42,658 Shares of Best Buy Co., Inc. $BBY Purchased by Value Partners Investments Inc.

Value Partners Investments Inc. acquired a new position in Best Buy Co., Inc. (NYSE:BBY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 42,658 shares of the technology retailer’s stock, valued at approximately $3,764,000.

Several other large investors have also made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Best Buy during the 2nd quarter worth about $1,932,812,000. Bank of New York Mellon Corp acquired a new stake in Best Buy in the 2nd quarter valued at approximately $174,893,000. Hsbc Holdings PLC grew its holdings in Best Buy by 104.1% in the 4th quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer’s stock valued at $135,685,000 after buying an additional 1,030,544 shares during the last quarter. KBC Group NV grew its holdings in Best Buy by 50.5% in the 1st quarter. KBC Group NV now owns 1,584,803 shares of the technology retailer’s stock valued at $101,745,000 after buying an additional 531,998 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in Best Buy in the 2nd quarter worth approximately $116,003,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Loop Capital lowered 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. Weiss Ratings raised Best Buy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Wedbush restated a “buy” rating on shares of Best Buy in a research note on Monday, August 24th. Guggenheim raised their price objective on shares of Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, Wells Fargo & Company boosted their target price on shares of Best Buy from $65.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Best Buy presently has a consensus rating of “Hold” and a consensus price target of $85.65.

Insider Activity at Best Buy

In other Best Buy news, EVP Kathleen Scarlett sold 116,062 shares of the firm’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. 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 Best Buy 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 SEC filing for this sale provides additional information. Corporate insiders own 0.50% of the company’s stock.

Best Buy Stock Performance

Shares of BBY traded down $1.57 during trading hours on Monday, reaching $91.06. 1,811,504 shares of the company traded hands, compared to its average volume of 4,132,243. 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 stock’s fifty day moving average is $88.35 and its 200 day moving average is $77.77. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $96.53. The stock has a market cap of $19.10 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 2.31 and a beta of 1.26.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share 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 business had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.59 billion. During the same period last year, the business earned $1.28 earnings per share. The firm’s revenue for the quarter 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 research analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a $0.96 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $3.84 annualized dividend and a yield of 4.2%. Best Buy’s dividend payout ratio is 63.89%.

Best Buy Profile

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.