Shell Asset Management Co. Purchases 10,000 Shares of Best Buy Co., Inc. $BBY

Shell Asset Management Co. raised its position in Best Buy Co., Inc. (NYSE:BBY) by 21.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,679 shares of the technology retailer’s stock after purchasing an additional 10,000 shares during the period. Shell Asset Management Co.’s holdings in Best Buy were worth $3,738,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. raised its position in Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 178 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new stake in Best Buy in the second quarter worth about $26,000. Grove Bank & Trust grew its holdings in shares of Best Buy by 67.1% during the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock valued at $32,000 after buying an additional 173 shares during the last quarter. Maseco LLP bought a new position in Best Buy during the second quarter valued at approximately $39,000. Finally, Wealth Preservation Advisors LLC bought a new position in Best Buy in the first quarter worth approximately $53,000. 80.96% of the stock is owned by institutional investors.

Best Buy Price Performance

Best Buy stock opened at $75.18 on Wednesday. The firm has a 50-day moving average price of $73.14 and a 200-day moving average price of $70.10. The firm has a market capitalization of $15.79 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23. 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 12-month low of $54.99 and a 12-month high of $99.80.

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. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business earned $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Thursday, September 18th. Best Buy’s dividend payout ratio (DPR) is 104.97%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a report on Saturday, September 27th. Guggenheim reiterated a “buy” rating and issued a $90.00 price target on shares of Best Buy in a report on Friday, August 29th. Argus reissued a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Finally, Bank of America dropped their price objective on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a research note on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Best Buy has a consensus rating of “Hold” and an average target price of $81.50.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 2,018 shares of Best Buy stock in a transaction dated Thursday, September 4th. The shares were 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 owned 20,132 shares in the company, valued at $1,545,332.32. This trade represents a 9.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total transaction of $14,511,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 201,833 shares of company stock valued at $14,941,472 in the last quarter. 0.59% of the stock is currently 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.