Best Buy Co., Inc. $BBY Shares Newly Acquired by MBL Wealth LLC

MBL Wealth LLC bought a new stake in Best Buy Co., Inc. (NYSE:BBY) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,550 shares of the technology retailer’s stock, valued at approximately $931,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of BBY. Compass Wealth Management LLC acquired a new position in Best Buy during the third quarter valued at $1,176,000. Sepio Capital LP purchased a new stake in Best Buy in the third quarter valued at $1,446,000. Brookstone Capital Management purchased a new stake in Best Buy in the third quarter valued at $1,730,000. Isthmus Partners LLC purchased a new stake in Best Buy in the third quarter valued at $18,258,000. Finally, Root Financial Partners LLC acquired a new stake in Best Buy during the 3rd quarter worth about $228,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 300,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathleen Scarlett sold 116,062 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $10,705,341.95. This trade represents a 49.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.50% of the company’s stock.

Best Buy Trading Up 0.0%

BBY stock opened at $99.85 on Friday. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $100.58. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The firm has a market cap of $20.94 billion, a P/E ratio of 16.61, a PEG ratio of 2.49 and a beta of 1.26. The company’s 50-day simple moving average is $89.34 and its 200-day simple moving average is $78.59.

Best Buy (NYSE:BBY) last announced its quarterly earnings results 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. The firm had revenue of $9.78 billion during the quarter, compared to analyst estimates of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. Best Buy’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, equities analysts forecast that Best Buy Co., Inc. will post 6.81 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy’s dividend payout ratio is presently 63.89%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BBY shares. Weiss Ratings upgraded Best Buy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. The Goldman Sachs Group upped their target price on Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research note on Friday, August 28th. Piper Sandler raised their target price on Best Buy from $77.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. Telsey Advisory Group raised 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. Finally, Guggenheim lifted their price target on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, August 28th. One 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 company’s stock. According to MarketBeat, Best Buy presently has an average rating of “Hold” and a consensus price target of $85.90.

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.