TD Private Client Wealth LLC Decreases Stake in Best Buy Co., Inc. $BBY

TD Private Client Wealth LLC lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 8.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,627 shares of the technology retailer’s stock after selling 230 shares during the period. TD Private Client Wealth LLC’s holdings in Best Buy were worth $176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. raised its holdings in shares of Best Buy by 108.5% in the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after buying an additional 178 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Best Buy in the second quarter worth $26,000. Grove Bank & Trust raised its holdings 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 buying an additional 173 shares during the last quarter. Maseco LLP purchased a new position in shares of Best Buy during the second quarter worth $39,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Best Buy by 25.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer’s stock worth $53,000 after purchasing an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Activity at Best Buy

In other Best Buy news, CAO Mathew Watson sold 3,715 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were 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 owned 22,150 shares of the company’s stock, valued at $1,640,650.50. This trade represents a 14.36% decrease in their position. The sale 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 transaction of $14,511,400.00. The disclosure for this sale can be found here. Insiders sold a total of 201,833 shares of company stock valued at $14,941,472 in the last three months. 0.59% of the stock is currently owned by corporate insiders.

Best Buy Stock Performance

Shares of BBY stock opened at $76.14 on Monday. 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 Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.48. The stock has a market capitalization of $16.00 billion, a PE ratio of 21.03, a P/E/G ratio of 2.00 and a beta of 1.19. The firm has a 50 day moving average of $71.92 and a two-hundred day moving average of $69.94.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating 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 company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter last year, the company posted $1.34 EPS. The firm’s 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, research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm 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 $0.95 dividend. 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 (DPR) is currently 104.97%.

Wall Street Analyst Weigh In

BBY has been the subject of several recent research reports. Evercore ISI raised their target price on shares of Best Buy from $75.00 to $77.00 and gave the stock an “in-line” rating in a report on Friday, August 29th. Barclays reissued an “equal weight” rating and set a $74.00 target price on shares of Best Buy in a report on Friday, August 29th. Piper Sandler reissued a “neutral” rating and set a $75.00 target price (down previously from $82.00) on shares of Best Buy in a report on Monday, July 14th. Wedbush raised their target price on shares of Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Finally, Citigroup reissued a “buy” rating on shares of Best Buy in a report on Thursday, August 28th. Nine equities 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $81.50.

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.