Maryland State Retirement & Pension System Trims Stock Holdings in Best Buy Co., Inc. $BBY

Maryland State Retirement & Pension System lowered its holdings in Best Buy Co., Inc. (NYSE:BBY) by 6.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,394 shares of the technology retailer’s stock after selling 681 shares during the period. Maryland State Retirement & Pension System’s holdings in Best Buy were worth $631,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BBY. Community Bank & Trust Waco Texas raised its position in shares of Best Buy by 0.5% during the 1st quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer’s stock worth $2,280,000 after purchasing an additional 145 shares during the period. HB Wealth Management LLC increased its position in Best Buy by 2.4% in the 1st 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 period. Townsquare Capital LLC increased its position in shares of Best Buy by 2.5% during the 1st quarter. Townsquare Capital LLC now owns 6,162 shares of the technology retailer’s stock valued at $454,000 after purchasing an additional 153 shares during the period. Capital Investment Advisors LLC increased its position in shares of Best Buy by 0.8% during the 2nd quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer’s stock valued at $1,278,000 after purchasing an additional 154 shares during the period. Finally, Bailard Inc. increased its position in shares of Best Buy by 0.7% during the 1st quarter. Bailard Inc. now owns 21,965 shares of the technology retailer’s stock valued at $1,617,000 after purchasing an additional 157 shares during the period. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling

In other Best Buy 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 transaction of $154,901.68. Following the completion of the sale, the chief accounting officer owned 20,132 shares in the company, valued at $1,545,332.32. This trade represents a 9.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction that occurred 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. In the last 90 days, insiders have sold 201,833 shares of company stock valued at $14,941,472. 0.59% of the stock is owned by insiders.

Best Buy Stock Up 9.8%

BBY opened at $77.32 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. The firm has a market cap of $16.24 billion, a P/E ratio of 21.36, a PEG ratio of 1.85 and a beta of 1.23. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $99.80. The business’s fifty day simple moving average is $73.92 and its 200 day simple moving average is $70.09.

Best Buy (NYSE:BBY) last released its 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. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Thursday, September 18th. Best Buy’s dividend payout ratio (DPR) is presently 104.97%.

Wall Street Analyst Weigh In

Several analysts have recently commented on BBY shares. Truist Financial raised their target price on Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, August 29th. Jefferies Financial Group increased their price target on Best Buy from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Wedbush lifted their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. Finally, Guggenheim restated a “buy” rating and issued a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Nine equities 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.