Best Buy Co., Inc. $BBY Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 119.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,808 shares of the technology retailer’s stock after purchasing an additional 106,213 shares during the period. Commonwealth Equity Services LLC’s holdings in Best Buy were worth $17,190,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Clark Wealth Partners bought a new stake in shares of Best Buy in the 3rd quarter valued at approximately $29,000. Ashurst Perkins Coie Trust Co increased its stake in shares of Best Buy by 75.1% during the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock worth $35,000 after purchasing an additional 169 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of Best Buy by 313.9% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 447 shares of the technology retailer’s stock worth $39,000 after purchasing an additional 339 shares during the last quarter. Aberdeen Wealth Management LLC acquired a new position in shares of Best Buy during the 2nd quarter worth $38,000. Finally, Physician Wealth Advisors Inc. raised its holdings in shares of Best Buy by 582.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 621 shares of the technology retailer’s stock valued at $55,000 after purchasing an additional 530 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

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

Best Buy Price Performance

NYSE BBY opened at $104.13 on Wednesday. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $106.83. The company has a fifty day simple moving average of $92.52 and a 200 day simple moving average of $76.48. 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 market cap of $21.84 billion, a P/E ratio of 17.33, a P/E/G ratio of 2.66 and a beta of 1.20.

Best Buy (NYSE:BBY) last announced its 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. 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 business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy’s dividend payout ratio (DPR) is currently 63.89%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BBY. Jefferies Financial Group lowered shares of 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. Truist Financial set a $100.00 target price on shares of Best Buy in a research report on Thursday, August 27th. Wall Street Zen raised shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Weiss Ratings lowered Best Buy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, October 27th. Finally, Piper Sandler boosted their price target on Best Buy from $77.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $87.35.

Key Headlines Impacting Best Buy

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy’s fresh 52-week high reflects strong recent momentum. One analysis considers whether the stock has room to rise further, while other coverage points to future cash flow and valuation measures as reasons it may still be undervalued. Best Buy hits a fresh high Best Buy stock looks cheap based on future cash flow Is Best Buy undervalued?
• Positive Sentiment: Fresh analyst support and attention to BBY’s value appeal may help reinforce buying interest. Separate coverage also presents Best Buy as a potential dividend-stock candidate. Best Buy gets fresh analyst support Why Best Buy may be a dividend stock
• Neutral Sentiment: Two reports say Best Buy price targets were raised to $95 and $102. The increases signal improved analyst expectations, but both targets are below the recent share price, potentially limiting near-term upside according to those estimates. Price target raised to $95 Price target raised to $102

Best Buy Profile

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.