Best Buy Co., Inc. $BBY Shares Newly Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 240,000 shares of the technology retailer’s stock, valued at approximately $21,178,000.

A number of other large investors also recently modified their holdings of the company. Clark Wealth Partners acquired a new position in shares of Best Buy in the 3rd quarter valued at about $29,000. Ashurst Perkins Coie Trust Co increased its position in Best Buy by 75.1% during the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock worth $35,000 after purchasing an additional 169 shares in the last quarter. Aberdeen Wealth Management LLC purchased a new position in Best Buy in the second quarter valued at approximately $38,000. Farmers & Merchants Investments Inc. raised its holdings in Best Buy by 313.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 447 shares of the technology retailer’s stock valued at $39,000 after buying an additional 339 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its position in Best Buy by 65.9% during the first quarter. Hillsdale Investment Management Inc. now owns 730 shares of the technology retailer’s stock valued at $47,000 after buying an additional 290 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Performance

Shares of Best Buy stock opened at $95.56 on Friday. 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 cap of $20.04 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 2.51 and a beta of 1.26. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $100.58. The firm’s 50-day simple moving average is $90.37 and its 200-day simple moving average is $75.33.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.59 billion. During the same quarter last year, the business posted $1.28 EPS. Best Buy’s quarterly revenue was up 3.6% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Equities analysts forecast that Best Buy Co., Inc. will post 6.81 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

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

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 300,000 shares of the 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 legal filing with the SEC, which is available through the SEC website. Also, EVP Kathleen Scarlett sold 116,062 shares of the firm’s stock in a transaction dated 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the subject of several research reports. Citigroup boosted their price objective on shares of Best Buy from $79.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Morgan Stanley lifted their target price on shares of Best Buy from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 28th. Weiss Ratings cut shares of Best Buy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Evercore set a $100.00 price target on shares of Best Buy in a research report on Tuesday. Finally, Telsey Advisory Group increased their price target on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $86.15.

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.