Best Buy Co., Inc. $BBY Shares Purchased by Mather Group LLC.

Mather Group LLC. boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 564.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,026 shares of the technology retailer’s stock after acquiring an additional 8,517 shares during the quarter. Mather Group LLC.’s holdings in Best Buy were worth $885,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on BBY shares. Wells Fargo & Company upped their target price on shares of Best Buy from $65.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Barclays lifted their price target on shares of Best Buy from $77.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Truist Financial set a $100.00 price target on shares of Best Buy in a research note on Thursday, August 27th. Wedbush reiterated a “buy” rating on shares of Best Buy in a report on Monday, August 24th. Finally, The Goldman Sachs Group boosted their price objective on shares of Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and an average price target of $85.65.

Insider Activity

In other news, EVP Kathleen Scarlett sold 116,062 shares of the business’s stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard Schulze sold 300,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total value of $27,753,000.00. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is currently owned by insiders.

Best Buy Price Performance

Shares of NYSE BBY opened at $92.87 on Friday. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $96.53. The business has a 50 day moving average price of $88.18 and a two-hundred day moving average price of $77.49. The firm 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 (NYSE:BBY) last announced 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. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. The company had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. During the same period in the prior year, the company posted $1.28 EPS. 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 expect that Best Buy Co., Inc. will post 6.81 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors 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 was Thursday, September 17th. Best Buy’s payout ratio is 63.89%.

Best Buy Company Profile

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.