Ensign Peak Advisors Inc Reduces Position in Best Buy Co., Inc. $BBY

by · The Cerbat Gem

Ensign Peak Advisors Inc decreased its stake in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) by 52.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,387 shares of the technology retailer’s stock after selling 74,039 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Best Buy were worth $4,591,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. IFM Investors Pty Ltd lifted its holdings in shares of Best Buy by 6.6% during the second quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer’s stock worth $3,284,000 after purchasing an additional 3,040 shares during the period. Alberta Investment Management Corp raised its position in Best Buy by 25.6% during the 1st quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer’s stock worth $2,422,000 after buying an additional 6,700 shares during the last quarter. Focus Partners Advisor Solutions LLC lifted its stake in Best Buy by 191.9% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 10,714 shares of the technology retailer’s stock valued at $789,000 after acquiring an additional 7,043 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Best Buy in the 1st quarter valued at $370,000. Finally, Conning Inc. increased its stake in shares of Best Buy by 5.4% in the second quarter. Conning Inc. now owns 479,055 shares of the technology retailer’s stock worth $32,159,000 after acquiring an additional 24,741 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 500,000 shares of Best Buy stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $80.83, for a total value of $40,415,000.00. Following the sale, the chairman directly owned 12,486,904 shares in the company, valued at approximately $1,009,316,450.32. The trade was a 3.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value 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. The trade was a 14.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,736,826 shares of company stock worth $141,568,327 over the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

Best Buy Stock Performance

Shares of BBY stock opened at $79.66 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $91.72. The business’s 50 day moving average is $77.56 and its two-hundred day moving average is $73.26. The company has a market capitalization of $16.74 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.21 and a beta of 1.25.

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

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, December 16th. Best Buy’s dividend payout ratio is 104.97%.

Analyst Ratings Changes

A number of research analysts recently issued reports on BBY shares. Wall Street Zen downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Jefferies Financial Group decreased their price objective on Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday. Citigroup raised their target price on Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Wedbush reiterated a “neutral” rating and set a $75.00 price target on shares of Best Buy in a research report on Thursday, November 20th. Finally, Truist Financial upped their price objective on Best Buy from $72.00 to $79.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Best Buy currently has an average rating of “Hold” and an average price target of $83.94.

Check Out Our Latest Stock Analysis on Best Buy

Best Buy Company Profile

(Free Report)

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.

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