Brighton Jones LLC Grows Position in Best Buy Co., Inc. $BBY

Brighton Jones LLC grew its position in Best Buy Co., Inc. (NYSE:BBY) by 135.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,714 shares of the technology retailer’s stock after acquiring an additional 15,366 shares during the quarter. Brighton Jones LLC’s holdings in Best Buy were worth $2,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BBY. Panagora Asset Management Inc. grew its holdings in shares of Best Buy by 1.5% in the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after purchasing an additional 144 shares in the last quarter. GAMMA Investing LLC lifted its position in Best Buy by 2.1% during the third quarter. GAMMA Investing LLC now owns 7,220 shares of the technology retailer’s stock valued at $546,000 after purchasing an additional 150 shares during the last quarter. Capital Investment Advisors LLC grew its stake in shares of Best Buy by 0.8% in the 2nd quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer’s stock worth $1,278,000 after buying an additional 154 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Best Buy by 0.7% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 25,414 shares of the technology retailer’s stock worth $1,871,000 after buying an additional 174 shares in the last quarter. Finally, Transamerica Financial Advisors LLC increased its holdings in shares of Best Buy by 2.0% in the 1st quarter. Transamerica Financial Advisors LLC now owns 9,343 shares of the technology retailer’s stock worth $688,000 after buying an additional 180 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Trading Down 0.9%

BBY opened at $71.21 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. The stock’s 50 day moving average price is $77.41 and its 200-day moving average price is $73.77. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $91.68. The stock has a market cap of $14.92 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 1.82 and a beta of 1.37.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%.Best Buy’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be issued a $0.95 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.3%. Best Buy’s dividend payout ratio is presently 125.83%.

Insider Buying and Selling

In related news, Chairman Richard M. Schulze sold 500,000 shares of Best Buy stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the completion of the sale, the chairman owned 12,486,904 shares in the company, valued at $1,009,316,450.32. This trade represents a 3.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 1,534,993 shares of company stock valued at $126,626,855. Company insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BBY shares. Daiwa Capital Markets increased their price target 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. UBS Group boosted their price objective on Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, October 8th. Wall Street Zen upgraded Best Buy from a “hold” rating to a “buy” rating in a report on Friday, November 28th. Finally, Guggenheim reissued a “buy” rating and set a $90.00 target price on shares of Best Buy in a research report on Wednesday, November 26th. Nine 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 company currently has a consensus rating of “Hold” and an average target price of $84.11.

Best Buy Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.