Cetera Investment Advisers Acquires 5,701 Shares of Best Buy Co., Inc. $BBY

Cetera Investment Advisers grew its stake in Best Buy Co., Inc. (NYSE:BBY) by 7.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,840 shares of the technology retailer’s stock after purchasing an additional 5,701 shares during the quarter. Cetera Investment Advisers’ holdings in Best Buy were worth $5,293,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BBY. IFM Investors Pty Ltd grew its holdings in Best Buy by 6.6% during the second quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer’s stock valued at $3,284,000 after purchasing an additional 3,040 shares during the period. Alberta Investment Management Corp boosted its holdings in shares of Best Buy by 25.6% in the first quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer’s stock valued at $2,422,000 after buying an additional 6,700 shares during the period. Focus Partners Advisor Solutions LLC boosted its holdings in shares of Best Buy by 191.9% in the first quarter. Focus Partners Advisor Solutions LLC now owns 10,714 shares of the technology retailer’s stock valued at $789,000 after buying an additional 7,043 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Best Buy during the first quarter worth $370,000. Finally, Conning Inc. raised its holdings in shares of Best Buy by 5.4% during the second quarter. Conning Inc. now owns 479,055 shares of the technology retailer’s stock worth $32,159,000 after acquiring an additional 24,741 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Up 3.6%

BBY stock opened at $76.41 on Monday. The company has a market cap of $16.05 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 2.21 and a beta of 1.25. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $95.49. The business has a 50 day moving average price of $77.42 and a two-hundred day moving average price of $73.14. 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 released its quarterly earnings data 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 return on equity of 47.32% and a net margin of 1.87%.The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the prior year, the firm posted $1.34 EPS. The firm’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. Analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were paid a dividend of $0.95 per share. The ex-dividend date was Thursday, September 18th. This represents a $3.80 annualized dividend and a dividend yield of 5.0%. Best Buy’s payout ratio is currently 104.97%.

Wall Street Analysts Forecast Growth

BBY has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Best Buy from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Argus restated a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price target on shares of Best Buy in a research report on Friday, August 29th. Jefferies Financial Group lifted their price objective on shares of Best Buy from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $90.00 price objective on shares of Best Buy in a research report on Tuesday, November 18th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $83.56.

Insider Activity

In other Best Buy news, CAO Mathew Watson sold 3,715 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer owned 22,150 shares of the company’s stock, valued at $1,640,650.50. The trade was a 14.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $80.83, for a total value of $40,415,000.00. Following the completion of the sale, the chairman directly owned 12,486,904 shares of the company’s stock, valued at approximately $1,009,316,450.32. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,736,826 shares of company stock worth $141,568,327 over the last 90 days. 0.47% of the stock is owned by company 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.