Vise Technologies Inc. Purchases 20,961 Shares of Best Buy Co., Inc. $BBY

Vise Technologies Inc. purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,961 shares of the technology retailer’s stock, valued at approximately $1,850,000.

Other large investors also recently modified their holdings of the company. Unison Advisors LLC increased its holdings in Best Buy by 1.1% in the third quarter. Unison Advisors LLC now owns 31,669 shares of the technology retailer’s stock valued at $2,825,000 after buying an additional 357 shares during the last quarter. MGO One Seven LLC raised its stake in Best Buy by 23.9% in the third quarter. MGO One Seven LLC now owns 5,362 shares of the technology retailer’s stock valued at $473,000 after buying an additional 1,034 shares in the last quarter. State of Wyoming acquired a new stake in Best Buy in the third quarter valued at $154,000. International Assets Investment Management LLC purchased a new stake in Best Buy during the 3rd quarter worth about $21,178,000. Finally, Parcion Private Wealth LLC purchased a new stake in Best Buy during the 3rd quarter worth about $312,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BBY has been the topic of a number of recent analyst reports. Wedbush reaffirmed a “buy” rating on shares of Best Buy in a research note on Monday, August 24th. UBS Group reiterated a “neutral” rating and issued a $90.00 price objective (up from $86.00) on shares of Best Buy in a research note on Friday, August 28th. Bank of America started coverage on shares of Best Buy in a report on Monday, August 3rd. They set an “underperform” rating and a $80.00 price objective on the stock. Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Finally, The Goldman Sachs Group increased their target price on shares of Best Buy from $62.00 to $71.00 and gave the company a “sell” rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.15.

Insider Transactions at Best Buy

In related news, Chairman Richard Schulze sold 300,000 shares of Best Buy stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total value of $27,753,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kathleen Scarlett sold 116,062 shares of the company’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $92.15, for a total value of $10,695,113.30. Following the sale, the executive vice president directly owned 116,173 shares of the company’s stock, valued at approximately $10,705,341.95. This represents a 49.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.50% of the stock is owned by corporate insiders.

Best Buy Stock Performance

Shares of BBY opened at $99.29 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.41 and a current ratio of 1.12. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 2.53 and a beta of 1.20. The company’s 50 day simple moving average is $91.25 and its 200 day simple moving average is $75.93. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $103.54.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.08. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. The business had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. During the same period in the previous year, the company posted $1.28 EPS. The company’s revenue 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. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy’s dividend payout ratio is currently 63.89%.

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.