Rehmann Capital Advisory Group Decreases Stock Position in Best Buy Co., Inc. $BBY

Rehmann Capital Advisory Group lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 45.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,910 shares of the technology retailer’s stock after selling 3,265 shares during the period. Rehmann Capital Advisory Group’s holdings in Best Buy were worth $262,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BBY. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Best Buy in the second quarter worth about $26,000. Maseco LLP purchased a new position in shares of Best Buy in the second quarter worth about $39,000. Bogart Wealth LLC increased its holdings in Best Buy by 202.0% during the 2nd quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock valued at $41,000 after purchasing an additional 404 shares during the period. Sentry Investment Management LLC purchased a new position in Best Buy during the 2nd quarter valued at about $44,000. Finally, Wealth Preservation Advisors LLC purchased a new position in Best Buy during the 1st quarter valued at about $53,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 0.8%

BBY stock opened at $83.07 on Friday. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $95.49. The business’s 50 day moving average price is $75.88 and its two-hundred day moving average price is $70.92. 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 company 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 posted its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the prior year, the business earned $1.34 EPS. The business’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. As a group, analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Thursday, September 18th. Best Buy’s payout ratio is currently 104.97%.

Insider Buying and Selling

In other news, Chairman Richard M. Schulze sold 325,836 shares of the business’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 value of $26,832,594.60. Following the sale, the chairman directly owned 12,161,068 shares of the company’s stock, valued at $1,001,463,949.80. The trade was a 2.61% decrease in their position. The sale was disclosed in a document filed 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 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 completion of the sale, the chief accounting officer directly owned 20,132 shares in the company, valued at approximately $1,545,332.32. This represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,027,669 shares of company stock worth $82,189,066. Insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a report on Friday, August 29th. JPMorgan Chase & Co. boosted their price target on Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Argus restated a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Wall Street Zen downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Jefferies Financial Group boosted their price target on Best Buy from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.69.

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.