Net Worth Advisory Group Purchases 10,440 Shares of Best Buy Co., Inc. $BBY

Net Worth Advisory Group purchased a new position in Best Buy Co., Inc. (NYSE:BBY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,440 shares of the technology retailer’s stock, valued at approximately $921,000.

A number of other large investors have also added to or reduced their stakes in BBY. Kintegral Advisory LLC increased its position in shares of Best Buy by 0.6% in the third quarter. Kintegral Advisory LLC now owns 23,543 shares of the technology retailer’s stock valued at $2,100,000 after acquiring an additional 133 shares during the period. Tema ETFs LLC raised its stake in shares of Best Buy by 6.5% during the second quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock valued at $179,000 after acquiring an additional 145 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of Best Buy by 1.0% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 14,613 shares of the technology retailer’s stock worth $1,109,000 after purchasing an additional 151 shares during the period. Ashurst Perkins Coie Trust Co boosted its holdings in shares of Best Buy by 75.1% during the third 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. Finally, Center for Financial Planning Inc. boosted its holdings in shares of Best Buy by 4.9% during the first quarter. Center for Financial Planning Inc. now owns 4,319 shares of the technology retailer’s stock worth $277,000 after purchasing an additional 200 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Down 1.7%

BBY stock opened at $91.06 on Tuesday. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $96.53. The company has a market capitalization of $19.10 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 2.31 and a beta of 1.26. The business’s 50 day moving average price is $88.35 and its two-hundred day moving average price is $77.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.41 and a current ratio of 1.12.

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

Best Buy Dividend Announcement

The company 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 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy’s dividend payout ratio is presently 63.89%.

Analyst Ratings Changes

Several research firms recently issued reports on BBY. DA Davidson raised Best Buy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 24th. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a research report on Monday, June 22nd. Guggenheim upped their price target on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Citigroup increased their price objective on Best Buy from $79.00 to $88.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Bank of America began coverage on Best Buy in a research report on Monday, August 3rd. They issued an “underperform” rating and a $80.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.65.

Insiders Place Their Bets

In other Best Buy 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 completion of the transaction, the executive vice president owned 116,173 shares in the company, valued at approximately $10,705,341.95. This represents a 49.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard Schulze sold 300,000 shares of the firm’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 SEC filing for this sale provides additional information. 0.50% of the stock is currently owned by corporate insiders.

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.