Best Buy Co., Inc. $BBY Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its position in Best Buy Co., Inc. (NYSE:BBY) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,600 shares of the technology retailer’s stock after selling 600 shares during the quarter. Hennessy Advisors Inc.’s holdings in Best Buy were worth $2,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. lifted its position in Best Buy by 108.5% during the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after buying an additional 178 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in Best Buy during the second quarter worth approximately $26,000. Grove Bank & Trust lifted its position in Best Buy by 67.1% during the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock worth $32,000 after buying an additional 173 shares in the last quarter. Maseco LLP purchased a new position in Best Buy during the second quarter worth approximately $39,000. Finally, Wealth Preservation Advisors LLC purchased a new position in Best Buy during the first quarter worth approximately $53,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 196,100 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total transaction of $14,511,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $275,170.05. Following the transaction, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at $1,640,650.50. The trade was a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,833 shares of company stock valued at $14,941,472 over the last three months. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BBY. Barclays reissued an “equal weight” rating and set a $74.00 target price on shares of Best Buy in a research note on Friday, August 29th. Telsey Advisory Group reissued an “outperform” rating and set a $90.00 target price on shares of Best Buy in a research note on Friday, August 29th. JPMorgan Chase & Co. raised their target price on Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, August 29th. Wells Fargo & Company raised their target price on Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Finally, Truist Financial raised their target price on Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $81.50.

Best Buy Trading Up 0.4%

Shares of NYSE BBY opened at $76.91 on Friday. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $101.04. 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 fifty day simple moving average of $72.81 and a 200-day simple moving average of $70.08. The stock has a market capitalization of $16.16 billion, a PE ratio of 21.25, a PEG ratio of 2.02 and a beta of 1.23.

Best Buy (NYSE:BBY) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $9.23 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. The company’s revenue 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 business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy’s payout ratio is presently 104.97%.

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.