Commerzbank Aktiengesellschaft FI Buys 3,878 Shares of Best Buy Co., Inc. $BBY

Commerzbank Aktiengesellschaft FI boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 62.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,125 shares of the technology retailer’s stock after purchasing an additional 3,878 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Best Buy were worth $680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Community Bank & Trust Waco Texas lifted its stake in Best Buy by 0.5% in the 1st quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer’s stock valued at $2,280,000 after purchasing an additional 145 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Best Buy by 2.4% during the first quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer’s stock valued at $467,000 after acquiring an additional 149 shares during the last quarter. Townsquare Capital LLC raised its stake in shares of Best Buy by 2.5% during the first quarter. Townsquare Capital LLC now owns 6,162 shares of the technology retailer’s stock valued at $454,000 after acquiring an additional 153 shares during the last quarter. Capital Investment Advisors LLC raised its stake in shares of Best Buy by 0.8% during the second quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer’s stock valued at $1,278,000 after acquiring an additional 154 shares during the last quarter. Finally, Bailard Inc. raised its stake in shares of Best Buy by 0.7% during the first quarter. Bailard Inc. now owns 21,965 shares of the technology retailer’s stock valued at $1,617,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Activity

In other news, CAO Mathew Watson sold 2,018 shares of the business’s 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 owned 20,132 shares of the company’s stock, valued at $1,545,332.32. The trade was a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 196,100 shares of the business’s 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. In the last ninety days, insiders sold 201,833 shares of company stock worth $14,941,472. Insiders own 0.47% of the company’s stock.

Best Buy Stock Down 6.2%

BBY opened at $70.53 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. The company’s 50-day moving average is $73.70 and its 200 day moving average is $70.12. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $99.80. The firm has a market capitalization of $14.82 billion, a P/E ratio of 19.48, a PEG ratio of 1.98 and a beta of 1.23.

Best Buy (NYSE:BBY) last announced 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. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Research analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders 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 annualized dividend and a yield of 5.4%. Best Buy’s payout ratio is currently 104.97%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BBY. Argus reissued a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Jefferies Financial Group lifted their target price on shares of Best Buy from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on shares of Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Wall Street Zen raised shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, Truist Financial lifted their target price on shares of Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $81.69.

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.