Los Angeles Capital Management LLC Has $532,000 Stock Holdings in Best Buy Co., Inc. $BBY

Los Angeles Capital Management LLC trimmed its position in Best Buy Co., Inc. (NYSE:BBY) by 71.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,922 shares of the technology retailer’s stock after selling 19,761 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Best Buy were worth $532,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BBY. New York State Common Retirement Fund raised its stake in Best Buy by 2.0% in the first quarter. New York State Common Retirement Fund now owns 127,727 shares of the technology retailer’s stock valued at $9,402,000 after buying an additional 2,500 shares during the period. Larson Financial Group LLC raised its stake in Best Buy by 14.4% in the 1st quarter. Larson Financial Group LLC now owns 6,933 shares of the technology retailer’s stock valued at $510,000 after acquiring an additional 875 shares during the period. Cullen Frost Bankers Inc. raised its stake in Best Buy by 4.0% in the 1st quarter. Cullen Frost Bankers Inc. now owns 11,635 shares of the technology retailer’s stock valued at $856,000 after acquiring an additional 449 shares during the period. Bailard Inc. lifted its holdings in Best Buy by 0.7% during the 1st quarter. Bailard Inc. now owns 21,965 shares of the technology retailer’s stock valued at $1,617,000 after purchasing an additional 157 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in shares of Best Buy in the first quarter valued at $460,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BBY. Argus reissued a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Wedbush upped their price target on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. Evercore ISI raised their price objective on shares of Best Buy from $80.00 to $85.00 in a research report on Tuesday, November 4th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Best Buy in a research report on Friday, August 29th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $74.00 price objective on shares of Best Buy in a report on Friday, August 29th. Eight investment 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $83.88.

Best Buy Trading Down 0.7%

Shares of BBY stock opened at $75.67 on Friday. The stock 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. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The stock has a market cap of $15.90 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last released 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 return on equity of 47.32% and a net margin of 1.87%.The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same period in the prior year, the firm posted $1.34 EPS. Best Buy’s quarterly 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. On average, research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

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

Insider Buying and Selling

In other Best Buy news, CAO Mathew Watson sold 2,018 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the sale, the chief accounting officer directly owned 20,132 shares in the company, valued at $1,545,332.32. This represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 74,553 shares of the firm’s stock in a transaction 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 directly owned 11,451,911 shares in the company, valued at approximately $965,510,616.41. This represents a 0.65% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,736,826 shares of company stock valued at $141,568,327. 0.47% of the stock is currently owned by insiders.

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.