9,843 Shares in Best Buy Co., Inc. $BBY Purchased by Caerus Investment Advisors LLC

Caerus Investment Advisors LLC acquired a new stake in Best Buy Co., Inc. (NYSE:BBY) during the third quarter, Holdings Channel reports. The firm acquired 9,843 shares of the technology retailer’s stock, valued at approximately $744,000.

Several other institutional investors have also added to or reduced their stakes in the business. Captrust Financial Advisors raised its position in shares of Best Buy by 37.1% in the third quarter. Captrust Financial Advisors now owns 69,916 shares of the technology retailer’s stock valued at $5,287,000 after purchasing an additional 18,919 shares during the period. Coldstream Capital Management Inc. bought a new position in Best Buy in the 3rd quarter worth approximately $356,000. Danske Bank A S purchased a new position in Best Buy in the 3rd quarter valued at approximately $8,303,000. Stance Capital LLC bought a new stake in Best Buy during the 3rd quarter valued at $44,000. Finally, Advisory Services Network LLC bought a new stake in Best Buy during the 3rd quarter valued at $1,195,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Stock Down 0.4%

BBY opened at $62.64 on Wednesday. The firm has a market capitalization of $13.10 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.55 and a beta of 1.46. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $84.99. The company has a fifty day moving average price of $65.91 and a 200-day moving average price of $72.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.13. The company had revenue of $13.81 billion for the quarter, compared to the consensus estimate of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, March 24th. This is an increase from Best Buy’s previous quarterly dividend of $0.95. Best Buy’s payout ratio is 76.19%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BBY shares. JPMorgan Chase & Co. lowered Best Buy from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $99.00 to $76.00 in a report on Monday, February 2nd. Jefferies Financial Group decreased their price objective on Best Buy from $94.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Loop Capital increased their price objective on Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Citigroup raised their target price on Best Buy from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Finally, Telsey Advisory Group decreased their price target on Best Buy from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.20.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.