Brown Advisory Inc. Trims Stock Holdings in Best Buy Co., Inc. $BBY

Brown Advisory Inc. lessened its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 25.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 206,813 shares of the technology retailer’s stock after selling 71,251 shares during the quarter. Brown Advisory Inc.’s holdings in Best Buy were worth $13,883,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Amundi grew its position in shares of Best Buy by 1.3% during the second quarter. Amundi now owns 2,813,882 shares of the technology retailer’s stock worth $203,440,000 after buying an additional 35,568 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in Best Buy by 3.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 624,135 shares of the technology retailer’s stock valued at $41,898,000 after acquiring an additional 21,084 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Best Buy by 167.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,705 shares of the technology retailer’s stock worth $249,000 after acquiring an additional 2,321 shares in the last quarter. Invesco Ltd. grew its holdings in Best Buy by 15.8% during the 2nd quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock worth $305,351,000 after acquiring an additional 621,863 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in shares of Best Buy in the 2nd quarter worth about $1,435,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BBY. Jefferies Financial Group reduced 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 report on Tuesday, November 25th. JPMorgan Chase & Co. upped their price objective on Best Buy from $97.00 to $99.00 in a research note on Tuesday, November 25th. Citigroup lifted their target price on Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. UBS Group upped their price target on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, Wells Fargo & Company raised their target price on shares of Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Best Buy has an average rating of “Hold” and an average target price of $84.74.

Best Buy Stock Up 0.2%

Shares of Best Buy stock opened at $74.18 on Monday. The business’s fifty day moving average price is $78.07 and its two-hundred day moving average price is $73.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. The company has a market capitalization of $15.59 billion, a P/E ratio of 24.56, a PEG ratio of 1.88 and a beta of 1.37. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $91.68.

Best Buy (NYSE:BBY) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $3.80 annualized dividend and a yield of 5.1%. Best Buy’s dividend payout ratio (DPR) is presently 125.83%.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 74,553 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total value 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 represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 1,534,993 shares of company stock worth $126,626,855. 0.59% of the stock is currently owned by insiders.

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.