Best Buy Co., Inc. $BBY Shares Newly Bought by Pullen Investment Management LLC

Pullen Investment Management LLC acquired a new stake in Best Buy Co., Inc. (NYSE:BBY) in the third quarter, HoldingsChannel reports. The institutional investor acquired 21,842 shares of the technology retailer’s stock, valued at approximately $1,927,000.

A number of other hedge funds have also recently bought and sold shares of the business. Kintegral Advisory LLC increased its holdings in Best Buy by 0.6% during the 3rd quarter. Kintegral Advisory LLC now owns 23,543 shares of the technology retailer’s stock worth $2,100,000 after purchasing an additional 133 shares during the last quarter. Tema ETFs LLC raised its position in shares of Best Buy by 6.5% in the 2nd quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock valued at $179,000 after purchasing an additional 145 shares in the last quarter. Probity Advisors Inc. raised its position in shares of Best Buy by 3.3% in the 3rd quarter. Probity Advisors Inc. now owns 4,657 shares of the technology retailer’s stock valued at $411,000 after purchasing an additional 149 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Best Buy by 1.0% during 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 buying an additional 151 shares during the last quarter. Finally, 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 valued at $35,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analysts Set New Price Targets

BBY has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research report on Friday, August 28th. Telsey Advisory Group upped their price target on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Jefferies Financial Group downgraded shares of Best Buy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $89.00 to $85.00 in a research note on Wednesday, August 5th. Morgan Stanley increased their price objective on shares of Best Buy from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 28th. Finally, Piper Sandler raised their price objective on shares of Best Buy from $77.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and an average price target of $85.90.

Best Buy Stock Performance

Shares of BBY stock opened at $99.85 on Monday. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $100.58. The company has a market cap of $20.94 billion, a P/E ratio of 16.61, a PEG ratio of 2.50 and a beta of 1.26. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $89.34 and a two-hundred day moving average of $78.69.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.08. The firm had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, analysts anticipate that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, September 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.8%. Best Buy’s payout ratio is currently 63.89%.

Insider Activity at Best Buy

In related news, EVP Kathleen Scarlett sold 116,062 shares of the 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 directly owned 116,173 shares of the company’s stock, valued at $10,705,341.95. This represents a 49.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard Schulze sold 300,000 shares of the business’s stock in a transaction 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 disclosure for this sale is available in the SEC filing. Insiders own 0.50% of the company’s stock.

Best Buy Company 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.