Howard Capital Management Inc. Purchases 1,171 Shares of Best Buy Co., Inc. $BBY

Howard Capital Management Inc. increased its position in Best Buy Co., Inc. (NYSE:BBY) by 27.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,435 shares of the technology retailer’s stock after buying an additional 1,171 shares during the quarter. Howard Capital Management Inc.’s holdings in Best Buy were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Best Buy by 6.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock worth $512,986,000 after acquiring an additional 408,605 shares during the last quarter. Invesco Ltd. lifted its stake in Best Buy by 6.4% in the first quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer’s stock worth $289,051,000 after purchasing an additional 234,669 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Best Buy by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer’s stock worth $240,173,000 after purchasing an additional 105,710 shares during the last quarter. AQR Capital Management LLC lifted its stake in Best Buy by 36.5% in the first quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock worth $181,357,000 after purchasing an additional 671,408 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Best Buy by 3.3% in the first quarter. Federated Hermes Inc. now owns 1,665,228 shares of the technology retailer’s stock worth $122,577,000 after purchasing an additional 52,550 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Price Performance

Shares of Best Buy stock opened at $83.87 on Thursday. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. The company has a market cap of $17.62 billion, a PE ratio of 23.17, a P/E/G ratio of 2.21 and a beta of 1.23. The business has a 50 day moving average of $76.53 and a 200 day moving average of $71.55. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $95.49.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were issued a $0.95 dividend. The ex-dividend date was Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 4.5%. Best Buy’s dividend payout ratio is 104.97%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BBY shares. Guggenheim reissued a “buy” rating and issued a $90.00 target price on shares of Best Buy in a research note on Friday, August 29th. JPMorgan Chase & Co. boosted their price objective on Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, August 29th. Barclays reiterated an “equal weight” rating and issued a $74.00 price objective on shares of Best Buy in a research report on Friday, August 29th. Evercore ISI upped their price target on shares of Best Buy from $75.00 to $77.00 and gave the company an “in-line” rating in a report on Friday, August 29th. Finally, Citigroup reiterated a “buy” rating on shares of Best Buy in a report on Thursday, August 28th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $81.69.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 500,000 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $80.83, for a total value of $40,415,000.00. Following the completion of the transaction, the chairman directly owned 12,486,904 shares of the company’s stock, valued at $1,009,316,450.32. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 3,715 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the transaction, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at approximately $1,640,650.50. The trade was a 14.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,599,439 shares of company stock valued at $129,995,911. 0.47% of the stock is owned by insiders.

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.