Apollon Wealth Management LLC Sells 1,216 Shares of Best Buy Co., Inc. $BBY

Apollon Wealth Management LLC decreased its position in Best Buy Co., Inc. (NYSE:BBY) by 21.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,367 shares of the technology retailer’s stock after selling 1,216 shares during the quarter. Apollon Wealth Management LLC’s holdings in Best Buy were worth $293,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BBY. Charles Schwab Investment Management Inc. grew its holdings in shares of Best Buy by 6.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock worth $512,986,000 after acquiring an additional 408,605 shares during the period. Invesco Ltd. lifted its position in Best Buy by 6.4% in the 1st quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer’s stock valued at $289,051,000 after acquiring an additional 234,669 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Best Buy by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer’s stock worth $240,173,000 after buying an additional 105,710 shares in the last quarter. AQR Capital Management LLC lifted its position in Best Buy by 36.5% during the first quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock valued at $181,357,000 after purchasing an additional 671,408 shares during the period. Finally, Federated Hermes Inc. grew its holdings in shares of Best Buy by 3.3% in the first quarter. Federated Hermes Inc. now owns 1,665,228 shares of the technology retailer’s stock worth $122,577,000 after acquiring an additional 52,550 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 1.5%

BBY stock opened at $79.71 on Friday. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $96.77. 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 company has a market capitalization of $16.75 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 2.10 and a beta of 1.23. The firm’s fifty day simple moving average is $74.78 and its 200-day simple moving average is $70.23.

Best Buy (NYSE:BBY) last released its quarterly earnings data 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. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same quarter last year, the business posted $1.34 EPS. The company’s revenue was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were given a dividend of $0.95 per share. The ex-dividend date was Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.8%. Best Buy’s dividend payout ratio (DPR) is 104.97%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, August 29th. Wall Street Zen lowered Best Buy from a “buy” rating to a “hold” rating in a research report on Saturday. Telsey Advisory Group reiterated an “outperform” rating and set a $90.00 price objective on shares of Best Buy in a research report on Friday, August 29th. Jefferies Financial Group raised their target price on shares of Best Buy from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Wedbush lifted their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $81.69.

Insider Buying and Selling

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

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.