Vanguard Personalized Indexing Management LLC Decreases Holdings in Best Buy Co., Inc. $BBY

Vanguard Personalized Indexing Management LLC trimmed its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,785 shares of the technology retailer’s stock after selling 3,604 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Best Buy were worth $2,671,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Community Bank & Trust Waco Texas increased its holdings in Best Buy by 0.5% during the first quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer’s stock valued at $2,280,000 after buying an additional 145 shares during the period. HB Wealth Management LLC boosted its stake in Best Buy by 2.4% in the first quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer’s stock valued at $467,000 after acquiring an additional 149 shares in the last quarter. Townsquare Capital LLC boosted its stake in Best Buy by 2.5% in the first quarter. Townsquare Capital LLC now owns 6,162 shares of the technology retailer’s stock valued at $454,000 after acquiring an additional 153 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in Best Buy by 0.8% in the second quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer’s stock valued at $1,278,000 after acquiring an additional 154 shares in the last quarter. Finally, Bailard Inc. boosted its stake in Best Buy by 0.7% in the first quarter. Bailard Inc. now owns 21,965 shares of the technology retailer’s stock valued at $1,617,000 after acquiring an additional 157 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 3,715 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the completion of the transaction, the chief accounting officer owned 22,150 shares in the company, valued at approximately $1,640,650.50. This represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total transaction of $14,511,400.00. The disclosure for this sale can be found here. Insiders sold 201,833 shares of company stock valued at $14,941,472 in the last ninety days. 0.47% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $75.00 target price (down from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Barclays restated an “equal weight” rating and issued a $74.00 target price on shares of Best Buy in a research note on Friday, August 29th. JPMorgan Chase & Co. raised their target price on shares of Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, October 8th. Finally, Truist Financial lifted their price objective on shares of Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Best Buy has a consensus rating of “Hold” and an average target price of $81.69.

Best Buy Trading Up 1.5%

Shares of Best Buy stock opened at $78.33 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. The firm has a fifty day moving average price of $74.34 and a 200 day moving average price of $70.20. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $99.80. The stock has a market cap of $16.46 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23.

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

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Thursday, September 18th. Best Buy’s dividend payout ratio (DPR) is 104.97%.

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.