iA Global Asset Management Inc. Has $1.48 Million Stock Position in Best Buy Co., Inc. $BBY

iA Global Asset Management Inc. lifted its stake in Best Buy Co., Inc. (NYSE:BBY) by 129.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,006 shares of the technology retailer’s stock after acquiring an additional 12,414 shares during the quarter. iA Global Asset Management Inc.’s holdings in Best Buy were worth $1,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Best Buy in the second quarter valued at about $26,000. Maseco LLP acquired a new stake in shares of Best Buy in the second quarter valued at about $39,000. Bogart Wealth LLC increased its position in shares of Best Buy by 202.0% in the second quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock valued at $41,000 after acquiring an additional 404 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in shares of Best Buy in the second quarter valued at about $44,000. Finally, Wealth Preservation Advisors LLC acquired a new position in Best Buy during the first quarter worth approximately $53,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Trading Down 0.8%

Shares of NYSE:BBY opened at $81.46 on Tuesday. 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 $17.12 billion, a PE ratio of 22.50, a P/E/G ratio of 2.21 and a beta of 1.23. The business has a 50 day moving average of $77.03 and a 200-day moving average of $72.07. 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 issued its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (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 analysts’ expectations of $9.23 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The business’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 disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Thursday, September 18th. Best Buy’s payout ratio is currently 104.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BBY shares. 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. Telsey Advisory Group reissued an “outperform” rating and set a $90.00 price target on shares of Best Buy in a research report on Friday, August 29th. Citigroup reissued a “buy” rating on shares of Best Buy in a research report on Thursday, August 28th. Jefferies Financial Group boosted 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. Finally, Truist Financial boosted their price target on Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and a consensus price target of $81.69.

Insider Activity 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 74,553 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total value of $6,285,563.43. Following the completion of the sale, the chairman owned 11,451,911 shares of the company’s stock, valued at approximately $965,510,616.41. This trade represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,736,826 shares of company stock valued at $141,568,327. 0.47% of the stock is currently owned by corporate 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.