Westerkirk Capital Inc. Invests $1.07 Million in Best Buy Co., Inc. $BBY

Westerkirk Capital Inc. acquired a new stake in Best Buy Co., Inc. (NYSE:BBY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,900 shares of the technology retailer’s stock, valued at approximately $1,067,000.

A number of other institutional investors also recently modified their holdings of BBY. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Best Buy during the second quarter valued at about $26,000. Maseco LLP acquired a new stake in shares of Best Buy in the 2nd quarter valued at about $39,000. Bogart Wealth LLC increased its position in Best Buy by 202.0% in the 2nd quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock valued at $41,000 after buying an additional 404 shares in the last quarter. True Wealth Design LLC raised its stake in Best Buy by 775.3% during the 2nd quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock worth $43,000 after buying an additional 566 shares during the period. Finally, Sentry Investment Management LLC bought a new stake in shares of Best Buy during the second quarter worth about $44,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Ratings Changes

BBY has been the topic of several recent research reports. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price target on shares of Best Buy in a research report on Wednesday, November 26th. Wedbush restated a “neutral” rating and issued a $75.00 target price on shares of Best Buy in a report on Thursday, November 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Wells Fargo & Company raised their price objective on Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Finally, Citigroup lifted their price objective on shares of Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $84.74.

Best Buy Price Performance

BBY opened at $74.95 on Wednesday. The firm has a 50-day moving average price of $78.11 and a 200-day moving average price of $73.45. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $91.68. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.96 and a beta of 1.37.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share 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 50.02% and a net margin of 1.54%.The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Equities analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) is currently 125.83%.

Insider Activity at Best Buy

In other news, CAO Mathew Watson sold 2,018 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the transaction, the chief accounting officer directly owned 20,132 shares in the company, valued at approximately $1,545,332.32. This represents a 9.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $6,285,563.43. Following the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,537,011 shares of company stock valued at $126,781,757. 0.59% of the stock is currently owned by company insiders.

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.