Praxis Investment Management Inc. Buys 2,420 Shares of Best Buy Co., Inc. $BBY

Praxis Investment Management Inc. raised its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 45.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,730 shares of the technology retailer’s stock after acquiring an additional 2,420 shares during the period. Praxis Investment Management Inc.’s holdings in Best Buy were worth $519,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in Best Buy by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock valued at $512,986,000 after acquiring an additional 408,605 shares during the last quarter. Invesco Ltd. grew its position in Best Buy by 6.4% during the first 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 last quarter. Dimensional Fund Advisors LP grew its position in Best Buy by 3.3% during the first 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 last quarter. AQR Capital Management LLC grew 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 valued at $181,357,000 after acquiring an additional 671,408 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Best Buy by 3.3% during the first quarter. Federated Hermes Inc. now owns 1,665,228 shares of the technology retailer’s stock valued at $122,577,000 after acquiring an additional 52,550 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Stock Performance

Shares of BBY stock opened at $79.71 on Friday. The stock has a fifty day moving average of $74.78 and a 200 day moving average of $70.23. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $96.77. The firm has a market capitalization of $16.75 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 2.10 and a beta of 1.23. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same quarter last year, the firm posted $1.34 earnings per share. 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, research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were paid a $0.95 dividend. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a yield of 4.8%. Best Buy’s dividend payout ratio (DPR) is presently 104.97%.

Wall Street Analysts Forecast Growth

BBY has been the topic of a number of recent research reports. Piper Sandler reiterated 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. Jefferies Financial Group raised their target price on shares of Best Buy from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Evercore ISI raised their target price on shares of Best Buy from $75.00 to $77.00 and gave the stock an “in-line” rating in a report on Friday, August 29th. JPMorgan Chase & Co. raised their target price on shares of Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $81.69.

Insiders Place Their Bets

In related news, CAO Mathew Watson sold 2,018 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was 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 of the company’s stock, valued at $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was 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. Insiders sold 201,833 shares of company stock valued at $14,941,472 in the last ninety days. 0.47% of the stock is currently owned by insiders.

Best Buy Company 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.