52,860 Shares of Best Buy Co., Inc. $BBY Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the third quarter, Holdings Channel reports. The firm acquired 52,860 shares of the technology retailer’s stock, valued at approximately $4,602,000.

A number of other large investors have also modified their holdings of BBY. Kintegral Advisory LLC increased its stake in Best Buy by 0.6% during the 3rd quarter. Kintegral Advisory LLC now owns 23,543 shares of the technology retailer’s stock valued at $2,100,000 after purchasing an additional 133 shares in the last quarter. Tema ETFs LLC raised its position in Best Buy by 6.5% during the second quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock valued at $179,000 after acquiring an additional 145 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its stake in shares of Best Buy by 1.0% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 14,613 shares of the technology retailer’s stock valued at $1,109,000 after purchasing an additional 151 shares during the period. Ashurst Perkins Coie Trust Co boosted its stake in shares of 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 acquiring an additional 169 shares in the last quarter. Finally, Center for Financial Planning Inc. grew its holdings in Best Buy by 4.9% in the first quarter. Center for Financial Planning Inc. now owns 4,319 shares of the technology retailer’s stock valued at $277,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of BBY opened at $92.87 on Friday. 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 $19.48 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 2.31 and a beta of 1.26. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $96.53. The company’s 50 day simple moving average is $88.18 and its 200-day simple moving average is $77.49.

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, topping the consensus estimate of $1.39 by $0.08. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The business had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.59 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The business’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. As a group, equities analysts predict that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Thursday, September 17th. Best Buy’s payout ratio is 63.89%.

Insider Buying and Selling

In other news, Chairman Richard Schulze sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total value of $27,753,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kathleen Scarlett sold 116,062 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were 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 of the company’s stock, valued at $10,705,341.95. This represents a 49.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

BBY has been the topic of a number of research reports. DA Davidson raised shares of Best Buy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 24th. Truist Financial set a $100.00 target price on shares of Best Buy in a research note on Thursday, August 27th. Loop Capital cut Best Buy from a “buy” rating to a “hold” rating and set a $82.00 price target for the company. in a report on Monday, July 13th. Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Finally, Piper Sandler boosted their price objective on Best Buy from $77.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.65.

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.