Kestra Investment Management LLC Sells 7,093 Shares of Best Buy Co., Inc. $BBY

Kestra Investment Management LLC lowered its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 24.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,859 shares of the technology retailer’s stock after selling 7,093 shares during the quarter. Kestra Investment Management LLC’s holdings in Best Buy were worth $1,467,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in Best Buy during the 2nd quarter worth approximately $26,000. CYBER HORNET ETFs LLC bought a new stake in shares of Best Buy during the second quarter worth $33,000. MUFG Securities EMEA plc acquired a new stake in shares of Best Buy during the second quarter worth $38,000. Maseco LLP bought a new stake in Best Buy in the 2nd quarter valued at $39,000. Finally, Bogart Wealth LLC lifted its position in 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 acquiring an additional 404 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 500,000 shares of the business’s 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 transaction, the chairman directly owned 12,486,904 shares in the company, valued at $1,009,316,450.32. The trade was a 3.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, 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.

Best Buy Stock Performance

Shares of NYSE BBY opened at $73.48 on Monday. 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 has a 50 day moving average price of $77.79 and a 200 day moving average price of $73.62. The stock has a market capitalization of $15.40 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 1.86 and a beta of 1.37. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $91.68.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The company had revenue of $9.67 billion for 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 business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. 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 declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be paid a $0.95 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a yield of 5.2%. Best Buy’s dividend payout ratio (DPR) is currently 125.83%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BBY shares. The Goldman Sachs Group lowered their target price on Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. UBS Group increased their price objective on Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Wedbush reissued a “neutral” rating and issued a $75.00 target price on shares of Best Buy in a research report on Thursday, November 20th. Barclays boosted their target price on Best Buy from $74.00 to $81.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Finally, Truist Financial upped their price target on Best Buy from $79.00 to $84.00 and gave the stock a “hold” rating in a research report on Wednesday, November 26th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.47.

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.