40,105 Best Buy Co., Inc. $BBY Shares Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 52,769.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,181 shares of the technology retailer’s stock after buying an additional 40,105 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Best Buy were worth $3,525,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. B.A. Schrock Wealth Management Inc. purchased a new stake in shares of Best Buy during the 3rd quarter worth $2,064,000. Corient Private Wealth LP acquired a new position in shares of Best Buy during the second quarter worth $18,648,000. Munich Reinsurance Co Stock Corp in Munich grew its stake in shares of Best Buy by 80.0% during the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 92,464 shares of the technology retailer’s stock worth $7,016,000 after purchasing an additional 41,092 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of Best Buy by 139.3% during the third quarter. Yousif Capital Management LLC now owns 61,305 shares of the technology retailer’s stock worth $5,410,000 after purchasing an additional 35,684 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Best Buy in the second quarter valued at $2,734,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Trading Up 6.8%

Shares of Best Buy stock opened at $106.36 on Tuesday. 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 company has a fifty day simple moving average of $92.05 and a 200-day simple moving average of $76.30. The stock has a market cap of $22.31 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.53 and a beta of 1.20. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $106.83.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, topping the consensus estimate 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 period last year, the business earned $1.28 EPS. Best Buy’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. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.81 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.6%. Best Buy’s dividend payout ratio (DPR) is presently 63.89%.

Insider Activity

In other news, Chairman Richard Schulze sold 300,000 shares of Best Buy stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total transaction of $27,753,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kathleen Scarlett sold 116,062 shares of the business’s 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 sale, the executive vice president directly owned 116,173 shares of the company’s stock, valued at $10,705,341.95. The trade was a 49.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Morgan Stanley raised their price target on Best Buy from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 28th. The Goldman Sachs Group upped their price objective on Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research report on Friday, August 28th. Barclays increased their price objective on Best Buy from $77.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 28th. Weiss Ratings lowered Best Buy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, October 27th. Finally, Evercore set a $100.00 target price on Best Buy in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average 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.