Savant Capital LLC Acquires 2,343 Shares of Best Buy Co., Inc. $BBY

Savant Capital LLC lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,732 shares of the technology retailer’s stock after purchasing an additional 2,343 shares during the quarter. Savant Capital LLC’s holdings in Best Buy were worth $1,929,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Best Buy in the 2nd quarter worth approximately $26,000. Maseco LLP acquired a new stake in Best Buy in the second quarter valued at approximately $39,000. Bogart Wealth LLC lifted its stake in shares of Best Buy by 202.0% in the second quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock valued at $41,000 after buying an additional 404 shares in the last quarter. Sentry Investment Management LLC acquired a new position in Best Buy during the 2nd quarter valued at about $44,000. Finally, Wealth Preservation Advisors LLC purchased a new position in shares of Best Buy during the first quarter valued at approximately $53,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Down 0.6%

BBY opened at $77.64 on Wednesday. The firm’s fifty day moving average is $77.63 and its 200 day moving average is $72.69. The stock has a market cap of $16.31 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week 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.

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

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were given a $0.95 dividend. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.9%. Best Buy’s dividend payout ratio (DPR) is presently 104.97%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BBY shares. Argus reissued a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Barclays restated an “equal weight” rating and issued a $74.00 price objective on shares of Best Buy in a research report on Friday, August 29th. Wedbush increased their price objective on Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, August 29th. Jefferies Financial Group boosted their price target on shares of Best Buy from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Truist Financial upped their price target on shares of Best Buy from $72.00 to $79.00 and gave the company a “hold” rating in a report on Friday, November 7th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.38.

Insider Buying and Selling

In other Best Buy news, CAO Mathew Watson sold 2,018 shares of Best Buy stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the sale, the chief accounting officer owned 20,132 shares of the company’s stock, valued at approximately $1,545,332.32. The trade was a 9.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 74,553 shares of the stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $84.31, for a total value of $6,285,563.43. Following the sale, the chairman directly owned 11,451,911 shares in the company, valued at $965,510,616.41. This represents a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,736,826 shares of company stock valued at $141,568,327 over the last quarter. 0.47% of the stock is owned by company insiders.

About Best Buy

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.