Best Buy Co., Inc. $BBY Position Cut by LVW Advisors LLC

LVW Advisors LLC trimmed its stake in Best Buy Co., Inc. (NYSE:BBY) by 25.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,496 shares of the technology retailer’s stock after selling 1,207 shares during the quarter. LVW Advisors LLC’s holdings in Best Buy were worth $235,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. lifted its stake in Best Buy by 108.5% in the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock valued at $25,000 after buying an additional 178 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in Best Buy in the second quarter valued at $26,000. Grove Bank & Trust lifted its stake in Best Buy by 67.1% in the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock valued at $32,000 after buying an additional 173 shares during the last quarter. Maseco LLP bought a new stake in Best Buy in the second quarter valued at $39,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Best Buy by 25.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer’s stock valued at $53,000 after buying an additional 147 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BBY. JPMorgan Chase & Co. lifted their price objective on shares of Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. Truist Financial lifted their price objective on shares of Best Buy from $69.00 to $72.00 and gave the company a “hold” rating in a research note on Friday, August 29th. Wedbush lifted their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. Argus restated a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Finally, Citigroup restated a “buy” rating on shares of Best Buy in a research note on Thursday, August 28th. Nine analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Best Buy presently has an average rating of “Hold” and an average price target of $81.50.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total value of $14,511,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction dated 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 in the company, valued at $1,640,650.50. This represents a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,833 shares of company stock worth $14,941,472 in the last three months. 0.59% of the stock is currently owned by company insiders.

Best Buy Price Performance

NYSE:BBY opened at $76.14 on Monday. The business’s 50-day moving average price is $71.92 and its 200 day moving average price is $69.94. The firm has a market cap of $16.00 billion, a P/E ratio of 21.03, a PEG ratio of 2.00 and a beta of 1.19. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $103.48. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $9.44 billion for 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%.Best Buy’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.0%. Best Buy’s dividend payout ratio (DPR) 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.