Best Buy Co., Inc. $BBY Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its holdings in Best Buy Co., Inc. (NYSE:BBY) by 9.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 185,848 shares of the technology retailer’s stock after selling 19,616 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Best Buy were worth $13,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BBY. Harbor Capital Advisors Inc. raised its stake in Best Buy by 69.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 138 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of Best Buy in the 2nd quarter valued at approximately $33,000. MUFG Securities EMEA plc acquired a new position in shares of Best Buy in the second quarter valued at approximately $38,000. Maseco LLP acquired a new position in shares of Best Buy in the second quarter valued at approximately $39,000. Finally, Bogart Wealth LLC raised its stake in shares of Best Buy by 202.0% during the second quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock worth $41,000 after purchasing an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Activity at Best Buy

In related news, Chairman Richard M. Schulze sold 74,553 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $84.31, for a total value of $6,285,563.43. Following the sale, the chairman owned 11,451,911 shares in the company, valued at $965,510,616.41. This represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 334,993 shares of company stock worth $28,233,849. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 8th. Jefferies Financial Group reduced their target price on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Piper Sandler lifted their target price on shares of Best Buy from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Citigroup boosted their price target on shares of Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Finally, Morgan Stanley reduced their price objective on shares of Best Buy from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.37.

Best Buy Stock Performance

NYSE:BBY opened at $67.02 on Friday. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $91.68. The stock has a market cap of $14.04 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41. The firm’s fifty day simple moving average is $71.92 and its 200-day simple moving average is $73.45.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating the consensus estimate of $1.31 by $0.09. The firm had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $3.80 annualized dividend and a dividend yield of 5.7%. Best Buy’s payout ratio is 125.83%.

Best Buy Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.