Traub Capital Management LLC Buys New Holdings in Best Buy Co., Inc. $BBY

Traub Capital Management LLC acquired a new stake in Best Buy Co., Inc. (NYSE:BBY) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 2,395 shares of the technology retailer’s stock, valued at approximately $161,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Best Buy by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 23,395,055 shares of the technology retailer’s stock valued at $1,570,510,000 after purchasing an additional 419,312 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Best Buy by 6.2% in 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 during the last quarter. Invesco Ltd. raised its holdings in Best Buy by 6.4% in the 1st 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 raised its holdings in Best Buy by 3.3% in the 1st 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 during the period. Finally, AQR Capital Management LLC lifted its position 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 acquiring an additional 671,408 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Mathew Watson sold 3,715 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were 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. This trade represents a 14.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 500,000 shares of Best Buy stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the sale, the chairman directly owned 12,486,904 shares in the company, valued at $1,009,316,450.32. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,736,826 shares of company stock valued at $141,568,327. Insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BBY shares. Bank of America lowered their target price on Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a research note on Friday, August 29th. Wall Street Zen downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Telsey Advisory Group restated an “outperform” rating and issued a $90.00 price target on shares of Best Buy in a research note on Tuesday. Wells Fargo & Company lifted their price objective on shares of Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Finally, Citigroup increased their target price on shares of Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $83.56.

Best Buy Stock Performance

NYSE BBY opened at $74.35 on Thursday. The firm’s 50 day simple moving average is $77.50 and its 200 day simple moving average is $73.00. The firm has a market capitalization of $15.62 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 2.21 and a beta of 1.25. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. 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 announced its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 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%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Thursday, September 18th. Best Buy’s payout ratio is currently 104.97%.

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.