Chicago Partners Investment Group LLC Takes $392,000 Position in Best Buy Co., Inc. $BBY

Chicago Partners Investment Group LLC purchased a new stake in Best Buy Co., Inc. (NYSE:BBY) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,723 shares of the technology retailer’s stock, valued at approximately $392,000.

A number of other institutional investors also recently modified their holdings of BBY. Pacer Advisors Inc. increased its position in shares of Best Buy by 3,890.0% in the first quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock valued at $75,353,000 after acquiring an additional 998,021 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Best Buy by 36.5% in 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. Nuveen LLC acquired a new stake in shares of Best Buy in the first quarter valued at about $39,579,000. Charles Schwab Investment Management Inc. increased its position in shares of Best Buy by 6.2% in 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. Finally, Allianz Asset Management GmbH increased its position in shares of Best Buy by 27.7% in the second quarter. Allianz Asset Management GmbH now owns 1,550,145 shares of the technology retailer’s stock valued at $104,061,000 after acquiring an additional 335,793 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 2,018 shares of the business’s stock in a transaction that occurred 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 directly owned 20,132 shares in the company, valued at approximately $1,545,332.32. The trade was a 9.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Richard M. Schulze sold 325,836 shares of the firm’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $82.35, for a total value of $26,832,594.60. Following the transaction, the chairman owned 12,161,068 shares in the company, valued at approximately $1,001,463,949.80. This trade represents a 2.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,027,669 shares of company stock valued at $82,189,066. 0.47% of the stock is currently owned by company insiders.

Best Buy Trading Up 1.2%

Shares of NYSE:BBY opened at $82.35 on Friday. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $95.49. The stock has a market cap of $17.30 billion, a PE ratio of 22.75, a P/E/G ratio of 2.14 and a beta of 1.23. The business has a 50 day moving average of $75.66 and a 200-day moving average of $70.74. 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 data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The company’s quarterly revenue was up 1.6% compared to the same quarter last year. 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 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Thursday, September 18th. Best Buy’s payout ratio is presently 104.97%.

Analysts Set New Price Targets

A number of analysts recently issued reports on BBY shares. Wells Fargo & Company lifted their target price on Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Truist Financial lifted their target price on Best Buy from $69.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, August 29th. Bank of America lowered their target price on Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a research report on Friday, August 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, October 8th. Finally, Barclays reissued an “equal weight” rating and set a $74.00 price target on shares of Best Buy in a research report on Friday, August 29th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $81.69.

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.