56,691 Shares of Best Buy Co., Inc. $BBY Purchased by Vest Financial LLC

Vest Financial LLC purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,691 shares of the technology retailer’s stock, valued at approximately $5,002,000.

A number of other hedge funds have also recently bought and sold shares of the stock. B.A. Schrock Wealth Management Inc. bought a new position in shares of Best Buy in the third quarter valued at $2,064,000. Corient Private Wealth LP acquired a new position in Best Buy during the second quarter worth $18,648,000. Munich Reinsurance Co Stock Corp in Munich increased its holdings in Best Buy by 80.0% during the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 92,464 shares of the technology retailer’s stock worth $7,016,000 after buying an additional 41,092 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Best Buy during the second quarter worth $2,734,000. Finally, BlackRock Inc. bought a new stake in Best Buy during the second quarter worth $1,932,812,000. 80.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard Schulze sold 300,000 shares of Best Buy stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total transaction of $27,753,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kathleen Scarlett sold 116,062 shares of the business’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $92.15, for a total transaction of $10,695,113.30. Following the completion of the sale, the executive vice president directly owned 116,173 shares in the company, valued at approximately $10,705,341.95. This represents a 49.98% decrease in their position. The SEC filing for this sale provides additional information. 0.50% of the stock is currently owned by company insiders.

Best Buy Price Performance

Shares of NYSE:BBY opened at $99.85 on Friday. The firm has a 50 day moving average of $89.34 and a 200-day moving average of $78.59. The stock has a market capitalization of $20.94 billion, a PE ratio of 16.61, a PEG ratio of 2.49 and a beta of 1.26. 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 $100.58.

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

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid 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 dividend yield of 3.8%. Best Buy’s dividend payout ratio (DPR) is presently 63.89%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. DA Davidson upgraded shares of Best Buy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 24th. The Goldman Sachs Group boosted their price target on Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research report on Friday, August 28th. Truist Financial set a $100.00 price target on Best Buy in a research report on Thursday, August 27th. Weiss Ratings upgraded Best Buy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Loop Capital cut Best Buy from a “buy” rating to a “hold” rating and set a $82.00 price objective for the company. in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $85.90.

About Best Buy

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.