6,113 Best Buy Co., Inc. $BBY Shares Purchased by Lynx Investment Advisory

Lynx Investment Advisory lifted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 142.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,408 shares of the technology retailer’s stock after acquiring an additional 6,113 shares during the quarter. Lynx Investment Advisory’s holdings in Best Buy were worth $918,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BBY. BlackRock Inc. bought a new position in shares of Best Buy during the 2nd quarter valued at $1,932,812,000. Bank of New York Mellon Corp purchased a new position in Best Buy in the 2nd quarter worth $174,893,000. Deutsche Bank AG bought a new stake in Best Buy in the second quarter worth $116,003,000. KBC Group NV lifted its stake in Best Buy by 50.5% in the first quarter. KBC Group NV now owns 1,584,803 shares of the technology retailer’s stock worth $101,745,000 after purchasing an additional 531,998 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Best Buy by 113.4% in the first quarter. Renaissance Technologies LLC now owns 1,449,439 shares of the technology retailer’s stock worth $93,054,000 after purchasing an additional 770,339 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Trading Down 1.7%

Shares of BBY opened at $96.86 on Thursday. The stock has a market capitalization of $20.32 billion, a P/E ratio of 16.12, a PEG ratio of 2.50 and a beta of 1.26. 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 fifty day simple moving average of $89.95 and a two-hundred day simple moving average of $75.04. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $100.58.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. The firm 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 company’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 company earned $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, research analysts anticipate that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were paid a $0.96 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $3.84 annualized dividend and a dividend yield of 4.0%. Best Buy’s dividend payout ratio (DPR) is presently 63.89%.

Wall Street Analyst Weigh In

BBY has been the topic of a number of recent research reports. Morgan Stanley raised their price objective 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 boosted their target price on Best Buy from $62.00 to $71.00 and gave the company a “sell” rating in a research note on Friday, August 28th. Bank of America started coverage on Best Buy in a report on Monday, August 3rd. They set an “underperform” rating and a $80.00 target price for the company. DA Davidson upgraded Best Buy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 24th. Finally, Citigroup raised their price target on Best Buy from $79.00 to $88.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. One research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and an average price target of $86.15.

Insider Transactions at Best Buy

In other Best Buy news, EVP Kathleen Scarlett sold 116,062 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was 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 owned 116,173 shares in the company, valued at approximately $10,705,341.95. This trade represents a 49.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 300,000 shares of Best Buy 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. The disclosure for this sale is available in the SEC filing. 0.50% of the stock is owned by insiders.

Best Buy 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.