Best Buy Co., Inc. $BBY Stock Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC reduced its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 58.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,108 shares of the technology retailer’s stock after selling 13,044 shares during the period. Curated Wealth Partners LLC’s holdings in Best Buy were worth $804,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of BBY. BlackRock Inc. acquired a new stake in shares of Best Buy in the 2nd quarter worth $1,932,812,000. Bank of New York Mellon Corp acquired a new stake in shares of Best Buy in the 2nd quarter valued at approximately $174,893,000. Hsbc Holdings PLC grew its holdings in Best Buy by 104.1% during the fourth quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer’s stock worth $135,685,000 after acquiring an additional 1,030,544 shares during the period. Deutsche Bank AG purchased a new position in Best Buy in the second quarter worth $116,003,000. Finally, KBC Group NV lifted its stake in shares of Best Buy by 50.5% in the first quarter. KBC Group NV now owns 1,584,803 shares of the technology retailer’s stock valued at $101,745,000 after purchasing an additional 531,998 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Price Performance

BBY opened at $94.08 on Friday. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $96.53. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36. The firm has a market cap of $19.73 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.23 and a beta of 1.26. The company has a fifty day simple moving average of $87.96 and a 200 day simple moving average of $77.38.

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

Best Buy Announces Dividend

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 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Thursday, September 17th. Best Buy’s dividend payout ratio (DPR) is 63.89%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BBY. Barclays upped their price target on Best Buy from $77.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Piper Sandler lifted their target price on shares of Best Buy from $77.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Jefferies Financial Group downgraded Best Buy from a “buy” rating to a “hold” rating and cut their price objective for the stock from $89.00 to $85.00 in a research report on Wednesday, August 5th. UBS Group reaffirmed a “neutral” rating and set a $90.00 price objective (up from $86.00) on shares of Best Buy in a research note on Friday, August 28th. Finally, Bank of America began coverage on shares of Best Buy in a research note on Monday, August 3rd. They set an “underperform” rating and a $80.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $85.65.

Insider Buying and Selling

In other news, EVP Kathleen Scarlett sold 116,062 shares of Best Buy stock in a transaction that occurred 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 trade represents a 49.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard Schulze sold 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total value of $27,753,000.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.50% of the company’s stock.

Best Buy 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.