SVB Wealth LLC Trims Stock Holdings in Best Buy Co., Inc. $BBY

SVB Wealth LLC lowered its position in Best Buy Co., Inc. (NYSE:BBY) by 47.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 40,062 shares of the technology retailer’s stock after selling 35,540 shares during the period. SVB Wealth LLC’s holdings in Best Buy were worth $2,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BBY. Pinnacle Bancorp Inc. raised its stake in shares of Best Buy by 108.5% during the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 178 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new stake in shares of Best Buy during the fourth quarter worth approximately $31,000. Ancora Advisors LLC raised its stake in shares of Best Buy by 18,700.0% during the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 374 shares during the last quarter. Grove Bank & Trust raised its stake in shares of Best Buy by 67.1% during the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 173 shares during the last quarter. Finally, LRI Investments LLC raised its stake in shares of Best Buy by 36.3% during the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer’s stock worth $45,000 after purchasing an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 4.1%

BBY opened at $75.3860 on Friday. The company has a quick ratio of 0.32, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. The firm has a market cap of $15.93 billion, a P/E ratio of 18.43, a PEG ratio of 1.91 and a beta of 1.21. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.71. The business’s fifty day simple moving average is $69.30 and its 200 day simple moving average is $71.90.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.06. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.77 billion. Best Buy had a return on equity of 46.40% and a net margin of 2.13%.The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, equities research analysts anticipate 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, July 10th. Investors of record on Thursday, June 19th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.0%. Best Buy’s dividend payout ratio (DPR) is presently 92.91%.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $72.95, for a total value of $53,195,212.95. Following the sale, the chairman directly owned 196,100 shares of the company’s stock, valued at approximately $14,305,495. This trade represents a 78.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BBY shares. UBS Group cut their price target on Best Buy from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, May 30th. JPMorgan Chase & Co. cut their price objective on Best Buy from $95.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday. Barclays cut their price objective on Best Buy from $89.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, May 30th. Piper Sandler reissued a “neutral” rating and issued a $75.00 target price (down previously from $82.00) on shares of Best Buy in a report on Monday, July 14th. Finally, BNP Paribas raised Best Buy to a “hold” rating in a report on Friday, May 30th. Eight research 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. Based on data from MarketBeat, Best Buy presently has an average rating of “Hold” and a consensus price target of $84.50.

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.