United Advisor Group LLC Purchases New Position in Best Buy Co., Inc. $BBY

United Advisor Group LLC acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,306 shares of the technology retailer’s stock, valued at approximately $468,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kintegral Advisory LLC increased its position in shares of Best Buy by 0.6% during the third quarter. Kintegral Advisory LLC now owns 23,543 shares of the technology retailer’s stock worth $2,100,000 after purchasing an additional 133 shares in the last quarter. Tema ETFs LLC lifted its position in Best Buy by 6.5% during the 2nd quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock worth $179,000 after acquiring an additional 145 shares during the period. Probity Advisors Inc. grew its stake in shares of Best Buy by 3.3% in the 3rd quarter. Probity Advisors Inc. now owns 4,657 shares of the technology retailer’s stock valued at $411,000 after purchasing an additional 149 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its holdings in shares of Best Buy by 1.0% in 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 purchasing an additional 151 shares during the period. Finally, Ashurst Perkins Coie Trust Co raised its stake 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 last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Price Performance

Shares of NYSE:BBY opened at $99.58 on Monday. 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 business’s fifty day moving average price is $91.57 and its two-hundred day moving average price is $76.10. The stock has a market cap of $20.89 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $103.54.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.08. The company had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $9.59 billion. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, analysts forecast that Best Buy Co., Inc. will post 6.81 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders 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 3.9%. Best Buy’s dividend payout ratio is currently 63.89%.

Insider Activity

In other news, Chairman Richard Schulze sold 300,000 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total value of $27,753,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kathleen Scarlett sold 116,062 shares of Best Buy stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 116,173 shares in the company, valued at $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. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

BBY has been the subject of several recent analyst reports. Weiss Ratings cut shares of Best Buy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, October 27th. Evercore set a $100.00 price target on Best Buy in a report on Tuesday, October 27th. Bank of America began coverage on Best Buy in a report on Monday, August 3rd. They issued an “underperform” rating and a $80.00 target price for the company. Wedbush restated a “buy” rating on shares of Best Buy in a research report on Monday, August 24th. Finally, Barclays raised their price objective on shares of Best Buy from $77.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $87.35.

About Best Buy

Best Buy is a retailer of consumer technology products and services. Its offerings include computers and mobile devices, televisions and home theater equipment, major appliances, and related accessories, sold through stores and digital channels.

The company also provides technology support and installation services through Geek Squad, including help with device setup, repairs, and home technology systems. Best Buy serves customers in the United States and Canada.

Founded in 1966 as Sound of Music, the company adopted the Best Buy name in 1983.