Metis Global Partners LLC Sells 3,014 Shares of Best Buy Co., Inc. $BBY

Metis Global Partners LLC trimmed its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 19.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,470 shares of the technology retailer’s stock after selling 3,014 shares during the period. Metis Global Partners LLC’s holdings in Best Buy were worth $837,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BBY. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Best Buy during the second quarter worth $26,000. Maseco LLP purchased a new stake in shares of Best Buy in the 2nd quarter worth approximately $39,000. Bogart Wealth LLC lifted its holdings in Best Buy by 202.0% during 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 period. Sentry Investment Management LLC bought a new stake in Best Buy during the second quarter valued at about $44,000. Finally, Wealth Preservation Advisors LLC bought a new stake in shares of Best Buy in the 1st quarter valued at about $53,000. 80.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BBY. Wells Fargo & Company boosted their target price on Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Bank of America cut their price objective on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a research note on Friday, August 29th. Wall Street Zen cut Best Buy from a “buy” rating to a “hold” rating in a research report on Sunday. Wedbush lifted their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Finally, Jefferies Financial Group upped their target price on Best Buy from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.38.

Best Buy Price Performance

NYSE:BBY opened at $77.64 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The stock has a market cap of $16.31 billion, a PE ratio of 21.45, a P/E/G ratio of 2.21 and a beta of 1.25. The stock has a 50 day moving average price of $77.63 and a 200 day moving average price of $72.69. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $95.49.

Best Buy (NYSE:BBY) last announced its quarterly earnings results 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 net margin of 1.87% and a return on equity of 47.32%. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter last year, the firm earned $1.34 EPS. The business’s 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 research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 4.9%. The ex-dividend date was Thursday, September 18th. Best Buy’s payout ratio is 104.97%.

Insider Activity at Best Buy

In related news, Chairman Richard M. Schulze sold 500,000 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the completion of the transaction, the chairman directly owned 12,486,904 shares in the company, valued at $1,009,316,450.32. This trade represents a 3.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mathew Watson sold 3,715 shares of the firm’s stock in a transaction that occurred 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 directly owned 22,150 shares of the company’s stock, valued at approximately $1,640,650.50. The trade was a 14.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,736,826 shares of company stock worth $141,568,327. Company insiders own 0.47% of the company’s stock.

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.