First National Bank of Mount Dora Trust Investment Services Lowers Stake in Best Buy Co., Inc. $BBY

First National Bank of Mount Dora Trust Investment Services lowered its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 9.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,030 shares of the technology retailer’s stock after selling 436 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Best Buy were worth $271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BBY. Wealth Enhancement Advisory Services LLC raised its position in shares of Best Buy by 6.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 184,352 shares of the technology retailer’s stock valued at $13,570,000 after buying an additional 11,546 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Best Buy by 25.0% in the first quarter. Exchange Traded Concepts LLC now owns 4,370 shares of the technology retailer’s stock worth $322,000 after purchasing an additional 873 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Best Buy by 3.2% in the first quarter. Janney Montgomery Scott LLC now owns 17,211 shares of the technology retailer’s stock worth $1,267,000 after acquiring an additional 541 shares during the period. Sowell Financial Services LLC purchased a new stake in Best Buy in the first quarter worth about $385,000. Finally, QRG Capital Management Inc. lifted its position in shares of Best Buy by 2.4% during the first quarter. QRG Capital Management Inc. now owns 37,739 shares of the technology retailer’s stock valued at $2,778,000 after buying an additional 881 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $90.00 price target on shares of Best Buy in a research report on Friday, August 29th. Piper Sandler reaffirmed a “neutral” rating and set a $75.00 price objective (down previously from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Argus reaffirmed a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Jefferies Financial Group increased their target price on Best Buy from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company increased 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 equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $81.69.

Insider Transactions at Best Buy

In other news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mathew Watson sold 3,715 shares of the stock in a transaction that occurred on 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 owned 22,150 shares in the company, valued at $1,640,650.50. This represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,833 shares of company stock valued at $14,941,472. Corporate insiders own 0.47% of the company’s stock.

Best Buy Stock Up 0.2%

NYSE BBY opened at $78.59 on Friday. The firm has a market cap of $16.51 billion, a PE ratio of 21.71, a P/E/G ratio of 2.06 and a beta of 1.23. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $99.00. The business’s fifty day simple moving average is $74.56 and its 200-day simple moving average is $70.23. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The firm 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%. Best Buy’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently disclosed 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 of this dividend was Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.8%. Best Buy’s payout ratio is currently 104.97%.

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.