Stablepoint Partners LLC Has $812,000 Position in Best Buy Co., Inc. $BBY

Stablepoint Partners LLC boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 12.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 12,094 shares of the technology retailer’s stock after purchasing an additional 1,337 shares during the period. Stablepoint Partners LLC’s holdings in Best Buy were worth $812,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in shares of Best Buy by 2.9% in the 1st quarter. Cetera Investment Advisers now owns 73,139 shares of the technology retailer’s stock valued at $5,384,000 after purchasing an additional 2,081 shares during the last quarter. LPL Financial LLC increased its position in Best Buy by 11.1% during the first quarter. LPL Financial LLC now owns 130,074 shares of the technology retailer’s stock worth $9,575,000 after buying an additional 12,999 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Best Buy by 27.1% during the first quarter. Mackenzie Financial Corp now owns 68,988 shares of the technology retailer’s stock valued at $5,078,000 after buying an additional 14,714 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in Best Buy by 106.6% during the first quarter. Arkadios Wealth Advisors now owns 6,899 shares of the technology retailer’s stock valued at $508,000 after buying an additional 3,560 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Best Buy by 0.5% in the first quarter. US Bancorp DE now owns 248,071 shares of the technology retailer’s stock worth $18,260,000 after buying an additional 1,200 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Price Performance

Shares of NYSE:BBY opened at $79.40 on Friday. The firm has a market capitalization of $16.68 billion, a PE ratio of 21.93, a PEG 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 $91.72. The business’s 50 day moving average is $77.97 and its 200-day moving average is $73.41.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The business had revenue of $9.67 billion during the quarter, compared to analyst estimates of $9.57 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.Best Buy’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Sell-side analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) is presently 125.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BBY shares. JPMorgan Chase & Co. increased their price objective on Best Buy from $97.00 to $99.00 in a report on Tuesday, November 25th. Bank of America lowered their price target on Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a report on Friday, August 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, October 8th. Argus restated a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Finally, Morgan Stanley raised their target price on shares of Best Buy from $75.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.28.

Insider Activity

In other Best Buy news, Chairman Richard M. Schulze sold 74,553 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the completion of the transaction, the chairman owned 11,451,911 shares in the company, valued at $965,510,616.41. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 2,018 shares of the company’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 sale, the chief accounting officer owned 20,132 shares in the company, valued at approximately $1,545,332.32. This represents a 9.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,733,111 shares of company stock worth $141,293,157. 0.47% of the stock is owned by company 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.