13,331 Shares in Best Buy Co., Inc. $BBY Acquired by Compass Wealth Management LLC

Key Points

• Compass Wealth Management acquired 13,331 Best Buy shares worth approximately $1.18 million in the third quarter, while institutional investors and hedge funds collectively own 80.96% of the company.
• Best Buy shares opened at $99.78, near their 12-month high, after the company reported quarterly EPS of $1.47 and revenue of $9.78 billion, both above analyst expectations. Revenue increased 3.6% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $85.90. Best Buy also pays a quarterly dividend of $0.96 per share, equivalent to a 3.8% annualized yield.

Compass Wealth Management LLC acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,331 shares of the technology retailer's stock, valued at approximately $1,176,000.

Other large investors also recently added to or reduced their stakes in the company. Clark Wealth Partners purchased a new stake in shares of Best Buy in the third quarter valued at $29,000. Ashurst Perkins Coie Trust Co boosted its position in shares of Best Buy by 75.1% in 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 during the period. Aberdeen Wealth Management LLC acquired a new stake in shares of Best Buy in the second quarter worth $38,000. Maseco LLP purchased a new position in shares of Best Buy during the first quarter valued at $37,000. Finally, Physician Wealth Advisors Inc. grew its holdings in shares of Best Buy by 582.4% during the third quarter. Physician Wealth Advisors Inc. now owns 621 shares of the technology retailer's stock valued at $55,000 after buying an additional 530 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In other news, Chairman Richard M. Schulze sold 300,000 shares of the firm's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total transaction of $27,753,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 value of $10,695,113.30. Following the sale, the executive vice president directly owned 116,173 shares of the company's stock, valued at $10,705,341.95. This trade represents a 49.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Best Buy from $65.00 to $85.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 11th. The Goldman Sachs Group raised 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. Morgan Stanley raised their price objective on Best Buy from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Friday, August 28th. Jefferies Financial Group cut Best Buy from a "buy" rating to a "hold" rating and lowered their target price for the company from $89.00 to $85.00 in a research note on Wednesday, August 5th. Finally, Truist Financial set a $100.00 target price on Best Buy in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $85.90.

Best Buy Trading Up 6.0%

Shares of NYSE:BBY opened at $99.78 on Friday. The firm has a fifty day moving average of $89.08 and a two-hundred day moving average of $78.44. The firm has a market capitalization of $20.93 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.35 and a beta of 1.26. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $99.92. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 0.36.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $9.59 billion. During the same period in the previous year, the company posted $1.28 EPS. Best Buy's revenue was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, equities analysts expect that Best Buy Co., Inc. will post 6.81 EPS 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 given a dividend of $0.96 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.8%. Best Buy's dividend payout ratio (DPR) is presently 63.89%.

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.

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