Best Buy Co., Inc. $BBY Shares Newly Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,575 shares of the technology retailer’s stock, valued at approximately $492,000.

Other institutional investors have also recently made changes to their positions in the company. Clark Wealth Partners bought a new stake in Best Buy during the 3rd quarter valued at approximately $29,000. Ashurst Perkins Coie Trust Co boosted its stake in Best Buy by 75.1% in 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 period. Aberdeen Wealth Management LLC bought a new position in Best Buy in the 2nd quarter worth approximately $38,000. Farmers & Merchants Investments Inc. grew 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 valued at $39,000 after buying an additional 339 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in Best Buy by 65.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 730 shares of the technology retailer’s stock valued at $47,000 after buying an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of Best Buy stock opened at $99.58 on Friday. The firm has a market cap of $20.89 billion, a PE ratio of 16.57, a PEG ratio of 2.49 and a beta of 1.20. The stock has a 50 day moving average of $91.57 and a 200 day moving average of $76.10. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $103.54.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.08. The business had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, research analysts expect that Best Buy Co., Inc. will post 6.81 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were issued a $0.96 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.9%. Best Buy’s dividend payout ratio (DPR) is 63.89%.

Insiders Place Their Bets

In related news, Chairman Richard Schulze sold 300,000 shares of the business’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 legal filing with the SEC, which is accessible through this link. Also, EVP Kathleen Scarlett sold 116,062 shares of the company’s 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 sale, 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 position. The SEC filing for this sale provides additional information. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BBY. Morgan Stanley lifted their price objective on shares of Best Buy from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, August 28th. Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Evercore set a $100.00 target price on shares of Best Buy in a research note on Tuesday, October 27th. Wells Fargo & Company lifted their price target on shares of Best Buy from $85.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday. Finally, The Goldman Sachs Group boosted their price target on shares of Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research note on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.35.

Best Buy Company 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.