Best Buy Co., Inc. $BBY Holdings Increased by Keybank National Association OH

Keybank National Association OH increased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 37.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,107 shares of the technology retailer’s stock after purchasing an additional 5,451 shares during the quarter. Keybank National Association OH’s holdings in Best Buy were worth $1,658,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Asset Dedication LLC acquired a new stake in Best Buy during the 3rd quarter worth $27,000. Clark Wealth Partners acquired a new stake in shares of Best Buy in the third quarter valued at about $29,000. Entrust Financial LLC acquired a new stake in shares of Best Buy in the third quarter valued at about $31,000. Ashurst Perkins Coie Trust Co lifted its stake in shares of Best Buy by 75.1% in the third quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock worth $35,000 after buying an additional 169 shares in the last quarter. Finally, Aberdeen Wealth Management LLC purchased a new position in shares of Best Buy in the second quarter worth about $38,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Sunday, October 11th. Morgan Stanley increased their price objective on shares of Best Buy from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 28th. Guggenheim raised their target price on shares of Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. DA Davidson raised shares of Best Buy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 24th. Finally, Weiss Ratings cut Best Buy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Best Buy has an average rating of “Hold” and an average price target of $87.33.

Insider Activity

In other news, Chairman Richard M. Schulze sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total transaction of $27,753,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $92.15, for a total transaction of $10,695,113.30. Following the sale, the executive vice president owned 116,173 shares of the company’s stock, valued at $10,705,341.95. This represents a 49.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.50% of the company’s stock.

Best Buy Trading Up 0.6%

Shares of BBY traded up $0.59 during midday trading on Friday, reaching $104.00. The company had a trading volume of 1,575,001 shares, compared to its average volume of 2,826,361. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $106.83. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The firm has a 50 day simple moving average of $93.64 and a 200-day simple moving average of $77.05. The stock has a market cap of $21.81 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 2.58 and a beta of 1.20.

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 the consensus estimate of $1.39 by $0.08. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The firm had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $9.59 billion. During the same quarter in the previous year, the company posted $1.28 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Research analysts forecast that Best Buy Co., Inc. will post 6.81 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.7%. Best Buy’s payout ratio is 63.89%.

About Best Buy

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.