Cerity Partners LLC Buys 23,159 Shares of Best Buy Co., Inc. $BBY

Cerity Partners LLC lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 183,115 shares of the technology retailer’s stock after purchasing an additional 23,159 shares during the quarter. Cerity Partners LLC’s holdings in Best Buy were worth $12,292,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BBY. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Best Buy in the 2nd quarter valued at $26,000. Maseco LLP acquired a new stake in Best Buy in the second quarter valued at about $39,000. Bogart Wealth LLC grew its position in 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 acquiring an additional 404 shares during the last quarter. True Wealth Design LLC raised its stake in Best Buy by 775.3% during the second quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock worth $43,000 after acquiring an additional 566 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new position in shares of Best Buy in the second quarter worth about $44,000. 80.96% of the stock is currently owned by institutional investors.

Best Buy Trading Up 1.4%

Shares of BBY stock opened at $74.18 on Thursday. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $91.68. The company has a current ratio of 1.05, a quick ratio of 0.26 and a debt-to-equity ratio of 0.44. The stock has a market cap of $15.54 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.86 and a beta of 1.37. The stock has a 50-day moving average of $77.90 and a 200-day moving average of $73.56.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating the consensus estimate of $1.31 by $0.09. The business had revenue of $9.67 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be paid 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 Tuesday, December 16th. Best Buy’s dividend payout ratio is currently 125.83%.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 74,553 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total value of $6,285,563.43. Following the transaction, the chairman owned 11,451,911 shares in the company, valued at $965,510,616.41. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 1,534,993 shares of company stock worth $126,626,855 in the last ninety days. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BBY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Wedbush reaffirmed a “neutral” rating and set a $75.00 target price on shares of Best Buy in a research note on Thursday, November 20th. The Goldman Sachs Group lowered their price target on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Barclays boosted their price objective on Best Buy from $74.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Finally, BNP Paribas Exane dropped their target price on Best Buy from $69.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, November 26th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Best Buy presently has a consensus rating of “Hold” and an average target price of $84.47.

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.