Sepio Capital LP Buys 16,382 Shares of Best Buy Co., Inc. $BBY

Sepio Capital LP purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the third quarter, Holdings Channel reports. The firm purchased 16,382 shares of the technology retailer’s stock, valued at approximately $1,446,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BBY. Kintegral Advisory LLC increased its position in shares of Best Buy by 0.6% in the third quarter. Kintegral Advisory LLC now owns 23,543 shares of the technology retailer’s stock valued at $2,100,000 after acquiring an additional 133 shares during the period. Tema ETFs LLC raised its stake in shares of Best Buy by 6.5% during the second quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock valued at $179,000 after acquiring an additional 145 shares during the last quarter. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Best Buy by 1.0% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 14,613 shares of the technology retailer’s stock valued at $1,109,000 after acquiring an additional 151 shares during the last quarter. Ashurst Perkins Coie Trust Co boosted its holdings in shares of Best Buy by 75.1% during the third quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock worth $35,000 after purchasing an additional 169 shares during the period. Finally, Center for Financial Planning Inc. boosted its holdings in shares of Best Buy by 4.9% during the first quarter. Center for Financial Planning Inc. now owns 4,319 shares of the technology retailer’s stock worth $277,000 after purchasing an additional 200 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Best Buy Stock Up 6.0%

Shares of NYSE BBY opened at $99.78 on Friday. The firm has a fifty day simple moving average of $89.08 and a two-hundred day simple moving average of $78.44. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $99.92. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $20.93 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 2.35 and a beta of 1.26.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The firm had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Equities analysts expect that Best Buy Co., Inc. will post 6.81 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a $0.96 dividend. 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 (DPR) is 63.89%.

Insider Activity

In other Best Buy news, EVP Kathleen Scarlett sold 116,062 shares of the company’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 transaction of $10,695,113.30. Following the transaction, the executive vice president owned 116,173 shares in the company, valued at approximately $10,705,341.95. This represents a 49.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard M. Schulze sold 300,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was 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. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Loop Capital cut Best Buy from a “buy” rating to a “hold” rating and set a $82.00 target price on the stock. in a research note on Monday, July 13th. Bank of America assumed coverage on Best Buy in a research report on Monday, August 3rd. They set an “underperform” rating and a $80.00 price target for the company. Jefferies Financial Group cut Best Buy from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $89.00 to $85.00 in a report on Wednesday, August 5th. Telsey Advisory Group lifted their price objective on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Finally, Guggenheim lifted their price objective on Best Buy from $90.00 to $95.00 and gave the stock a “buy” 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 assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $85.90.

About Best Buy

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.