Berry Wealth Group LP Sells 813 Shares of Best Buy Co., Inc. $BBY

Berry Wealth Group LP decreased its stake in Best Buy Co., Inc. (NYSE:BBY) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,481 shares of the technology retailer’s stock after selling 813 shares during the period. Berry Wealth Group LP’s holdings in Best Buy were worth $1,174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Oliver Lagore Vanvalin Investment Group bought a new stake in Best Buy in the second quarter valued at approximately $26,000. Maseco LLP acquired a new position in shares of Best Buy in the 2nd quarter worth approximately $39,000. Bogart Wealth LLC boosted its stake in shares of Best Buy by 202.0% in the 2nd quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock valued at $41,000 after purchasing an additional 404 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in shares of Best Buy during the second quarter worth $44,000. Finally, True Wealth Design LLC raised its stake in Best Buy by 775.3% during the second quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock worth $43,000 after buying an additional 566 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 500,000 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the transaction, the chairman directly owned 12,486,904 shares of the company’s stock, valued at $1,009,316,450.32. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 2,018 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the transaction, the chief accounting officer owned 20,132 shares in the company, valued at approximately $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,733,111 shares of company stock worth $141,293,157. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

BBY has been the topic of a number of research analyst reports. Barclays upped their price target on shares of Best Buy from $74.00 to $81.00 and gave the company an “equal weight” rating in a research report on Tuesday. Bank of America cut their target price 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. JPMorgan Chase & Co. lifted their target price on Best Buy from $97.00 to $99.00 in a report on Tuesday. Morgan Stanley increased their price target on Best Buy from $75.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Telsey Advisory Group lifted their price objective on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.28.

Best Buy Trading Down 2.0%

NYSE:BBY opened at $79.40 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $91.72. The company has a market cap of $16.68 billion, a PE ratio of 21.93, a PEG ratio of 2.21 and a beta of 1.25. The firm has a 50-day moving average of $77.97 and a 200-day moving average of $73.41.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The business had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $9.57 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be issued a dividend of $0.95 per share. The ex-dividend date is Tuesday, December 16th. This represents a $3.80 annualized dividend and a yield of 4.8%. Best Buy’s dividend payout ratio is 125.83%.

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.