of company stock worth $14,941,472 over the last three months. Insiders own 0.47% of the company’s stock.

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.