67,045 Shares in Best Buy Co., Inc. $BBY Bought by FORA Capital LLC

FORA Capital LLC bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 67,045 shares of the technology retailer’s stock, valued at approximately $4,501,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Best Buy in the second quarter worth approximately $26,000. MUFG Securities EMEA plc acquired a new position in shares of Best Buy in the 2nd quarter worth approximately $38,000. Maseco LLP acquired a new position in shares of Best Buy in the 2nd quarter worth approximately $39,000. Bogart Wealth LLC boosted its stake in shares of Best Buy by 202.0% in the 2nd quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock valued at $41,000 after purchasing an additional 404 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in shares of Best Buy during the second quarter worth $44,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Activity

In other news, Chairman Richard M. Schulze sold 74,553 shares of the stock in a transaction dated 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 owned 11,451,911 shares in the company, valued at $965,510,616.41. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 1,534,993 shares of company stock valued at $126,626,855. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BBY. Daiwa Capital Markets boosted their target price on shares of Best Buy from $76.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, November 28th. Evercore ISI cut their target price on Best Buy from $85.00 to $80.00 and set an “in-line” rating on the stock in a research report on Tuesday. Guggenheim reiterated a “buy” rating and issued a $90.00 target price on shares of Best Buy in a report on Wednesday, November 26th. Piper Sandler boosted their price target on Best Buy from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Finally, Jefferies Financial Group lowered their price objective on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $84.47.

Best Buy Trading Down 2.0%

BBY opened at $73.48 on Friday. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $91.68. The firm has a market capitalization of $15.40 billion, a PE ratio of 24.33, a P/E/G ratio of 1.86 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. The company’s 50-day moving average is $77.79 and its 200 day moving average is $73.60.

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

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, December 16th. Best Buy’s payout ratio is currently 125.83%.

Best Buy Company 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.