Vise Technologies Inc. Invests $549,000 in Best Buy Co., Inc. $BBY

Vise Technologies Inc. acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,185 shares of the technology retailer’s stock, valued at approximately $549,000.

A number of other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Best Buy by 6.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock valued at $512,986,000 after buying an additional 408,605 shares in the last quarter. Invesco Ltd. raised its holdings in Best Buy by 6.4% during the first quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer’s stock valued at $289,051,000 after acquiring an additional 234,669 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $240,173,000 after acquiring an additional 105,710 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of 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 acquiring an additional 671,408 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Best Buy by 3.3% during 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 in the last quarter. Institutional investors own 80.96% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction, the chief accounting officer directly owned 20,132 shares of the company’s stock, valued at approximately $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $6,285,563.43. Following the completion of the sale, the chairman owned 11,451,911 shares of the company’s stock, valued at $965,510,616.41. The trade was a 0.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,736,826 shares of company stock valued at $141,568,327 over the last three months. Insiders own 0.47% of the company’s stock.

Best Buy Price Performance

NYSE:BBY opened at $75.67 on Friday. The firm has a market capitalization of $15.90 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.21 and a beta of 1.25. 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 business has a 50 day simple moving average of $77.66 and a 200-day simple moving average of $72.81. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $95.49.

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

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Thursday, September 18th. Best Buy’s payout ratio is currently 104.97%.

Analysts Set New Price Targets

Several research analysts have weighed in on BBY shares. Barclays restated an “equal weight” rating and issued a $74.00 price target on shares of Best Buy in a research note on Friday, August 29th. Wells Fargo & Company raised their price objective on Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Citigroup lifted their target price on Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Telsey Advisory Group reissued an “outperform” rating and set a $90.00 price target on shares of Best Buy in a research note on Friday, August 29th. Finally, Wall Street Zen cut Best Buy from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $83.88.

Best Buy 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.