Entropy Technologies LP Purchases Shares of 28,124 Best Buy Co., Inc. $BBY

Entropy Technologies LP purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 28,124 shares of the technology retailer’s stock, valued at approximately $1,888,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd boosted its holdings in Best Buy by 6.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer’s stock valued at $3,284,000 after purchasing an additional 3,040 shares during the period. Alberta Investment Management Corp increased its stake in shares of Best Buy by 25.6% in the 1st quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer’s stock valued at $2,422,000 after purchasing an additional 6,700 shares during the last quarter. Focus Partners Advisor Solutions LLC grew its position in Best Buy by 191.9% in the first quarter. Focus Partners Advisor Solutions LLC now owns 10,714 shares of the technology retailer’s stock valued at $789,000 after acquiring an additional 7,043 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Best Buy during the 1st quarter valued at approximately $370,000. Finally, Conning Inc. increased its holdings in shares of Best Buy by 5.4% during the second quarter. Conning Inc. now owns 479,055 shares of the technology retailer’s stock worth $32,159,000 after buying an additional 24,741 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Best Buy news, CAO Mathew Watson sold 2,018 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total value of $154,901.68. Following the sale, the chief accounting officer directly owned 20,132 shares in the company, valued at $1,545,332.32. This represents a 9.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 74,553 shares of the stock in a transaction on 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 completion of the sale, the chairman owned 11,451,911 shares in the company, valued at $965,510,616.41. This trade represents a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,736,826 shares of company stock worth $141,568,327 in the last ninety days. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BBY has been the subject of several recent research reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Best Buy in a research note on Tuesday. Argus reissued a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Bank of America dropped their target price on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock 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 note on Sunday, November 9th. Finally, Truist Financial upped their price objective on shares of Best Buy from $72.00 to $79.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $83.56.

Best Buy Trading Up 3.6%

NYSE:BBY opened at $76.41 on Friday. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $95.49. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $77.42 and its 200 day moving average is $73.07. The stock has a market capitalization of $16.05 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Sell-side 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 was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were given a dividend of $0.95 per share. The ex-dividend date was Thursday, September 18th. This represents a $3.80 annualized dividend and a dividend yield of 5.0%. Best Buy’s dividend payout ratio is currently 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.