Sage Private Wealth Group LLC Acquires Shares of 3,986 Best Buy Co., Inc. $BBY

by · The Markets Daily

Sage Private Wealth Group LLC acquired a new position in Best Buy Co., Inc. (NYSE:BBY – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,986 shares of the technology retailer’s stock, valued at approximately $268,000.

A number of other hedge funds have also bought and sold shares of BBY. Charles Schwab Investment Management Inc. lifted its position in shares of Best Buy by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock worth $512,986,000 after acquiring an additional 408,605 shares in the last quarter. Invesco Ltd. raised its stake in shares of Best Buy by 6.4% during the 1st quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer’s stock valued at $289,051,000 after purchasing an additional 234,669 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Best Buy by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer’s stock worth $240,173,000 after purchasing an additional 105,710 shares in the last quarter. AQR Capital Management LLC boosted its stake in Best Buy by 36.5% in the 1st quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock worth $181,357,000 after purchasing an additional 671,408 shares during the period. Finally, Federated Hermes Inc. boosted its stake in Best Buy by 3.3% in the 1st quarter. Federated Hermes Inc. now owns 1,665,228 shares of the technology retailer’s stock worth $122,577,000 after purchasing an additional 52,550 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Mathew Watson sold 3,715 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the completion of the sale, the chief accounting officer owned 22,150 shares of the company’s stock, valued at approximately $1,640,650.50. This represents a 14.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total transaction of $14,511,400.00. The disclosure for this sale can be found here. Insiders have sold 201,833 shares of company stock worth $14,941,472 over the last quarter. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BBY. Citigroup reissued a “buy” rating on shares of Best Buy in a report on Thursday, August 28th. JPMorgan Chase & Co. boosted their price target on shares of Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, August 29th. Wall Street Zen raised shares of Best Buy from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Wedbush lifted their price objective on Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. Finally, Wells Fargo & Company boosted their target price on Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Best Buy currently has an average rating of “Hold” and a consensus price target of $81.69.

Read Our Latest Stock Analysis on BBY

Best Buy Stock Performance

NYSE BBY opened at $78.59 on Friday. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $99.00. The company has a fifty day moving average of $74.56 and a 200-day moving average of $70.23. The company has a market capitalization of $16.51 billion, a P/E ratio of 21.71, a P/E/G ratio of 2.06 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04.

Best Buy (NYSE:BBY – Get Free Report) last released its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share 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 business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter last year, the business posted $1.34 earnings per share. The company’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. As a group, equities research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were paid a $0.95 dividend. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 4.8%. Best Buy’s dividend payout ratio is currently 104.97%.

About Best Buy

(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.

Read More