Bryn Mawr Trust Advisors LLC Purchases New Shares in Best Buy Co., Inc. $BBY

Bryn Mawr Trust Advisors LLC acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,117 shares of the technology retailer’s stock, valued at approximately $452,000.

Several other institutional investors have also recently modified their holdings of the stock. Asset Dedication LLC purchased a new stake in Best Buy in the 3rd quarter valued at approximately $27,000. Clark Wealth Partners acquired a new stake in Best Buy during the 3rd quarter valued at $29,000. Ashurst Perkins Coie Trust Co increased its position in Best Buy by 75.1% during the third quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock worth $35,000 after buying an additional 169 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in Best Buy by 313.9% during the third quarter. Farmers & Merchants Investments Inc. now owns 447 shares of the technology retailer’s stock worth $39,000 after buying an additional 339 shares in the last quarter. Finally, Aberdeen Wealth Management LLC purchased a new position in Best Buy during the second quarter worth $38,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In other news, EVP Kathleen Scarlett sold 116,062 shares of the company’s 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Richard M. 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 transaction of $27,753,000.00. The SEC filing for this sale provides additional information. 0.50% of the stock is currently owned by company insiders.

Key Headlines Impacting Best Buy

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy’s fresh 52-week high reflects strong recent momentum. One analysis considers whether the stock has room to rise further, while other coverage points to future cash flow and valuation measures as reasons it may still be undervalued. Best Buy hits a fresh high Best Buy stock looks cheap based on future cash flow Is Best Buy undervalued?
• Positive Sentiment: Fresh analyst support and attention to BBY’s value appeal may help reinforce buying interest. Separate coverage also presents Best Buy as a potential dividend-stock candidate. Best Buy gets fresh analyst support Why Best Buy may be a dividend stock
• Neutral Sentiment: Two reports say Best Buy price targets were raised to $95 and $102. The increases signal improved analyst expectations, but both targets are below the recent share price, potentially limiting near-term upside according to those estimates. Price target raised to $95 Price target raised to $102

Analysts Set New Price Targets

A number of analysts recently commented on BBY shares. Guggenheim increased their price objective on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 28th. The Goldman Sachs Group lifted their price objective on Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research report on Friday, August 28th. Weiss Ratings downgraded shares of Best Buy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, October 27th. Morgan Stanley upped 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. Finally, Telsey Advisory Group raised their price target on shares of Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $87.35.

Best Buy Stock Down 2.0%

BBY stock opened at $104.13 on Wednesday. The company has a 50 day moving average price of $92.52 and a two-hundred day moving average price of $76.48. 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 has a market capitalization of $21.84 billion, a P/E ratio of 15.72, a PEG ratio of 2.66 and a beta of 1.20. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $106.83.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.08. The business 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 business’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Announces Dividend

The firm 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 3.7%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy’s dividend payout ratio (DPR) is presently 63.89%.

About Best Buy

Best Buy is a retailer of consumer technology products and services. Its offerings include computers and mobile devices, televisions and home theater equipment, major appliances, and related accessories, sold through stores and digital channels. The company also provides technology support and installation services through Geek Squad, including help with device setup, repairs, and home technology systems. Best Buy serves customers in the United States and Canada. Founded in 1966 as Sound of Music, the company adopted the Best Buy name in 1983.