Lbp Am Sa Buys 114,129 Shares of Best Buy Co., Inc. $BBY

Lbp Am Sa grew its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 734.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,672 shares of the technology retailer’s stock after buying an additional 114,129 shares during the quarter. Lbp Am Sa’s holdings in Best Buy were worth $8,705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BBY. Pinnacle Bancorp Inc. grew its stake in shares of Best Buy by 108.5% during 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 position in shares of Best Buy during the second quarter valued at about $26,000. Grove Bank & Trust grew its stake in shares of Best Buy by 67.1% in the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 173 shares during the last quarter. Maseco LLP bought a new stake in shares of Best Buy in the second quarter worth about $39,000. Finally, Wealth Preservation Advisors LLC bought a new stake in shares of Best Buy in the first quarter worth about $53,000. 80.96% of the stock is owned by institutional investors.

Insider Activity at Best Buy

In other news, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the transaction, the chief accounting officer directly owned 22,150 shares in the company, valued at approximately $1,640,650.50. This trade represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total transaction of $14,511,400.00. The disclosure for this sale can be found here. Insiders have sold 201,833 shares of company stock valued at $14,941,472 over the last quarter. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the topic of several recent analyst reports. Barclays reissued an “equal weight” rating and issued a $74.00 target price on shares of Best Buy in a research note on Friday, August 29th. Evercore ISI raised their target price on Best Buy from $75.00 to $77.00 and gave the stock an “in-line” rating in a research note on Friday, August 29th. Truist Financial raised their target price on Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, August 29th. Wedbush raised their target price on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. Finally, Bank of America cut their target price on Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a research note on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and an average price target of $81.50.

Best Buy Stock Performance

Shares of BBY opened at $77.33 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $101.42. The company has a 50-day simple moving average of $72.43 and a two-hundred day simple moving average of $70.06. The firm has a market capitalization of $16.25 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping 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 business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same period last year, the business posted $1.34 earnings per share. Best Buy’s quarterly revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Thursday, September 18th. Best Buy’s dividend payout ratio (DPR) is presently 104.97%.

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.