Best Buy Co., Inc. $BBY Shares Acquired by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. lifted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 22.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,366 shares of the technology retailer’s stock after purchasing an additional 1,735 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Best Buy were worth $629,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BBY. Pinnacle Bancorp Inc. lifted its position in shares of 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 purchasing an additional 178 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Best Buy during the second quarter worth about $26,000. Maseco LLP acquired a new stake in shares of Best Buy during the second quarter worth about $39,000. Bogart Wealth LLC lifted its position in shares of Best Buy by 202.0% during the second quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock worth $41,000 after purchasing an additional 404 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in shares of Best Buy during the second quarter worth approximately $44,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of Best Buy stock opened at $81.42 on Thursday. The firm has a market capitalization of $17.11 billion, a P/E ratio of 22.49, a P/E/G ratio of 2.18 and a beta of 1.23. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $95.49. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $75.45 and its two-hundred day moving average is $70.59.

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

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were given a dividend of $0.95 per share. The ex-dividend date was Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.7%. Best Buy’s dividend payout ratio (DPR) is 104.97%.

Wall Street Analysts Forecast Growth

BBY has been the topic of a number of recent research reports. Telsey Advisory Group restated an “outperform” rating and set a $90.00 target price on shares of Best Buy in a research note on Friday, August 29th. Citigroup restated a “buy” rating on shares of Best Buy in a research note on Thursday, August 28th. Weiss Ratings restated a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, October 8th. Evercore ISI upped their target price on shares of Best Buy from $75.00 to $77.00 and gave the stock an “in-line” rating in a research note on Friday, August 29th. Finally, Wall Street Zen lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $81.69.

Insider Buying and Selling

In other news, Chairman Richard M. Schulze sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the transaction, the chairman directly owned 12,486,904 shares in the company, valued at approximately $1,009,316,450.32. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mathew Watson sold 3,715 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.07, for a total transaction of $275,170.05. Following the transaction, the chief accounting officer owned 22,150 shares in the company, valued at approximately $1,640,650.50. This trade represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,027,669 shares of company stock worth $82,189,066. Insiders own 0.47% of the company’s stock.

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.