Sage Capital Advisors llc Purchases New Holdings in Best Buy Co., Inc. $BBY

Sage Capital Advisors llc purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,793 shares of the technology retailer’s stock, valued at approximately $1,835,000.

A number of other large investors also recently modified their holdings of the business. Tema ETFs LLC boosted its position in shares of Best Buy by 6.5% in 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 period. B. Metzler seel. Sohn & Co. AG grew its stake in shares of Best Buy by 1.0% in 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 acquiring an additional 151 shares during the last quarter. Center for Financial Planning Inc. increased its position in 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 acquiring an additional 200 shares during the period. Avory & Company LLC increased its holdings in shares of Best Buy by 6.4% during the 4th quarter. Avory & Company LLC now owns 3,479 shares of the technology retailer’s stock worth $233,000 after purchasing an additional 210 shares during the period. Finally, Rockland Trust Co. increased its stake in Best Buy by 3.2% during the third quarter. Rockland Trust Co. now owns 6,820 shares of the technology retailer’s stock valued at $602,000 after acquiring an additional 212 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Price Performance

Shares of BBY stock traded up $1.22 during trading hours on Tuesday, reaching $88.20. 902,853 shares of the company were exchanged, compared to its average volume of 4,151,861. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $96.53. The stock’s fifty day moving average is $87.55 and its two-hundred day moving average is $76.79. The company has a market cap of $18.50 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 2.17 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.41.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, beating the consensus estimate of $1.39 by $0.08. The business had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $9.59 billion. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. Best Buy’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.82 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $3.84 annualized dividend and a yield of 4.4%. Best Buy’s dividend payout ratio is currently 63.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BBY shares. Guggenheim increased their price objective on shares of Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Wells Fargo & Company raised their target price on Best Buy from $65.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Truist Financial set a $100.00 price target on Best Buy in a research note on Thursday, August 27th. Barclays upped their price target on Best Buy from $77.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Finally, The Goldman Sachs Group increased their price objective on Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research note on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Best Buy has a consensus rating of “Hold” and an average price target of $85.65.

Insider Buying and Selling at Best Buy

In other Best Buy news, Chairman Richard Schulze sold 300,000 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total value of $27,753,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kathleen Scarlett sold 116,062 shares of Best Buy stock in a transaction on 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 directly owned 116,173 shares of the company’s stock, valued at $10,705,341.95. This trade represents a 49.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.50% of the stock is currently owned by corporate insiders.

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.