Bogart Wealth LLC Raises Stock Position in Best Buy Co., Inc. $BBY

Bogart Wealth LLC grew its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 202.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 604 shares of the technology retailer’s stock after acquiring an additional 404 shares during the period. Bogart Wealth LLC’s holdings in Best Buy were worth $41,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Unison Advisors LLC increased its holdings in Best Buy by 1.5% during the 2nd quarter. Unison Advisors LLC now owns 29,661 shares of the technology retailer’s stock worth $2,019,000 after purchasing an additional 442 shares during the period. Sentry Investment Management LLC bought a new position in shares of Best Buy during the 2nd quarter worth $44,000. Chicago Partners Investment Group LLC purchased a new position in shares of Best Buy during the second quarter valued at $392,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Best Buy during the second quarter valued at $4,128,000. Finally, Applied Finance Capital Management LLC raised its holdings in shares of Best Buy by 11.5% in the second quarter. Applied Finance Capital Management LLC now owns 5,895 shares of the technology retailer’s stock valued at $396,000 after acquiring an additional 608 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Up 2.1%

NYSE BBY opened at $82.70 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 50 day moving average price of $75.27 and a 200 day moving average price of $70.51. 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 market cap of $17.38 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 2.13 and a beta of 1.23.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. The business 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%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Thursday, September 18th. Best Buy’s dividend payout ratio is currently 104.97%.

Analyst Ratings Changes

Several research analysts have issued reports on BBY shares. Guggenheim reiterated a “buy” rating and set a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Barclays reaffirmed an “equal weight” rating and issued a $74.00 price target on shares of Best Buy in a research report on Friday, August 29th. Wall Street Zen downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday. Argus restated a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Finally, Wells Fargo & Company increased their target price on Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research 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 stock. Based on data from MarketBeat.com, the stock presently 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 3,715 shares of Best Buy stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the completion of the sale, the chief accounting officer directly owned 22,150 shares in the company, valued at $1,640,650.50. This trade represents a 14.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total transaction of $14,511,400.00. The disclosure for this sale can be found here. Insiders sold a total of 201,833 shares of company stock valued at $14,941,472 over the last ninety days. 0.59% of the stock is currently owned by 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.