Maple Capital Management Inc. Sells 1,395 Shares of Best Buy Co., Inc. $BBY

Maple Capital Management Inc. decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 30.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,214 shares of the technology retailer’s stock after selling 1,395 shares during the period. Maple Capital Management Inc.’s holdings in Best Buy were worth $216,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFM Investors Pty Ltd lifted its holdings in shares of Best Buy by 6.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer’s stock worth $3,284,000 after acquiring an additional 3,040 shares during the last quarter. Alberta Investment Management Corp lifted its stake in Best Buy by 25.6% in the first quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer’s stock worth $2,422,000 after purchasing an additional 6,700 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its position in Best Buy by 191.9% during the first quarter. Focus Partners Advisor Solutions LLC now owns 10,714 shares of the technology retailer’s stock valued at $789,000 after buying an additional 7,043 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Best Buy during the first quarter valued at about $370,000. Finally, Conning Inc. lifted its stake in shares of Best Buy by 5.4% in the 2nd quarter. Conning Inc. now owns 479,055 shares of the technology retailer’s stock valued at $32,159,000 after acquiring an additional 24,741 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BBY has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted 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. Wedbush upped their price target on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Truist Financial raised their price target on shares of Best Buy from $72.00 to $79.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Wells Fargo & Company upped their price objective on shares of Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Finally, Citigroup raised their target price on Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Best Buy has a consensus rating of “Hold” and a consensus price target of $83.38.

Insider Activity

In other news, Chairman Richard M. Schulze sold 500,000 shares of Best Buy 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mathew Watson sold 3,715 shares of the company’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 value of $275,170.05. Following the completion of the sale, the chief accounting officer owned 22,150 shares in the company, valued at $1,640,650.50. The trade was a 14.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,736,826 shares of company stock valued at $141,568,327. 0.47% of the stock is owned by company insiders.

Best Buy Price Performance

BBY stock opened at $77.64 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $95.49. The firm has a 50-day moving average of $77.63 and a 200 day moving average of $72.69. The company has a market cap of $16.31 billion, a P/E ratio of 21.45, a PEG ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share 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 business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 EPS. 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 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Thursday, September 18th. 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.