Assetmark Inc. Sells 3,025 Shares of Best Buy Co., Inc. $BBY

Assetmark Inc. trimmed its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 70.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,293 shares of the technology retailer’s stock after selling 3,025 shares during the period. Assetmark Inc.’s holdings in Best Buy were worth $87,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BBY. Oliver Lagore Vanvalin Investment Group purchased a new stake in Best Buy during the second quarter worth about $26,000. Maseco LLP bought a new position in shares of Best Buy during the 2nd quarter valued at approximately $39,000. Bogart Wealth LLC increased its stake in shares of Best Buy by 202.0% during the 2nd quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock worth $41,000 after purchasing an additional 404 shares during the last quarter. Sentry Investment Management LLC purchased a new stake in shares of Best Buy during the 2nd quarter worth approximately $44,000. Finally, Wealth Preservation Advisors LLC bought a new stake in shares of Best Buy in the 1st quarter worth approximately $53,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Trading Up 0.3%

Shares of Best Buy stock opened at $78.93 on Monday. The company’s 50-day moving average price is $77.48 and its 200-day moving average price is $72.54. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $95.49. The company has a market cap of $16.58 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $9.23 billion. During the same quarter in the prior year, the firm posted $1.34 EPS. Best Buy’s revenue was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, equities analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Thursday, September 18th. Best Buy’s dividend payout ratio (DPR) is 104.97%.

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 dated Thursday, October 30th. The stock was sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the completion of the transaction, the chairman directly 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 through this hyperlink. Also, CAO Mathew Watson sold 2,018 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the completion of the transaction, the chief accounting officer owned 20,132 shares in the company, valued at $1,545,332.32. This represents a 9.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,736,826 shares of company stock valued at $141,568,327 in the last three months. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Telsey Advisory Group reissued an “outperform” rating and set a $90.00 price objective on shares of Best Buy in a report on Friday, August 29th. JPMorgan Chase & Co. increased their price target on Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, August 29th. Jefferies Financial Group boosted their price objective on Best Buy from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Argus reaffirmed a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Finally, Guggenheim reiterated a “buy” rating and set a $90.00 target price on shares of Best Buy in a research report on Friday, August 29th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Best Buy has an average rating of “Hold” and an average target price of $83.38.

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.