Level Four Advisory Services LLC Buys 6,586 Shares of Best Buy Co., Inc. $BBY

Level Four Advisory Services LLC grew its stake in Best Buy Co., Inc. (NYSE:BBY) by 18.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,142 shares of the technology retailer’s stock after acquiring an additional 6,586 shares during the quarter. Level Four Advisory Services LLC’s holdings in Best Buy were worth $2,896,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BBY. Cetera Investment Advisers increased its stake in Best Buy by 2.9% in the first quarter. Cetera Investment Advisers now owns 73,139 shares of the technology retailer’s stock valued at $5,384,000 after purchasing an additional 2,081 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of Best Buy by 2.4% in the 1st quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer’s stock valued at $467,000 after buying an additional 149 shares during the period. LPL Financial LLC increased its position in shares of Best Buy by 11.1% in the 1st quarter. LPL Financial LLC now owns 130,074 shares of the technology retailer’s stock valued at $9,575,000 after buying an additional 12,999 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Best Buy by 27.1% in the 1st quarter. Mackenzie Financial Corp now owns 68,988 shares of the technology retailer’s stock valued at $5,078,000 after buying an additional 14,714 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Best Buy during the 1st quarter worth $1,533,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Richard M. Schulze sold 74,553 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the sale, the chairman owned 11,451,911 shares in the company, valued at approximately $965,510,616.41. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 2,018 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total value of $154,901.68. Following the transaction, the chief accounting officer directly owned 20,132 shares of the company’s stock, valued at $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,733,111 shares of company stock worth $141,293,157 over the last three months. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the subject of a number of research analyst reports. BNP Paribas Exane decreased their target price on Best Buy from $69.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday. Daiwa Capital Markets lifted their price objective on Best Buy from $76.00 to $80.00 and gave the company a “neutral” rating in a report on Friday. Argus reiterated a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Truist Financial lifted their price target on shares of Best Buy from $79.00 to $84.00 and gave the company a “hold” rating in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Best Buy has an average rating of “Hold” and an average target price of $84.28.

Best Buy Stock Down 2.0%

Shares of Best Buy stock opened at $79.40 on Friday. The business’s 50 day simple moving average is $77.97 and its 200 day simple moving average is $73.41. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $91.72. The firm has a market cap of $16.68 billion, a PE ratio of 21.93, a P/E/G ratio of 2.21 and a beta of 1.25. 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 (NYSE:BBY) last released its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The firm had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $9.57 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 4.8%. The ex-dividend date is Tuesday, December 16th. Best Buy’s payout ratio is presently 125.83%.

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.