Best Buy Co., Inc. $BBY Stock Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 480.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,403 shares of the technology retailer’s stock after purchasing an additional 33,444 shares during the period. TD Waterhouse Canada Inc.’s holdings in Best Buy were worth $3,565,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BBY. BlackRock Inc. acquired a new stake in Best Buy in the 2nd quarter worth about $1,932,812,000. Bank of New York Mellon Corp purchased a new stake in Best Buy during the 2nd quarter worth approximately $174,893,000. Deutsche Bank AG purchased a new stake in Best Buy during the 2nd quarter worth approximately $116,003,000. Legal & General Group Plc acquired a new position in shares of Best Buy during the second quarter valued at approximately $83,427,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Best Buy during the second quarter valued at approximately $79,627,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BBY has been the topic of several research reports. Evercore set a $95.00 target price on Best Buy in a research report on Tuesday. Weiss Ratings raised Best Buy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Barclays boosted their price target on Best Buy from $77.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Truist Financial set a $100.00 price target on Best Buy in a research report on Thursday, August 27th. Finally, Jefferies Financial Group downgraded Best Buy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $89.00 to $85.00 in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Best Buy has a consensus rating of “Hold” and an average price target of $85.90.

Best Buy Stock Performance

BBY opened at $93.81 on Wednesday. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $96.53. The firm has a market capitalization of $19.67 billion, a PE ratio of 15.61, a PEG ratio of 2.28 and a beta of 1.26. 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 firm’s 50-day moving average price is $88.56 and its 200 day moving average price is $77.98.

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 analysts’ consensus estimates of $1.39 by $0.08. The company had revenue of $9.78 billion during 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%. Best Buy’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.81 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Thursday, September 17th. Best Buy’s payout ratio is currently 63.89%.

Insider Activity at Best Buy

In other news, Chairman Richard Schulze sold 300,000 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathleen Scarlett sold 116,062 shares of the stock in a transaction that occurred on 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 approximately $10,705,341.95. This represents a 49.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.50% of the company’s stock.

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.