Police & Firemen s Retirement System of New Jersey Sells 1,879 Shares of Best Buy Co., Inc. $BBY

Police & Firemen s Retirement System of New Jersey lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 6.0% during the second quarter, Holdings Channel.com reports. The fund owned 29,392 shares of the technology retailer’s stock after selling 1,879 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Best Buy were worth $1,973,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group bought a new position in Best Buy in the second quarter valued at approximately $26,000. Maseco LLP bought a new position in shares of Best Buy in the second quarter valued at $39,000. Bogart Wealth LLC raised its position in 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 acquiring an additional 404 shares in the last quarter. True Wealth Design LLC raised its position in Best Buy by 775.3% during the second quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock worth $43,000 after acquiring an additional 566 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in Best Buy in the second quarter valued at $44,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BBY shares. Wall Street Zen downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Argus restated a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Wedbush lifted their target price on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. JPMorgan Chase & Co. boosted their target price on Best Buy from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Jefferies Financial Group raised their price target on Best Buy from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $83.56.

Insider Transactions at Best Buy

In other Best Buy news, CAO Mathew Watson sold 2,018 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total transaction of $154,901.68. Following the transaction, the chief accounting officer owned 20,132 shares in the company, valued at $1,545,332.32. This represents a 9.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 74,553 shares of Best Buy stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the completion of the sale, the chairman owned 11,451,911 shares of the company’s stock, valued at approximately $965,510,616.41. The trade was a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,736,826 shares of company stock valued at $141,568,327 in the last three months. Insiders own 0.59% of the company’s stock.

Best Buy Price Performance

Shares of NYSE BBY opened at $74.35 on Thursday. The business’s 50 day moving average is $77.50 and its 200-day moving average is $73.00. The firm has a market cap of $15.62 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $95.49. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share 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 quarter last year, the business earned $1.34 EPS. The company’s quarterly 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. Equities research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were paid a $0.95 dividend. The ex-dividend date was Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 5.1%. Best Buy’s payout ratio is 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.