Best Buy Co., Inc. $BBY Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 14.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,425,769 shares of the technology retailer’s stock after selling 239,459 shares during the period. Federated Hermes Inc. owned 0.67% of Best Buy worth $95,712,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in Best Buy during the second quarter valued at about $26,000. Maseco LLP purchased a new position in shares of Best Buy in the 2nd quarter worth about $39,000. Bogart Wealth LLC lifted 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 in the last quarter. Sentry Investment Management LLC purchased a new stake in shares of Best Buy during the 2nd quarter worth about $44,000. Finally, True Wealth Design LLC increased its position in Best Buy by 775.3% during the 2nd quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock worth $43,000 after purchasing an additional 566 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Stock Performance

Best Buy stock opened at $74.18 on Monday. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $91.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. The company has a market capitalization of $15.59 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 1.88 and a beta of 1.37. The firm’s fifty day moving average price is $78.07 and its 200 day moving average price is $73.52.

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, beating the consensus estimate of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The company had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the firm earned $1.26 earnings per share. The company’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. On average, research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm 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 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 5.1%. Best Buy’s payout ratio is currently 125.83%.

Wall Street Analysts Forecast Growth

BBY has been the topic of a number of recent research reports. Telsey Advisory Group lifted their price target on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Evercore ISI lifted their target price on shares of Best Buy from $80.00 to $85.00 and gave the company an “in-line” rating in a report on Wednesday, November 26th. Argus reaffirmed a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research report on Wednesday, November 26th. Finally, Bank of America reduced their price objective on Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a research note on Friday, August 29th. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and an average target price of $84.74.

Insider Activity

In other news, Chairman Richard M. Schulze sold 500,000 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the completion of the transaction, the chairman directly owned 12,486,904 shares in the company, valued at approximately $1,009,316,450.32. This represents a 3.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 1,534,993 shares of company stock valued at $126,626,855. Corporate insiders own 0.59% of the company’s stock.

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.