Chicago Partners Investment Group LLC Makes New Investment in Best Buy Co., Inc. $BBY

Chicago Partners Investment Group LLC acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,723 shares of the technology retailer’s stock, valued at approximately $392,000.

Other hedge funds have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd increased its stake in Best Buy by 6.6% during 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 period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Best Buy by 7.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,960 shares of the technology retailer’s stock valued at $14,560,000 after purchasing an additional 13,378 shares in the last quarter. Blackhawk Capital Partners LLC. acquired a new stake in shares of Best Buy in the 1st quarter valued at $1,574,000. Alberta Investment Management Corp boosted its holdings in shares of Best Buy by 25.6% in the 1st quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer’s stock valued at $2,422,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC boosted its holdings in shares of Best Buy by 191.9% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 10,714 shares of the technology retailer’s stock valued at $789,000 after purchasing an additional 7,043 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BBY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Citigroup reaffirmed a “buy” rating on shares of Best Buy in a report on Thursday, August 28th. Evercore ISI raised their target price on Best Buy from $75.00 to $77.00 and gave the company an “in-line” rating in a report on Friday, August 29th. Bank of America reduced their target price on Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a report on Friday, August 29th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $90.00 price target on shares of Best Buy in a research note 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $81.69.

Best Buy Stock Up 1.2%

Shares of BBY opened at $82.35 on Friday. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $95.49. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.14 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The stock has a fifty day moving average of $75.66 and a 200-day moving average of $70.74.

Best Buy (NYSE:BBY) last announced 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. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.Best Buy’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

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

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 500,000 shares of the firm’s stock in a transaction 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 directly owned 12,486,904 shares of the company’s stock, valued at $1,009,316,450.32. This trade represents a 3.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at approximately $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 ninety days, insiders have sold 1,027,669 shares of company stock valued at $82,189,066. 0.47% of the stock is owned by corporate 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.