Best Buy Co., Inc. $BBY Shares Bought by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC raised its position in Best Buy Co., Inc. (NYSE:BBY) by 12.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,345 shares of the technology retailer’s stock after purchasing an additional 924 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Best Buy were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of BBY. Pinnacle Bancorp Inc. grew its holdings in shares of Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 178 shares during the last quarter. Vermillion Wealth Management Inc. bought a new stake in shares of Best Buy during the 4th quarter worth about $31,000. Grove Bank & Trust boosted its stake in shares of Best Buy by 67.1% during the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock worth $32,000 after acquiring an additional 173 shares in the last quarter. Tompkins Financial Corp bought a new stake in shares of Best Buy during the 1st quarter worth about $48,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Best Buy by 25.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer’s stock worth $53,000 after acquiring an additional 147 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays reissued an “equal weight” rating and issued a $74.00 price objective on shares of Best Buy in a research report on Friday, August 29th. Evercore ISI raised their price objective on Best Buy from $75.00 to $77.00 and gave the stock an “in-line” rating in a research report on Friday, August 29th. Wells Fargo & Company raised their price objective on Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Bank of America dropped their price objective on Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a research note on Friday, August 29th. Finally, Loop Capital decreased their price target on Best Buy from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, May 30th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $82.59.

Insider Buying and Selling

In other news, CAO Mathew Watson sold 2,018 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 20,132 shares of the company’s stock, valued at $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the firm’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 value of $14,511,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,833 shares of company stock valued at $14,941,472. Insiders own 0.47% of the company’s stock.

Best Buy Price Performance

Shares of BBY opened at $75.96 on Friday. The stock has a market capitalization of $15.96 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.06 and a beta of 1.19. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $103.48. The company has a 50 day moving average of $71.19 and a 200-day moving average of $70.51. 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 posted its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. The business’s quarterly 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. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy’s dividend payout ratio is 104.97%.

Best Buy 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.