Sienna Gestion Buys 9,517 Shares of Best Buy Co., Inc. $BBY

Sienna Gestion lifted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 10.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,470 shares of the technology retailer’s stock after acquiring an additional 9,517 shares during the quarter. Sienna Gestion’s holdings in Best Buy were worth $6,219,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BBY. Pacer Advisors Inc. boosted its holdings in shares of Best Buy by 3,890.0% in the 1st quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock worth $75,353,000 after acquiring an additional 998,021 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Best Buy by 36.5% in the 1st quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock worth $181,357,000 after acquiring an additional 671,408 shares in the last quarter. Nuveen LLC acquired a new position in shares of Best Buy in the 1st quarter worth approximately $39,579,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Best Buy by 6.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock worth $512,986,000 after acquiring an additional 408,605 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Best Buy by 27.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,550,145 shares of the technology retailer’s stock worth $104,061,000 after acquiring an additional 335,793 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BBY. Barclays reissued an “equal weight” rating and issued a $74.00 target price on shares of Best Buy in a report on Friday, August 29th. Truist Financial upped their price objective on Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, August 29th. JPMorgan Chase & Co. upped their price objective on Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Evercore ISI upped their price objective on Best Buy from $75.00 to $77.00 and gave the stock an “in-line” rating in a report on Friday, August 29th. Finally, Bank of America reduced their price objective on Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $81.69.

Best Buy Price Performance

Shares of NYSE:BBY opened at $80.86 on Thursday. The firm has a market cap of $16.99 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. The firm’s fifty day moving average is $77.25 and its 200-day moving average is $72.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $95.49.

Best Buy (NYSE:BBY) last issued 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. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. Best Buy’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Sell-side analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently declared 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 104.97%.

Insiders Place Their Bets

In related news, Chairman Richard M. Schulze sold 500,000 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $80.83, for a total value of $40,415,000.00. Following the transaction, the chairman owned 12,486,904 shares in the company, valued at $1,009,316,450.32. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the transaction, the chief accounting officer owned 22,150 shares in the company, valued at approximately $1,640,650.50. The trade was a 14.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,736,826 shares of company stock worth $141,568,327. 0.47% of the stock is owned by company 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.