Intrua Financial LLC Sells 592 Shares of Best Buy Co., Inc. $BBY

Intrua Financial LLC lessened its stake in Best Buy Co., Inc. (NYSE:BBY) by 6.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 8,903 shares of the technology retailer’s stock after selling 592 shares during the period. Intrua Financial LLC’s holdings in Best Buy were worth $655,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BBY. Pacer Advisors Inc. lifted its stake in shares of Best Buy by 3,890.0% in the first quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock valued at $75,353,000 after buying an additional 998,021 shares during the period. AQR Capital Management LLC raised its position in Best Buy by 36.5% in the first quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock worth $181,357,000 after purchasing an additional 671,408 shares in the last quarter. Nuveen LLC acquired a new position in Best Buy in the first quarter worth about $39,579,000. Charles Schwab Investment Management Inc. raised its position in Best Buy by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock worth $512,986,000 after purchasing an additional 408,605 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Best Buy in the fourth quarter worth about $29,090,000. Institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BBY shares. Barclays reissued an “equal weight” rating and issued a $74.00 price target on shares of Best Buy in a research report on Friday, August 29th. Loop Capital dropped their price target on shares of Best Buy from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Wedbush increased their price target on shares of Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Bank of America dropped their price objective on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a report on Friday, August 29th. Finally, Evercore ISI raised their price objective on shares of Best Buy from $75.00 to $77.00 and gave the stock an “in-line” rating in a report on Friday, August 29th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $82.59.

Insider Buying and Selling

In other news, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the transaction, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at $1,640,650.50. This trade represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total transaction of $14,511,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,833 shares of company stock worth $14,941,472. Insiders own 0.47% of the company’s stock.

Best Buy Stock Performance

Shares of Best Buy stock opened at $78.44 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. The firm has a market cap of $16.48 billion, a P/E ratio of 21.67, a P/E/G ratio of 2.02 and a beta of 1.19. The firm has a 50 day simple moving average of $71.11 and a 200 day simple moving average of $70.60. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.48.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. Best Buy’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Sell-side analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a yield of 4.8%. Best Buy’s dividend payout ratio (DPR) is presently 104.97%.

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.