Jensen Investment Management Inc. Has $2.80 Million Holdings in Best Buy Co., Inc. $BBY

Jensen Investment Management Inc. lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 12.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,675 shares of the technology retailer’s stock after selling 5,700 shares during the quarter. Jensen Investment Management Inc.’s holdings in Best Buy were worth $2,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board boosted its position in Best Buy by 119.2% in the second quarter. Ontario Teachers Pension Plan Board now owns 19,420 shares of the technology retailer’s stock valued at $1,304,000 after buying an additional 10,559 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Best Buy by 7.8% during the 2nd quarter. Cetera Investment Advisers now owns 78,840 shares of the technology retailer’s stock valued at $5,293,000 after acquiring an additional 5,701 shares in the last quarter. WealthTrust Asset Management LLC bought a new stake in Best Buy during the 2nd quarter worth $730,000. Creative Planning increased its holdings in Best Buy by 6.9% in the 2nd quarter. Creative Planning now owns 68,004 shares of the technology retailer’s stock worth $4,565,000 after purchasing an additional 4,375 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Best Buy by 6.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,245 shares of the technology retailer’s stock valued at $3,172,000 after purchasing an additional 2,753 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Trading Down 0.7%

BBY opened at $75.67 on Friday. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $95.49. The company has a market cap of $15.90 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25. The company has a fifty day moving average price of $77.66 and a two-hundred day moving average price of $72.85. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The company’s revenue for the quarter 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. Analysts predict 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 issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Thursday, September 18th. Best Buy’s dividend payout ratio is currently 104.97%.

Insider Activity

In related news, CAO Mathew Watson sold 3,715 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the sale, the chief accounting officer owned 22,150 shares in the company, valued at approximately $1,640,650.50. This represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 500,000 shares of the firm’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 approximately $1,009,316,450.32. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,736,826 shares of company stock worth $141,568,327. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Argus restated a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Wall Street Zen cut shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. JPMorgan Chase & Co. lifted their price target on shares of Best Buy from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday. Truist Financial increased their price objective on Best Buy from $72.00 to $79.00 and gave the company a “hold” rating in a report on Friday, November 7th. Finally, Wedbush lifted their target price on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.88.

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.