3,078 Shares in Best Buy Co., Inc. $BBY Acquired by Savvy Advisors Inc.

Savvy Advisors Inc. bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,078 shares of the technology retailer’s stock, valued at approximately $207,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in shares of Best Buy by 3,890.0% in the 1st quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock valued at $75,353,000 after purchasing an additional 998,021 shares during the last quarter. AQR Capital Management LLC raised its stake in Best Buy by 36.5% during the first quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock worth $181,357,000 after buying an additional 671,408 shares during the last quarter. Nuveen LLC acquired a new position in Best Buy in the first quarter valued at $39,579,000. Charles Schwab Investment Management Inc. boosted its position in Best Buy by 6.2% during 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 acquiring an additional 408,605 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Best Buy by 27.7% during the second quarter. Allianz Asset Management GmbH now owns 1,550,145 shares of the technology retailer’s stock valued at $104,061,000 after acquiring an additional 335,793 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 74,553 shares of the business’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 transaction of $6,285,563.43. Following the completion of the sale, the chairman directly owned 11,451,911 shares of the company’s stock, valued at approximately $965,510,616.41. The trade was a 0.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $154,901.68. Following the completion of the transaction, the chief accounting officer owned 20,132 shares in the company, valued at $1,545,332.32. This represents a 9.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,736,826 shares of company stock worth $141,568,327 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BBY shares. Evercore ISI boosted their price objective on Best Buy from $75.00 to $77.00 and gave the company an “in-line” rating in a research note on Friday, August 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup reaffirmed a “buy” rating on shares of Best Buy in a research report on Thursday, August 28th. Finally, Jefferies Financial Group lifted their price objective on shares of Best Buy from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $81.69.

Best Buy Trading Down 1.1%

NYSE BBY opened at $82.23 on Monday. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $95.49. The business has a 50 day moving average price of $76.89 and a 200-day moving average price of $71.93. The company has a market cap of $17.28 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 2.21 and a beta of 1.23.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. Best Buy’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, equities analysts expect 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 announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $3.80 annualized dividend and a dividend yield of 4.6%. Best Buy’s payout ratio is presently 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.