Securian Asset Management Inc. Sells 300 Shares of Best Buy Co., Inc. $BBY

Securian Asset Management Inc. trimmed its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,917 shares of the technology retailer’s stock after selling 300 shares during the period. Securian Asset Management Inc.’s holdings in Best Buy were worth $666,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Community Bank & Trust Waco Texas boosted its stake in Best Buy by 0.5% during 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 stake in Best Buy by 2.4% during 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 stake in Best Buy by 2.5% during 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 stake in Best Buy by 0.8% during 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 stake in Best Buy by 0.7% during 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. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Price Performance

NYSE:BBY opened at $83.07 on Friday. 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 business’s 50-day simple moving average is $75.88 and its two-hundred day simple moving average is $70.92. The stock has a market cap of $17.45 billion, a PE ratio of 22.95, a P/E/G ratio of 2.17 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.

Best Buy (NYSE:BBY) last issued 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 for 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 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 forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were given a $0.95 dividend. The ex-dividend date was Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 4.6%. Best Buy’s dividend payout ratio (DPR) is currently 104.97%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BBY. Argus restated a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Barclays restated an “equal weight” rating and issued a $74.00 price target on shares of Best Buy in a research note on Friday, August 29th. JPMorgan Chase & Co. raised their price target 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 target price on Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a research report on Friday, August 29th. Finally, Wells Fargo & Company lifted their target price on Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Nine investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $81.69.

Insider Activity

In other Best Buy news, Chairman Richard M. Schulze sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the completion of the transaction, the chairman owned 12,486,904 shares in the company, valued at $1,009,316,450.32. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 3,715 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the transaction, the chief accounting officer 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 disclosure for this sale can be found here. In the last quarter, insiders sold 1,027,669 shares of company stock valued at $82,189,066. 0.47% of the stock is currently owned by company insiders.

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.