WealthTrust Asset Management LLC Purchases New Shares in Best Buy Co., Inc. $BBY

by · The Markets Daily

WealthTrust Asset Management LLC bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,880 shares of the technology retailer’s stock, valued at approximately $730,000.

Several other large investors also recently added to or reduced their stakes in the stock. Creative Planning boosted its holdings in shares of Best Buy by 6.9% in the 2nd quarter. Creative Planning now owns 68,004 shares of the technology retailer’s stock worth $4,565,000 after purchasing an additional 4,375 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Best Buy by 6.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,245 shares of the technology retailer’s stock worth $3,172,000 after purchasing an additional 2,753 shares during the last quarter. Donoghue Forlines LLC boosted its stake in shares of Best Buy by 1.2% during the second quarter. Donoghue Forlines LLC now owns 20,276 shares of the technology retailer’s stock valued at $1,361,000 after purchasing an additional 245 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Best Buy by 10.9% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 122,720 shares of the technology retailer’s stock worth $8,237,000 after purchasing an additional 12,072 shares during the last quarter. Finally, Forsta AP Fonden increased its stake in Best Buy by 3.7% in the 2nd quarter. Forsta AP Fonden now owns 51,000 shares of the technology retailer’s stock worth $3,424,000 after buying an additional 1,800 shares during the period. 80.96% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Richard M. Schulze sold 500,000 shares of the company’s 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 of the company’s stock, valued at $1,009,316,450.32. This represents a 3.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mathew Watson sold 3,715 shares of the business’s stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at approximately $1,640,650.50. The trade was a 14.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,736,826 shares of company stock valued at $141,568,327. 0.47% of the stock is owned by company insiders.

Best Buy Stock Performance

NYSE BBY opened at $75.67 on Friday. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $95.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The firm has a market capitalization of $15.90 billion, a P/E ratio of 20.90, a PEG ratio of 2.21 and a beta of 1.25. The stock has a 50-day simple moving average of $77.66 and a two-hundred day simple moving average of $72.81.

Best Buy (NYSE:BBY – Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $1.34 earnings per share. Best Buy’s revenue for the quarter was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on BBY shares. Citigroup increased their price objective on Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Wall Street Zen lowered Best Buy from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Evercore ISI lifted their target price on shares of Best Buy from $80.00 to $85.00 in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Finally, Argus reissued a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $83.88.

Check Out Our Latest Stock Report on BBY

Best Buy Profile

(Free Report)

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.

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