Berger Financial Group Inc Decreases Position in Best Buy Co., Inc. $BBY

Berger Financial Group Inc cut its holdings in Best Buy Co., Inc. (NYSE:BBY) by 16.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,170 shares of the technology retailer’s stock after selling 622 shares during the period. Berger Financial Group Inc’s holdings in Best Buy were worth $213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. 111 Capital bought a new stake in shares of Best Buy in the 2nd quarter valued at about $676,000. Greenwood Capital Associates LLC increased its stake in Best Buy by 38.1% in the 2nd quarter. Greenwood Capital Associates LLC now owns 17,193 shares of the technology retailer’s stock worth $1,154,000 after purchasing an additional 4,747 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Best Buy by 9.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 220,909 shares of the technology retailer’s stock valued at $14,830,000 after purchasing an additional 19,949 shares during the last quarter. Lecap Asset Management Ltd. boosted its stake in shares of Best Buy by 74.4% during the second quarter. Lecap Asset Management Ltd. now owns 15,862 shares of the technology retailer’s stock valued at $1,065,000 after purchasing an additional 6,766 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Best Buy by 1.0% during the second quarter. Robeco Institutional Asset Management B.V. now owns 547,658 shares of the technology retailer’s stock valued at $36,764,000 after purchasing an additional 5,653 shares during the period. 80.96% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the transaction, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at $1,640,650.50. This trade represents a 14.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 196,100 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was 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 quarter, insiders sold 201,833 shares of company stock valued at $14,941,472. 0.59% of the stock is owned by company insiders.

Best Buy Stock Performance

Best Buy stock opened at $75.71 on Tuesday. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $100.08. The stock’s 50 day simple moving average is $72.97 and its two-hundred day simple moving average is $70.07. 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 stock has a market cap of $15.91 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.02 and a beta of 1.23.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same quarter in the prior year, the company earned $1.34 EPS. The business’s 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. As a group, analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 5.0%. Best Buy’s dividend payout ratio is currently 104.97%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays reaffirmed an “equal weight” rating and issued a $74.00 target price on shares of Best Buy in a research note on Friday, August 29th. Guggenheim restated a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research 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. Argus restated a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a research report on Saturday, September 27th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Best Buy has an average rating of “Hold” and a consensus target price of $81.50.

Best Buy Company 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.