Disciplined Equity Management Inc. Purchases 3,200 Shares of Best Buy Co., Inc. $BBY

Disciplined Equity Management Inc. raised its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 20.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,933 shares of the technology retailer’s stock after purchasing an additional 3,200 shares during the quarter. Best Buy accounts for about 0.7% of Disciplined Equity Management Inc.’s investment portfolio, making the stock its 21st largest position. Disciplined Equity Management Inc.’s holdings in Best Buy were worth $1,271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Bancorp Inc. boosted its holdings in Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after buying an additional 178 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new stake in Best Buy during the second quarter valued at about $26,000. Grove Bank & Trust lifted its position in shares of Best Buy by 67.1% in the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock valued at $32,000 after acquiring an additional 173 shares in the last quarter. Maseco LLP bought a new position in shares of Best Buy in the second quarter worth about $39,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of Best Buy during the first quarter worth about $53,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Best Buy

In other Best Buy news, CAO Mathew Watson sold 2,018 shares of Best Buy stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the transaction, the chief accounting officer directly owned 20,132 shares of the company’s stock, valued at $1,545,332.32. The trade was a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 196,100 shares of the stock in a transaction on Wednesday, September 3rd. The shares were 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. Insiders have sold a total of 201,833 shares of company stock worth $14,941,472 in the last 90 days. 0.59% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup reissued a “buy” rating on shares of Best Buy in a report on Thursday, August 28th. Piper Sandler reissued a “neutral” rating and issued a $75.00 target price (down previously from $82.00) on shares of Best Buy in a report on Monday, July 14th. Argus restated a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. JPMorgan Chase & Co. lifted their price target on shares of Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Finally, Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Best Buy has a consensus rating of “Hold” and a consensus price target of $81.69.

Best Buy Stock Performance

Shares of NYSE:BBY opened at $77.26 on Wednesday. The firm has a fifty day simple moving average of $74.13 and a two-hundred day simple moving average of $70.14. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $99.80. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $16.23 billion, a P/E ratio of 21.34, a PEG ratio of 2.04 and a beta of 1.23.

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

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were issued a $0.95 dividend. The ex-dividend date was Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.9%. Best Buy’s payout ratio is 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.