Arrowstreet Capital Limited Partnership Grows Position in Best Buy Co., Inc. $BBY

Arrowstreet Capital Limited Partnership boosted its position in Best Buy Co., Inc. (NYSE:BBY) by 12.8% during the 2nd quarter, Holdings Channel reports. The fund owned 1,062,194 shares of the technology retailer’s stock after acquiring an additional 120,355 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Best Buy were worth $71,305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Best Buy in the 2nd quarter valued at $26,000. Maseco LLP acquired a new stake in Best Buy in the second quarter valued at $39,000. Bogart Wealth LLC lifted its holdings in Best Buy by 202.0% during the 2nd quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock worth $41,000 after buying an additional 404 shares during the last quarter. True Wealth Design LLC lifted its holdings in Best Buy by 775.3% during the 2nd quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock worth $43,000 after buying an additional 566 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of Best Buy during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the topic of several research analyst reports. Argus reissued a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Jefferies Financial Group dropped their price target on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Wells Fargo & Company boosted their price objective on shares of Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. The Goldman Sachs Group lowered their target price on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Finally, Telsey Advisory Group increased their target price on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, November 26th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $84.74.

Best Buy Stock Performance

Shares of Best Buy stock opened at $74.03 on Friday. The firm’s fifty day simple moving average is $78.11 and its 200-day simple moving average is $73.46. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $91.68. The stock has a market capitalization of $15.55 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. The company had revenue of $9.67 billion for the quarter, compared to the consensus estimate of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. Best Buy’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, equities analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 5.1%. The ex-dividend date is Tuesday, December 16th. Best Buy’s payout ratio is 125.83%.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 74,553 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was 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 directly owned 11,451,911 shares of the company’s stock, valued at approximately $965,510,616.41. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,534,993 shares of company stock worth $126,626,855. 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.