American Century Companies Inc. Raises Stock Holdings in Best Buy Co., Inc. $BBY

American Century Companies Inc. increased its stake in Best Buy Co., Inc. (NYSE:BBY) by 24.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 544,805 shares of the technology retailer’s stock after purchasing an additional 107,026 shares during the period. American Century Companies Inc. owned approximately 0.26% of Best Buy worth $36,573,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group purchased a new position in Best Buy in the 2nd quarter worth approximately $26,000. Maseco LLP bought a new stake in shares of Best Buy during the 2nd quarter worth $39,000. Bogart Wealth LLC grew its position in Best Buy by 202.0% in the second quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock worth $41,000 after acquiring an additional 404 shares in the last quarter. True Wealth Design LLC increased its stake in Best Buy by 775.3% in the second quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock valued at $43,000 after acquiring an additional 566 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new position in Best Buy in the second quarter valued at $44,000. 80.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Best Buy

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on BBY. Morgan Stanley lifted their price target on Best Buy from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup upped their target price on Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Truist Financial lifted their price target on shares of Best Buy from $79.00 to $84.00 and gave the stock a “hold” rating in a research note on Wednesday. Evercore ISI boosted their price objective on shares of Best Buy from $80.00 to $85.00 and gave the stock an “in-line” rating in a report on Wednesday. Finally, Guggenheim reaffirmed a “buy” rating and set a $90.00 target price on shares of Best Buy in a report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $84.28.

Best Buy Stock Down 2.0%

NYSE BBY opened at $79.40 on Friday. The business’s 50-day moving average is $77.97 and its 200 day moving average is $73.41. The stock has a market capitalization of $16.68 billion, a PE ratio of 21.93, a PEG ratio of 2.21 and a beta of 1.25. 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 1 year low of $54.99 and a 1 year high of $91.72.

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

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be issued a $0.95 dividend. 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.