Trueblood Wealth Management LLC acquired a new stake in Best Buy Co., Inc. (NYSE:BBY – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 11,231 shares of the technology retailer’s stock, valued at approximately $991,000.
A number of other large investors have also recently bought and sold shares of BBY. Clark Wealth Partners acquired a new position in Best Buy during the third quarter worth $29,000. Ashurst Perkins Coie Trust Co lifted its position in shares of Best Buy by 75.1% in the third quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock worth $35,000 after buying an additional 169 shares during the last quarter. Aberdeen Wealth Management LLC acquired a new stake in shares of Best Buy in the second quarter worth about $38,000. Farmers & Merchants Investments Inc. lifted its position in shares of Best Buy by 313.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 447 shares of the technology retailer’s stock worth $39,000 after buying an additional 339 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in shares of Best Buy by 65.9% in the first quarter. Hillsdale Investment Management Inc. now owns 730 shares of the technology retailer’s stock worth $47,000 after buying an additional 290 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.
Insider Activity at Best Buy
In other Best Buy news, EVP Kathleen Scarlett sold 116,062 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $92.15, for a total value of $10,695,113.30. Following the sale, the executive vice president owned 116,173 shares of the company’s stock, valued at $10,705,341.95. This trade represents a 49.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Richard Schulze sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total value of $27,753,000.00. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is owned by corporate insiders.
Best Buy Stock Down 0.0%
Best Buy stock opened at $99.85 on Monday. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 2.50 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.41. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $100.58. The firm has a fifty day moving average price of $89.34 and a two-hundred day moving average price of $78.69.
Best Buy (NYSE:BBY – Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.08. The company had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, analysts forecast that Best Buy Co., Inc. will post 6.81 earnings per share for the current year.
Best Buy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were paid a dividend of $0.96 per share. The ex-dividend date was Thursday, September 17th. This represents a $3.84 annualized dividend and a yield of 3.8%. Best Buy’s dividend payout ratio is presently 63.89%.
Analysts Set New Price Targets
BBY has been the subject of several recent analyst reports. Jefferies Financial Group downgraded Best Buy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $89.00 to $85.00 in a research note on Wednesday, August 5th. Barclays raised their price objective on Best Buy from $77.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Telsey Advisory Group boosted their target price on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Guggenheim upped their target price on Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Finally, The Goldman Sachs Group lifted their price target on shares of Best Buy from $62.00 to $71.00 and gave the company a “sell” rating in a research report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Best Buy presently has a consensus rating of “Hold” and a consensus price target of $85.90.
Get Our Latest Report on Best Buy
Best Buy Company Profile
Best Buy Co, Inc is a specialty retailer of technology products and services headquartered in Richfield, Minnesota. The company sells consumer electronics, computing and mobile products, entertainment products, appliances, furniture, and related accessories through its retail stores, websites, and other sales channels.
Best Buy also provides technology-related services, including product installation, repair, technical support, delivery, and in-home consultation. Its services are offered through brands and operations such as Geek Squad, while the company also provides membership and protection programs designed to support customers after purchase.
The company serves customers primarily in the United States and Canada.
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