Flagship Harbor Advisors 13F: Cuts Best Buy (BBY) Stake by $2.4M
Key Points
- The firm now holds 72,012 shares of Best Buy, valued at approximately $6.35 million, after the cut.
- Best Buy shares recently traded at $97.95, about equal to the closing price on the filing date.
- Flagship Harbor Advisors' position in Best Buy represents 1.33% of its total portfolio, ranking it 15th among its holdings.
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Flagship Harbor Advisors cut its stake in Best Buy Co., Inc. (BBY) by 27,700 shares, as disclosed in a filing on October 26, 2026. This reduction brings their total holdings to 72,012 shares, worth about $6.35 million. The cut represents a 27.8% decrease in their position.
BBY
Best Buy Co., Inc.
Where Best Buy Fits in Flagship Harbor Advisors' Portfolio
Flagship Harbor Advisors' investment in Best Buy now makes up 1.33% of its total reported value of $477.5 million, ranking it 15th among the firm's 768 positions.
Other Institutional Activity in Best Buy
AQR Capital Management, LLC reduced its stake in Best Buy by 2,340,534 shares, ending with 3,805,827 shares valued at about $372.8 million. This represents a 38.1% decrease in their position.
Best Buy Co., Inc. Stock Down 1.9%
Best Buy shares recently traded at $97.95, which is about equal to the closing price on the filing date. The stock is currently above its 50-day moving average by 9.5% and above its 200-day moving average by 31.2%. However, it is about 2.6% below its 52-week high of $100.58.
Recent Earnings
Best Buy reported trailing twelve-month revenue of approximately $42.2 billion and an EPS of $6.01. The next earnings report is scheduled for November 24, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
7 target raises vs 3 cuts.
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EPS & revenue
EPS beat estimates by 3.3%. Revenue met estimates.
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Profit surprise
EBITDA beat by 5 percent. Operating income beat by 12 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 downgrade, 7 target raises, 3 target cuts.
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Earnings quality
Positive free cash flow.
Earnings Call Summary
Best Buy delivered 9.4 billion dollars in second quarter sales, up 1.6 percent, driven by strong Switch 2 launch, six straight quarters of computing growth hitting highest laptop volumes in 15 years, and gaming momentum. They launched their marketplace offering six times more products online and are expanding vendor partnerships, including a new one with IKEA for kitchen and appliance displays. Cost pressures from tariffs remained manageable at below the effective tariff rate due to supply chain mitigation.
Guidance Best Buy kept its full year sales guidance of 41.1 billion to 41.9 billion dollars and earnings per share of 6.15 to 6.30 dollars. Management said they expect to hit the higher end of their sales range. They also expect gaming and computing to keep growing in the back half, with new phone launches and Windows 11 upgrades helping momentum.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Best Buy pays an annual dividend of $3.84 per share, which gives it a yield of 3.92% based on recent trading prices.
Insider Buying and Selling at Best Buy Co., Inc.
Several insiders have been active recently. David Kenny and Karen Mcloughlin bought 4,330 and 2,611 shares, respectively, on June 12, 2026. Richard Schulze sold 198,996 shares across two transactions on June 16 and June 25, 2026, valued at about $15.1 million.
Analysts Set New Price Targets
On October 20, 2026, Evercore ISI Group maintained its In-Line rating on Best Buy with a price target of $95. This follows previous ratings from UBS and Barclays, which maintained Neutral and Equal-Weight ratings, respectively, with targets of $90 and $85.
About Best Buy
Best Buy Co., Inc. operates as a retailer of technology products and solutions, serving customers in the U.S., Canada, and internationally. The company focuses on electronics and appliances, providing a range of services to enhance customer experience.
Bottom Line
Investors should watch for Best Buy's upcoming earnings report on November 24, 2026, and any further changes in institutional holdings following this recent cut by Flagship Harbor Advisors.
Related Filing Alerts
Source: Flagship Harbor Advisors's 13F filing on $BBY (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts