Abel Hall LLC Takes Position in Best Buy Co., Inc. $BBY

Abel Hall LLC bought a new stake in Best Buy Co., Inc. (NYSE:BBY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,155 shares of the technology retailer’s stock, valued at approximately $413,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Community Bank & Trust Waco Texas increased its position in shares of Best Buy by 0.5% during the first quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer’s stock valued at $2,280,000 after acquiring an additional 145 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Best Buy by 2.4% during the first quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer’s stock valued at $467,000 after acquiring an additional 149 shares during the last quarter. Townsquare Capital LLC increased its position in shares of Best Buy by 2.5% during the first quarter. Townsquare Capital LLC now owns 6,162 shares of the technology retailer’s stock valued at $454,000 after acquiring an additional 153 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of Best Buy by 0.8% during the second quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer’s stock valued at $1,278,000 after acquiring an additional 154 shares during the last quarter. Finally, Bailard Inc. increased its position in shares of Best Buy by 0.7% during the first quarter. Bailard Inc. now owns 21,965 shares of the technology retailer’s stock valued at $1,617,000 after acquiring an additional 157 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a research report on Saturday, September 27th. Argus reaffirmed a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Evercore ISI increased their price target on Best Buy from $75.00 to $77.00 and gave the company an “in-line” rating in a research report on Friday, August 29th. Telsey Advisory Group reissued an “outperform” rating and issued a $90.00 target price on shares of Best Buy in a research report on Friday, August 29th. Finally, Piper Sandler reissued a “neutral” rating and issued a $75.00 target price (down from $82.00) on shares of Best Buy in a research report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $81.50.

Insiders Place Their Bets

In other news, CAO Mathew Watson sold 3,715 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.07, for a total value of $275,170.05. Following the completion of the transaction, the chief accounting officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 196,100 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. Insiders sold 201,833 shares of company stock valued at $14,941,472 over the last ninety days. Corporate insiders own 0.59% of the company’s stock.

Best Buy Stock Performance

NYSE:BBY opened at $75.18 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. The business has a fifty day simple moving average of $73.14 and a two-hundred day simple moving average of $70.10. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $99.80. The company has a market capitalization of $15.79 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.99 and a beta of 1.23.

Best Buy (NYSE:BBY) last posted its quarterly earnings results 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 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 analyst estimates of $9.23 billion. During the same period last year, the company earned $1.34 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

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

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.