Vise Technologies Inc. Acquires New Holdings in Best Buy Co., Inc. $BBY

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

Several other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. grew its stake in Best Buy by 3,890.0% during 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 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 purchasing an additional 671,408 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Best Buy during the first quarter worth about $39,579,000. Charles Schwab Investment Management Inc. boosted its position 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 last quarter. Finally, Allianz Asset Management GmbH boosted its position in Best Buy by 27.7% in 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 buying an additional 335,793 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.07, for a total value of $275,170.05. Following the sale, the chief accounting officer directly owned 22,150 shares in the company, valued at approximately $1,640,650.50. The trade was a 14.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 500,000 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $80.83, for a total value of $40,415,000.00. Following the transaction, the chairman directly owned 12,486,904 shares of the company’s stock, valued at $1,009,316,450.32. The trade was a 3.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,736,826 shares of company stock valued at $141,568,327 over the last 90 days. 0.47% of the stock is currently owned by company insiders.

Best Buy Price Performance

NYSE:BBY opened at $75.67 on Friday. 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 stock’s 50-day moving average price is $77.66 and its 200-day moving average price is $72.81. The stock has a market capitalization of $15.90 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25.

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 for the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the prior year, the business posted $1.34 earnings per share. Best Buy’s revenue for the quarter was up 1.6% on a year-over-year basis. 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 EPS for the current fiscal year.

Best Buy Announces Dividend

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

Analyst Upgrades and Downgrades

BBY has been the subject of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Truist Financial increased their price objective on shares of Best Buy from $72.00 to $79.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Barclays reaffirmed an “equal weight” rating and issued a $74.00 price target on shares of Best Buy in a report on Friday, August 29th. Finally, Citigroup raised 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. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $83.88.

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.