Choreo LLC Increases Stake in Best Buy Co., Inc. $BBY

Choreo LLC lifted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 45.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,299 shares of the technology retailer’s stock after purchasing an additional 4,745 shares during the period. Choreo LLC’s holdings in Best Buy were worth $1,042,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Best Buy in the second quarter worth about $26,000. Maseco LLP bought a new position in Best Buy during the 2nd quarter worth approximately $39,000. Bogart Wealth LLC increased its stake in Best Buy by 202.0% in the 2nd quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock worth $41,000 after purchasing an additional 404 shares during the period. True Wealth Design LLC lifted its position 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 purchasing an additional 566 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in shares of Best Buy during the second quarter valued at approximately $44,000. 80.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BBY has been the subject of a number of recent analyst reports. Argus reiterated a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Wells Fargo & Company upped their price objective on shares of Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Guggenheim reiterated a “buy” rating and set a $90.00 target price on shares of Best Buy in a report on Wednesday, November 26th. Wall Street Zen upgraded Best Buy from a “hold” rating to a “buy” rating in a report on Friday. Finally, Barclays increased their price objective on Best Buy from $74.00 to $81.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.28.

Insider Activity

In related news, Chairman Richard M. Schulze sold 74,553 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total value of $6,285,563.43. Following the sale, the chairman owned 11,451,911 shares of the company’s stock, valued at $965,510,616.41. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mathew Watson sold 2,018 shares of the business’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 transaction, the chief accounting officer owned 20,132 shares of the company’s stock, valued at $1,545,332.32. This trade represents a 9.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,733,111 shares of company stock worth $141,293,157. 0.47% of the stock is owned by company insiders.

Best Buy Trading Down 2.0%

Shares of NYSE BBY opened at $79.40 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. 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. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $91.72. The stock has a fifty day simple moving average of $77.97 and a 200-day simple moving average of $73.41.

Best Buy (NYSE:BBY) last announced its earnings results 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 net margin of 1.87% and a return on equity of 47.32%. The firm had revenue of $9.67 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, equities 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 announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, December 16th. Best Buy’s payout ratio is presently 125.83%.

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.