Sowell Financial Services LLC Has $417,000 Holdings in Best Buy Co., Inc. $BBY

Sowell Financial Services LLC lifted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 19.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,218 shares of the technology retailer’s stock after buying an additional 991 shares during the quarter. Sowell Financial Services LLC’s holdings in Best Buy were worth $417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Best Buy by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock worth $512,986,000 after purchasing an additional 408,605 shares during the period. Invesco Ltd. boosted its holdings in Best Buy by 6.4% during the first quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer’s stock worth $289,051,000 after buying an additional 234,669 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Best Buy by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer’s stock worth $240,173,000 after buying an additional 105,710 shares during the period. AQR Capital Management LLC increased its stake in shares of Best Buy by 36.5% in the 1st quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock valued at $181,357,000 after acquiring an additional 671,408 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Best Buy by 3.3% in the 1st quarter. Federated Hermes Inc. now owns 1,665,228 shares of the technology retailer’s stock valued at $122,577,000 after acquiring an additional 52,550 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the business’s stock in a transaction 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 owned 22,150 shares of the company’s stock, valued at $1,640,650.50. This trade represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,833 shares of company stock worth $14,941,472. Insiders own 0.47% of the company’s stock.

Best Buy Stock Performance

BBY opened at $74.27 on Friday. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.48. The business has a 50 day moving average of $71.75 and a 200-day moving average of $69.95. 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 stock has a market cap of $15.60 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 1.95 and a beta of 1.19.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 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 firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the previous year, the business 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. On average, equities research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be paid a $0.95 dividend. The ex-dividend date is Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.1%. Best Buy’s dividend payout ratio is 104.97%.

Analyst Upgrades and Downgrades

BBY has been the subject of several recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $75.00 target price (down previously from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Citigroup reissued a “buy” rating on shares of Best Buy in a research note on Thursday, August 28th. Guggenheim restated a “buy” rating and set a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Evercore ISI upped their price target on shares of Best Buy from $75.00 to $77.00 and gave the company an “in-line” rating in a report on Friday, August 29th. Finally, BNP Paribas upgraded shares of Best Buy to a “hold” rating in a report on Friday, May 30th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $81.50.

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.