Shariaportfolio Inc. Has $2.02 Million Stock Position in Best Buy Co., Inc. $BBY

Shariaportfolio Inc. increased its stake in Best Buy Co., Inc. (NYSE:BBY) by 239.4% during the second quarter, Holdings Channel.com reports. The fund owned 30,095 shares of the technology retailer’s stock after buying an additional 21,228 shares during the period. Best Buy makes up about 0.9% of Shariaportfolio Inc.’s portfolio, making the stock its 14th biggest position. Shariaportfolio Inc.’s holdings in Best Buy were worth $2,020,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Best Buy by 6.2% in the first 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 during the period. 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 valued at $289,051,000 after buying an additional 234,669 shares during the period. 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 valued at $240,173,000 after buying an additional 105,710 shares during the period. 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 valued at $181,357,000 after buying an additional 671,408 shares during the period. 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 valued at $122,577,000 after buying an additional 52,550 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Argus restated a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Citigroup reiterated a “buy” rating on shares of Best Buy in a report on Thursday, August 28th. Bank of America reduced their price objective on Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a research note on Friday, August 29th. JPMorgan Chase & Co. upped their price target on Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, August 29th. Finally, Wedbush increased their price target on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $81.50.

Best Buy Stock Down 0.6%

Shares of NYSE BBY opened at $75.18 on Wednesday. The company has a market cap of $15.79 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.99 and a beta of 1.23. 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 business has a 50-day simple moving average of $73.14 and a two-hundred day simple moving average of $70.10. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $99.80.

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, beating analysts’ consensus estimates of $1.22 by $0.06. The firm 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 company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Thursday, September 18th. Best Buy’s dividend payout ratio (DPR) is 104.97%.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 2,018 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,833 shares of company stock valued at $14,941,472. Corporate insiders own 0.59% of the company’s stock.

About Best Buy

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.