Generali Asset Management SPA SGR boosted its stake in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) by 49.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,597 shares of the technology retailer’s stock after buying an additional 10,058 shares during the period. Generali Asset Management SPA SGR’s holdings in Best Buy were worth $2,054,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Pinnacle Bancorp Inc. lifted its holdings in Best Buy by 108.5% during the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after buying an additional 178 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new stake in Best Buy during the second quarter worth $26,000. Grove Bank & Trust lifted its holdings in Best Buy by 67.1% during the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock worth $32,000 after buying an additional 173 shares during the period. Maseco LLP purchased a new stake in Best Buy during the second quarter worth $39,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in Best Buy during the first quarter worth $53,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.
Analyst Ratings Changes
BBY has been the subject of a number of analyst reports. Telsey Advisory Group restated an “outperform” rating and set a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Jefferies Financial Group upped their price target on Best Buy from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Evercore ISI upped their price target on Best Buy from $75.00 to $77.00 and gave the stock an “in-line” rating in a research report on Friday, August 29th. Piper Sandler reaffirmed a “neutral” rating and set a $75.00 price target (down from $82.00) on shares of Best Buy in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price target on Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, August 29th. Nine research 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 MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $81.69.
Best Buy Price Performance
NYSE BBY opened at $78.59 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. The stock’s fifty day moving average price is $74.56 and its 200 day moving average price is $70.23. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $99.00. The company has a market cap of $16.51 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.06 and a beta of 1.23.
Best Buy (NYSE:BBY – Get Free Report) last released its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same period in the prior year, the firm earned $1.34 EPS. The firm’s revenue 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 research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.
Best Buy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Thursday, September 18th. Best Buy’s dividend payout ratio is presently 104.97%.
Insider Buying and Selling at Best Buy
In related news, CAO Mathew Watson sold 3,715 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.07, for a total value of $275,170.05. Following the transaction, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at $1,640,650.50. This represents a 14.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 196,100 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,833 shares of company stock worth $14,941,472. 0.47% of the stock is owned by 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.
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