Sagespring Wealth Partners LLC Cuts Stock Holdings in Best Buy Co., Inc. $BBY

Sagespring Wealth Partners LLC decreased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 11,747 shares of the technology retailer’s stock after selling 294 shares during the period. Sagespring Wealth Partners LLC’s holdings in Best Buy were worth $789,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. increased its holdings in shares of Best Buy by 3,890.0% during the first quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock valued at $75,353,000 after acquiring an additional 998,021 shares in the last quarter. AQR Capital Management LLC grew its position in Best Buy by 36.5% during 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 last quarter. Nuveen LLC purchased a new stake in Best Buy during the 1st quarter worth approximately $39,579,000. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $512,986,000 after buying an additional 408,605 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Best Buy by 40.6% during the first quarter. Canada Pension Plan Investment Board now owns 874,538 shares of the technology retailer’s stock valued at $64,375,000 after buying an additional 252,544 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BBY shares. JPMorgan Chase & Co. raised their price objective on Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, August 29th. Bank of America lowered their price target on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a report on Friday, August 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, October 8th. Telsey Advisory Group reiterated an “outperform” rating and set a $90.00 target price on shares of Best Buy in a research report on Friday, August 29th. Finally, Wall Street Zen raised shares of Best Buy from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.69.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 196,100 shares of Best Buy 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 2,018 shares of Best Buy stock in a transaction 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 completion of the sale, the chief accounting officer owned 20,132 shares in the company, valued at $1,545,332.32. This represents a 9.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,833 shares of company stock worth $14,941,472. Corporate insiders own 0.47% of the company’s stock.

Best Buy Stock Performance

NYSE:BBY opened at $78.33 on Thursday. The company’s 50-day moving average price is $74.34 and its 200-day moving average price is $70.20. 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 $16.46 billion, a P/E ratio of 21.64, a P/E/G ratio of 2.03 and a beta of 1.23. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $99.80.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a yield of 4.9%. Best Buy’s payout ratio is 104.97%.

Best Buy 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.