7,864 Shares in Best Buy Co., Inc. $BBY Purchased by Collaborative Fund Advisors LLC

Collaborative Fund Advisors LLC acquired a new position in Best Buy Co., Inc. (NYSE:BBY) during the third quarter, HoldingsChannel.com reports. The fund acquired 7,864 shares of the technology retailer’s stock, valued at approximately $694,000.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Best Buy in the second quarter valued at $1,932,812,000. Bank of New York Mellon Corp bought a new stake in Best Buy during the 2nd quarter worth about $174,893,000. Deutsche Bank AG acquired a new position in shares of Best Buy during the 2nd quarter worth about $116,003,000. KBC Group NV boosted its stake in shares of Best Buy by 50.5% during the 1st quarter. KBC Group NV now owns 1,584,803 shares of the technology retailer’s stock worth $101,745,000 after buying an additional 531,998 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Best Buy by 113.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,449,439 shares of the technology retailer’s stock valued at $93,054,000 after acquiring an additional 770,339 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Activity at Best Buy

In other Best Buy 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 SEC, which is accessible through this link. Also, EVP Kathleen Scarlett sold 116,062 shares of the firm’s 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. The trade was a 49.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on BBY shares. Piper Sandler lifted their target price on Best Buy from $77.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Wells Fargo & Company increased their price target on Best Buy from $65.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Barclays raised their price target on Best Buy from $77.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, August 28th. DA Davidson raised Best Buy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 24th. Finally, The Goldman Sachs Group boosted their price target on Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $86.15.

Best Buy Stock Performance

Shares of BBY opened at $101.42 on Thursday. The firm has a 50-day moving average of $91.01 and a 200-day moving average of $75.77. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $101.49. The company has a market cap of $21.27 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 2.35 and a beta of 1.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.41.

Best Buy (NYSE:BBY) last issued its earnings results 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 company 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 quarterly revenue was up 3.6% compared to the same quarter last year. During the same period 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, equities analysts forecast that Best Buy Co., Inc. will post 6.81 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy’s payout ratio is 63.89%.

Best Buy Company 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.