Probity Advisors Inc. Purchases Shares of 3,452 Best Buy Co., Inc. $BBY

Probity Advisors Inc. purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,452 shares of the technology retailer’s stock, valued at approximately $232,000.

Several other hedge funds have also added to or reduced their stakes in the business. Bogart Wealth LLC lifted its holdings in Best Buy by 202.0% during the 2nd quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock valued at $41,000 after purchasing an additional 404 shares during the last quarter. Unison Advisors LLC lifted its holdings in Best Buy by 1.5% during the 2nd quarter. Unison Advisors LLC now owns 29,661 shares of the technology retailer’s stock valued at $2,019,000 after purchasing an additional 442 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in Best Buy during the 2nd quarter valued at $44,000. Chicago Partners Investment Group LLC acquired a new stake in Best Buy during the 2nd quarter valued at $392,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Best Buy during the 2nd quarter valued at $4,128,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In other Best Buy news, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction dated 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 owned 22,150 shares in the company, valued at $1,640,650.50. The trade was a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $14,511,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,833 shares of company stock valued at $14,941,472. 0.59% of the stock is owned by insiders.

Best Buy Stock Up 2.1%

BBY stock opened at $82.70 on Wednesday. The company has a market cap of $17.38 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 2.13 and a beta of 1.23. The business has a 50-day simple moving average of $75.27 and a 200 day simple moving average of $70.51. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $95.49. 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 posted its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.Best Buy’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business 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. This represents a $3.80 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Thursday, September 18th. Best Buy’s payout ratio is 104.97%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BBY. Truist Financial lifted their target price on Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, August 29th. Barclays reissued an “equal weight” rating and set a $74.00 target price on shares of Best Buy in a report on Friday, August 29th. Argus reissued a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Wedbush lifted their target price on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Finally, Citigroup reissued a “buy” rating on shares of Best Buy in a report on Thursday, August 28th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Best Buy presently has an average rating of “Hold” and an average target price of $81.69.

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.