111 Capital Invests $676,000 in Best Buy Co., Inc. $BBY

111 Capital bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,067 shares of the technology retailer’s stock, valued at approximately $676,000.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Best Buy by 144.0% during the fourth quarter. Wellington Management Group LLP now owns 5,683 shares of the technology retailer’s stock valued at $488,000 after buying an additional 3,354 shares during the period. GAMMA Investing LLC boosted its stake in shares of Best Buy by 5,519.3% during the 1st quarter. GAMMA Investing LLC now owns 173,131 shares of the technology retailer’s stock worth $12,744,000 after acquiring an additional 170,050 shares in the last quarter. Merit Financial Group LLC grew its position in shares of Best Buy by 74.8% during the 1st quarter. Merit Financial Group LLC now owns 9,224 shares of the technology retailer’s stock valued at $679,000 after acquiring an additional 3,946 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of Best Buy by 41.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,799 shares of the technology retailer’s stock valued at $427,000 after purchasing an additional 1,703 shares in the last quarter. Finally, Stablepoint Partners LLC raised its holdings in Best Buy by 66.7% in the 1st quarter. Stablepoint Partners LLC now owns 10,757 shares of the technology retailer’s stock worth $792,000 after purchasing an additional 4,303 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on BBY. Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a report on Friday, August 29th. Wells Fargo & Company lifted their price target on shares of Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Telsey Advisory Group restated an “outperform” rating and set a $90.00 price objective on shares of Best Buy in a research report on Friday, August 29th. Wedbush increased their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Finally, Piper Sandler reissued a “neutral” rating and set a $75.00 target price (down previously from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $81.50.

Best Buy Trading Up 0.4%

Shares of BBY opened at $76.91 on Friday. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $101.04. The stock has a market cap of $16.16 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23. The firm’s fifty day moving average is $72.81 and its two-hundred day moving average is $70.08. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43.

Best Buy (NYSE:BBY) last posted 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 net margin of 1.87% and a return on equity of 47.32%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be given a $0.95 dividend. The ex-dividend date is Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.9%. Best Buy’s dividend payout ratio is 104.97%.

Insider Activity at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 196,100 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total value of $14,511,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mathew Watson sold 2,018 shares of Best Buy 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 transaction, 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. In the last ninety days, insiders sold 201,833 shares of company stock valued at $14,941,472. 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.