23,511 Shares in Best Buy Co., Inc. $BBY Purchased by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC acquired a new stake in Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 23,511 shares of the technology retailer’s stock, valued at approximately $2,075,000.

Several other large investors also recently made changes to their positions in BBY. MV Capital Management Inc. bought a new position in shares of Best Buy in the fourth quarter valued at $25,000. Bayban acquired a new position in Best Buy during the fourth quarter worth $33,000. Aberdeen Wealth Management LLC bought a new stake in Best Buy during the second quarter worth $38,000. Maseco LLP bought a new stake in Best Buy during the first quarter worth $37,000. Finally, Elevation Wealth Partners LLC raised its position in Best Buy by 2,120.7% during the second quarter. Elevation Wealth Partners LLC now owns 644 shares of the technology retailer’s stock worth $49,000 after acquiring an additional 615 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Sunday. Piper Sandler upped their target price on shares of Best Buy from $77.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Bank of America began coverage on shares of Best Buy in a report on Monday, August 3rd. They issued an “underperform” rating and a $80.00 target price on the stock. Guggenheim raised their target price on shares of Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Wedbush reiterated a “buy” rating on shares of Best Buy in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $85.65.

Best Buy Stock Performance

BBY stock traded up $1.02 during midday trading on Wednesday, reaching $88.98. 1,980,307 shares of the company were exchanged, compared to its average volume of 4,146,414. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.41. The business has a 50-day moving average price of $87.68 and a two-hundred day moving average price of $77.16. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $96.53. The firm has a market capitalization of $18.66 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 2.17 and a beta of 1.26.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, beating the consensus estimate of $1.39 by $0.08. The firm had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.59 billion. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period 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. Equities research analysts forecast that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors 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 4.3%. Best Buy’s payout ratio is presently 63.89%.

Insider Transactions at Best Buy

In related news, Chairman Richard Schulze sold 300,000 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total value of $27,753,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kathleen Scarlett sold 116,062 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $92.15, for a total transaction 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 approximately $10,705,341.95. This represents a 49.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.50% of the stock is currently owned by corporate insiders.

Best Buy Company Profile

Best Buy Co, Inc (NYSE: BBY) is a specialty retailer of technology products and services. The company sells consumer electronics, computers and tablets, mobile phones, appliances, entertainment products, smart-home devices, gaming equipment and related accessories through its stores and digital platforms.

Best Buy also provides technology services through Geek Squad, including product installation, setup, repair, troubleshooting and technical support. Its operations include retail stores, e-commerce, delivery and fulfillment services, as well as membership and protection offerings.