Best Buy Co., Inc. $BBY Stock Acquired by Krilogy Financial LLC

Krilogy Financial LLC raised its stake in Best Buy Co., Inc. (NYSE:BBY) by 255.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,902 shares of the technology retailer’s stock after buying an additional 7,831 shares during the period. Krilogy Financial LLC’s holdings in Best Buy were worth $886,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Corient Private Wealth LP bought a new position in Best Buy in the second quarter valued at $18,648,000. Munich Reinsurance Co Stock Corp in Munich raised its position 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 valued at $7,016,000 after purchasing an additional 41,092 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Best Buy during the second quarter valued at about $2,734,000. BlackRock Inc. purchased a new stake in Best Buy during the second quarter valued at about $1,932,812,000. Finally, Meeder Asset Management Inc. bought a new stake in Best Buy during the second quarter worth about $1,224,000. Institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

BBY has been the subject of a number of research reports. Evercore upped their price objective on Best Buy from $85.00 to $90.00 in a report on Tuesday, September 29th. Loop Capital lowered Best Buy from a “buy” rating to a “hold” rating and set a $82.00 price objective on the stock. in a research report on Monday, July 13th. Telsey Advisory Group raised their price objective on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. DA Davidson raised Best Buy from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 24th. Finally, Wall Street Zen upgraded Best Buy from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Best Buy has an average rating of “Hold” and a consensus target price of $85.65.

Best Buy Trading Down 1.4%

NYSE:BBY traded down $1.30 during trading hours on Friday, reaching $92.87. The company’s stock had a trading volume of 3,397,133 shares, compared to its average volume of 3,108,064. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.41 and a current ratio of 1.12. The firm has a market capitalization of $19.48 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 2.35 and a beta of 1.26. The firm has a 50-day simple moving average of $88.18 and a 200-day simple moving average of $77.49. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $96.53.

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

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders 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 of this dividend was Thursday, September 17th. Best Buy’s payout ratio is 63.89%.

Insider Buying and Selling

In other Best Buy news, EVP Kathleen Scarlett sold 116,062 shares of the business’s 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 sale, the executive vice president owned 116,173 shares in the company, valued at approximately $10,705,341.95. The trade was a 49.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard Schulze sold 300,000 shares of the 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. 0.50% of the stock is owned by 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.