Best Buy Co., Inc. $BBY Shares Sold by Aviva PLC

Aviva PLC trimmed its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 52.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 167,187 shares of the technology retailer’s stock after selling 182,764 shares during the period. Aviva PLC’s holdings in Best Buy were worth $11,223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Best Buy during the second quarter valued at about $26,000. Maseco LLP acquired a new position in Best Buy during the 2nd quarter valued at approximately $39,000. Bogart Wealth LLC raised its holdings 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 worth $41,000 after buying an additional 404 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Best Buy by 775.3% during the second quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock worth $43,000 after buying an additional 566 shares during the period. Finally, Sentry Investment Management LLC acquired a new position in shares of Best Buy in the 2nd quarter valued at $44,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BBY. Bank of America lowered their price target on Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a research report on Friday, August 29th. Barclays reiterated an “equal weight” rating and issued a $74.00 price target on shares of Best Buy in a report on Friday, August 29th. Wells Fargo & Company lifted their price objective on shares of Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Guggenheim reiterated a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research note on Friday, August 29th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Best Buy presently has an average rating of “Hold” and a consensus price target of $83.38.

Best Buy Stock Down 0.6%

BBY stock opened at $77.64 on Wednesday. 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. The firm has a 50-day simple moving average of $77.63 and a 200-day simple moving average of $72.69. The stock has a market capitalization of $16.31 billion, a P/E ratio of 21.45, a P/E/G ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same period last year, the company posted $1.34 EPS. Best Buy’s quarterly revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Equities analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Stockholders 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 dividend yield of 4.9%. Best Buy’s payout ratio is currently 104.97%.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 74,553 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total transaction 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 $965,510,616.41. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mathew Watson sold 2,018 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the transaction, the chief accounting officer directly owned 20,132 shares in the company, valued at approximately $1,545,332.32. This represents a 9.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,736,826 shares of company stock valued at $141,568,327 over the last quarter. 0.47% of the stock is owned by company 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.