Best Buy Co., Inc. $BBY Shares Sold by Bank Hapoalim BM

Bank Hapoalim BM decreased its stake in Best Buy Co., Inc. (NYSE:BBY) by 54.6% during the 2nd quarter, Holdings Channel reports. The firm owned 3,840 shares of the technology retailer’s stock after selling 4,615 shares during the quarter. Bank Hapoalim BM’s holdings in Best Buy were worth $258,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Community Bank & Trust Waco Texas boosted its holdings in Best Buy by 0.5% in the 1st quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer’s stock valued at $2,280,000 after purchasing an additional 145 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Best Buy by 2.4% in the 1st quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer’s stock valued at $467,000 after purchasing an additional 149 shares during the last quarter. Townsquare Capital LLC boosted its holdings in Best Buy by 2.5% in the 1st quarter. Townsquare Capital LLC now owns 6,162 shares of the technology retailer’s stock valued at $454,000 after purchasing an additional 153 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in Best Buy by 0.8% in the 2nd quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer’s stock valued at $1,278,000 after purchasing an additional 154 shares during the last quarter. Finally, Bailard Inc. boosted its holdings in Best Buy by 0.7% in the 1st quarter. Bailard Inc. now owns 21,965 shares of the technology retailer’s stock valued at $1,617,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Buying and Selling

In other Best Buy news, CAO Mathew Watson sold 2,018 shares of the 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 of the company’s stock, valued at approximately $1,545,332.32. This represents a 9.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the stock in a transaction that occurred 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. Over the last three months, insiders sold 201,833 shares of company stock worth $14,941,472. Insiders own 0.47% of the company’s stock.

Best Buy Trading Up 0.4%

Shares of NYSE:BBY opened at $76.91 on Friday. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $101.04. The company’s 50 day moving average is $72.81 and its two-hundred day moving average is $70.10. 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 company has a market cap of $16.16 billion, a PE ratio of 21.25, a P/E/G ratio of 2.02 and a beta of 1.23.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same period in the prior year, the firm posted $1.34 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a $0.95 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.9%. Best Buy’s dividend payout ratio is currently 104.97%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a report on Saturday, September 27th. JPMorgan Chase & Co. upped their price objective on shares of Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Telsey Advisory Group restated an “outperform” rating and issued a $90.00 price objective on shares of Best Buy in a report on Friday, August 29th. Finally, Evercore ISI upped their price objective on shares of Best Buy from $75.00 to $77.00 and gave the stock an “in-line” rating in a report on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $81.50.

About Best Buy

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.