Best Buy Co., Inc. $BBY Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC reduced its position in Best Buy Co., Inc. (NYSE:BBY) by 36.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,444 shares of the technology retailer’s stock after selling 2,496 shares during the period. Farther Finance Advisors LLC’s holdings in Best Buy were worth $298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinnacle Bancorp Inc. lifted its stake 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 valued at $25,000 after purchasing an additional 178 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in Best Buy during the 2nd quarter worth approximately $26,000. Grove Bank & Trust lifted its position in 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. MassMutual Private Wealth & Trust FSB lifted its position in 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. Finally, Wealth Preservation Advisors LLC acquired a new position in Best Buy during the 1st quarter worth approximately $53,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Trading Down 0.7%

NYSE:BBY opened at $75.58 on Tuesday. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.48. The firm has a market capitalization of $15.88 billion, a P/E ratio of 20.88, a P/E/G ratio of 2.00 and a beta of 1.19. 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 business has a 50 day simple moving average of $72.11 and a 200 day simple moving average of $69.97.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. The business’s revenue for the quarter 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. Equities research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current 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 dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Thursday, September 18th. Best Buy’s payout ratio is 104.97%.

Analyst Ratings Changes

Several equities analysts recently commented on BBY shares. Piper Sandler reissued a “neutral” rating and set a $75.00 price target (down from $82.00) on shares of Best Buy in a research report on Monday, July 14th. Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Bank of America reduced their price target on Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a research report on Friday, August 29th. Citigroup restated a “buy” rating on shares of Best Buy in a report on Thursday, August 28th. Finally, Wells Fargo & Company lifted their price objective on Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $81.50.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 3,715 shares of the business’s stock in a transaction on Friday, August 29th. The stock was 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 owned 22,150 shares in the company, valued at approximately $1,640,650.50. The trade was a 14.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was 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. Insiders have sold a total of 201,833 shares of company stock valued at $14,941,472 in the last quarter. 0.59% of the stock is currently owned by insiders.

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.