Best Buy Co., Inc. $BBY Position Increased by Signaturefd LLC

Signaturefd LLC grew its holdings in Best Buy Co., Inc. (NYSE:BBY) by 337.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,641 shares of the technology retailer’s stock after buying an additional 7,438 shares during the quarter. Signaturefd LLC’s holdings in Best Buy were worth $851,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Citizens Financial Group Inc. RI lifted its holdings in shares of Best Buy by 525.5% during the third quarter. Citizens Financial Group Inc. RI now owns 23,512 shares of the technology retailer’s stock valued at $2,075,000 after acquiring an additional 19,753 shares during the period. Simplicity Wealth LLC acquired a new stake in Best Buy during the 3rd quarter valued at $310,000. Carolina Wealth Advisors LLC raised its position in Best Buy by 1.7% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 36,008 shares of the technology retailer’s stock valued at $3,177,000 after purchasing an additional 586 shares during the last quarter. Sowell Financial Services LLC raised its position in Best Buy by 47.1% in the 3rd quarter. Sowell Financial Services LLC now owns 12,954 shares of the technology retailer’s stock valued at $1,073,000 after purchasing an additional 4,145 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in Best Buy by 209.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 11,232 shares of the technology retailer’s stock valued at $991,000 after purchasing an additional 7,601 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of Best Buy stock opened at $96.86 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.41. The firm has a 50 day simple moving average of $89.95 and a 200 day simple moving average of $75.04. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $100.58. The firm has a market cap of $20.32 billion, a P/E ratio of 16.12, a P/E/G ratio of 2.50 and a beta of 1.26.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.08. The firm 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 business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Sell-side analysts predict that Best Buy Co., Inc. will post 6.81 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, September 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.0%. Best Buy’s payout ratio is presently 63.89%.

Insiders Place Their Bets

In other news, EVP Kathleen Scarlett sold 116,062 shares of the company’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 transaction, the executive vice president owned 116,173 shares of the company’s stock, valued at $10,705,341.95. This represents a 49.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Richard Schulze sold 300,000 shares of the company’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 disclosure for this sale is available in the SEC filing. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

BBY has been the topic of several research analyst reports. Guggenheim increased their target price on Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 28th. UBS Group reaffirmed a “neutral” rating and issued a $90.00 price target (up from $86.00) on shares of Best Buy in a report on Friday, August 28th. Weiss Ratings cut Best Buy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Wedbush reiterated a “buy” rating on shares of Best Buy in a research report on Monday, August 24th. Finally, Telsey Advisory Group increased their price objective on shares of Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Best Buy has an average rating of “Hold” and an average price target of $86.15.

Best Buy Company 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.