Best Buy Co., Inc. $BBY Shares Bought by Lynx Investment Advisory

Lynx Investment Advisory boosted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 142.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,408 shares of the technology retailer’s stock after buying an additional 6,113 shares during the period. Lynx Investment Advisory’s holdings in Best Buy were worth $918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BBY. Clark Wealth Partners purchased a new position in shares of Best Buy in the third quarter valued at $29,000. Ashurst Perkins Coie Trust Co lifted its holdings in 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 in the last quarter. Aberdeen Wealth Management LLC purchased a new stake in Best Buy during the 2nd quarter worth about $38,000. Farmers & Merchants Investments Inc. lifted its holdings in 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 in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in Best Buy by 65.9% in the 1st quarter. Hillsdale Investment Management Inc. now owns 730 shares of the technology retailer’s stock worth $47,000 after purchasing an additional 290 shares during the period. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In related news, EVP Kathleen Scarlett sold 116,062 shares of the stock in a transaction on 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 owned 116,173 shares of the company’s stock, valued at $10,705,341.95. This represents a 49.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard M. Schulze sold 300,000 shares of the 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.50% of the company’s stock.

Best Buy Stock Down 1.7%

BBY stock opened at $96.86 on Thursday. 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’s 50 day moving average is $89.95 and its 200 day moving average is $75.04. The stock has a market cap of $20.32 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 2.50 and a beta of 1.26. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $100.58.

Best Buy (NYSE:BBY) last announced its 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. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The business had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.59 billion. During the same period last year, the firm posted $1.28 earnings per share. Best Buy’s quarterly revenue was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Sell-side analysts predict that Best Buy Co., Inc. will post 6.81 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, September 17th. This represents a $3.84 annualized dividend and a dividend yield of 4.0%. Best Buy’s dividend payout ratio (DPR) is 63.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. DA Davidson upgraded Best Buy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 24th. Wedbush reaffirmed a “buy” rating on shares of Best Buy in a research note on Monday, August 24th. Citigroup upped their target price on shares of Best Buy from $79.00 to $88.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Morgan Stanley increased their target price on shares of Best Buy from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 28th. Finally, Wells Fargo & Company raised their price target on shares of Best Buy from $65.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. 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 two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.15.

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.