Mather Group LLC. Buys 8,517 Shares of Best Buy Co., Inc. $BBY

Mather Group LLC. increased its stake in Best Buy Co., Inc. (NYSE:BBY) by 564.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,026 shares of the technology retailer’s stock after acquiring an additional 8,517 shares during the period. Mather Group LLC.’s holdings in Best Buy were worth $885,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. First Pacific Financial acquired a new position in Best Buy during the third quarter worth approximately $116,000. Fortitude Family Office LLC raised its stake in Best Buy by 2,323.2% during the third quarter. Fortitude Family Office LLC now owns 3,756 shares of the technology retailer’s stock worth $331,000 after purchasing an additional 3,601 shares during the period. Strategy Asset Managers LLC acquired a new position in shares of Best Buy in the 3rd quarter valued at $495,000. Triumph Capital Management boosted its holdings in shares of Best Buy by 167.7% in the 3rd quarter. Triumph Capital Management now owns 937 shares of the technology retailer’s stock valued at $83,000 after purchasing an additional 587 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC acquired a new position in shares of Best Buy in the 3rd quarter valued at $2,075,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BBY has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on shares of Best Buy from $62.00 to $71.00 and gave the company a “sell” rating in a research note on Friday, August 28th. Piper Sandler increased their target price on Best Buy from $77.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Bank of America assumed coverage on Best Buy in a research report on Monday, August 3rd. They issued an “underperform” rating and a $80.00 target price on the stock. Evercore lifted their target price on Best Buy from $85.00 to $90.00 in a report on Tuesday, September 29th. Finally, Jefferies Financial Group cut Best Buy from a “buy” rating to a “hold” rating and reduced their target price for the company from $89.00 to $85.00 in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and a consensus price target of $85.65.

Insiders Place Their Bets

In other news, Chairman Richard Schulze sold 300,000 shares of the firm’s stock in a transaction on 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 filing with the SEC, which is accessible through this link. Also, EVP Kathleen Scarlett sold 116,062 shares of Best Buy stock in a transaction on 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 transaction, the executive vice president owned 116,173 shares in the company, valued at $10,705,341.95. The trade was a 49.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.50% of the company’s stock.

Best Buy Stock Down 1.4%

BBY opened at $92.87 on Friday. The firm has a 50 day moving average price of $88.18 and a 200 day moving average price of $77.49. The company has a market cap of $19.48 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 2.31 and a beta of 1.26. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $96.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.41 and a current ratio of 1.12.

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 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%. Best Buy’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Sell-side analysts expect that Best Buy Co., Inc. will post 6.81 earnings per share for the current 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 $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy’s dividend payout ratio (DPR) is currently 63.89%.

About Best Buy

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.