Securian Asset Management Inc. Sells 300 Shares of Best Buy Co., Inc. $BBY

Securian Asset Management Inc. decreased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 2.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,917 shares of the technology retailer’s stock after selling 300 shares during the period. Securian Asset Management Inc.’s holdings in Best Buy were worth $666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Community Bank & Trust Waco Texas raised its stake in Best Buy by 0.5% in the first quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer’s stock worth $2,280,000 after buying an additional 145 shares in 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 worth $467,000 after purchasing an additional 149 shares in 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 worth $454,000 after purchasing an additional 153 shares in 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 worth $1,278,000 after purchasing an additional 154 shares in 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 worth $1,617,000 after purchasing an additional 157 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BBY shares. Argus reaffirmed a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Wells Fargo & Company upped their price target on Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price target on shares of Best Buy in a research report on Friday, August 29th. Wall Street Zen downgraded Best Buy from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a research report on Friday. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $81.69.

Insider Activity

In related news, CAO Mathew Watson sold 2,018 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $76.76, for a total value of $154,901.68. Following the transaction, the chief accounting officer directly owned 20,132 shares of the company’s stock, valued at approximately $1,545,332.32. This trade represents a 9.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 325,836 shares of the firm’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $82.35, for a total transaction of $26,832,594.60. Following the completion of the transaction, the chairman directly owned 12,161,068 shares in the company, valued at $1,001,463,949.80. This represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,027,669 shares of company stock worth $82,189,066. Corporate insiders own 0.47% of the company’s stock.

Best Buy Price Performance

NYSE:BBY opened at $83.07 on Friday. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $95.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.17 and a beta of 1.23. The firm’s fifty day moving average is $75.88 and its two-hundred day moving average is $70.92.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same period in the prior year, the company earned $1.34 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

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

Best Buy 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.