Best Buy Co., Inc. $BBY Shares Purchased by Stablepoint Partners LLC

Stablepoint Partners LLC lifted its stake in Best Buy Co., Inc. (NYSE:BBY) by 12.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,094 shares of the technology retailer’s stock after acquiring an additional 1,337 shares during the period. Stablepoint Partners LLC’s holdings in Best Buy were worth $812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Oliver Lagore Vanvalin Investment Group bought a new stake in Best Buy during the second quarter worth approximately $26,000. Maseco LLP bought a new position in Best Buy during the 2nd quarter valued at $39,000. Bogart Wealth LLC increased its position in shares of 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. True Wealth Design LLC increased its position in shares of Best Buy by 775.3% during the 2nd quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock valued at $43,000 after purchasing an additional 566 shares during the period. Finally, Sentry Investment Management LLC bought a new stake in shares of Best Buy in the 2nd quarter worth $44,000. 80.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Mathew Watson sold 2,018 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total transaction 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 trade represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 74,553 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the transaction, the chairman directly owned 11,451,911 shares in the company, valued at $965,510,616.41. The trade was a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,733,111 shares of company stock valued at $141,293,157 over the last three months. 0.47% of the stock is owned by insiders.

Best Buy Price Performance

Shares of NYSE:BBY opened at $79.40 on Friday. The company’s fifty day moving average is $77.97 and its two-hundred day moving average is $73.41. The company has a market cap of $16.68 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $91.72. 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 issued its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The business had revenue of $9.67 billion for the quarter, compared to the consensus estimate of $9.57 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.Best Buy’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Equities analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be issued a $0.95 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.8%. Best Buy’s dividend payout ratio is currently 125.83%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BBY shares. Citigroup raised their target price on Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Jefferies Financial Group lowered their price objective on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Morgan Stanley increased their target price on shares of Best Buy from $75.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday. Daiwa Capital Markets raised their target price on shares of Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Guggenheim reaffirmed a “buy” rating and issued a $90.00 price target on shares of Best Buy in a report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Best Buy presently has a consensus rating of “Hold” and an average target price of $84.28.

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.