15,101 Shares in Best Buy Co., Inc. $BBY Purchased by Alamar Capital Management LLC

Key Points

• Alamar Capital Management bought a new 15,101-share stake in Best Buy during the third quarter, valued at approximately $1.33 million.
• Best Buy’s latest reported quarter beat expectations: EPS was $1.47 versus $1.39 forecast, while revenue of $9.78 billion was up 3.6% year over year. The company also pays an annualized dividend of $3.84 per share, a yield of about 3.9%.
• Analysts’ consensus rating is Hold, with an average price target of $87.35; the article reports shares opened at $99.58. Company insiders also sold shares, including Chairman Richard M. Schulze’s sale of 300,000 shares.

Alamar Capital Management LLC purchased a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,101 shares of the technology retailer's stock, valued at approximately $1,333,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kintegral Advisory LLC boosted its stake in Best Buy by 0.6% in the third quarter. Kintegral Advisory LLC now owns 23,543 shares of the technology retailer's stock worth $2,100,000 after buying an additional 133 shares in the last quarter. Tema ETFs LLC increased its position in Best Buy by 6.5% during 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 during the period. Probity Advisors Inc. lifted its holdings in shares of Best Buy by 3.3% during 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 during the last quarter. B. Metzler seel. Sohn & Co. AG increased its holdings in 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 worth $1,109,000 after buying an additional 151 shares during the period. 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 worth $35,000 after acquiring an additional 169 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

Best Buy Trading Up 0.2%

Shares of BBY stock opened at $99.58 on Friday. The company has a market capitalization of $20.89 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 2.40 and a beta of 1.20. 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 50-day moving average price of $91.57 and a 200 day moving average price of $76.10. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $103.54.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.08. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. The company had revenue of $9.78 billion for the quarter, compared to analysts' expectations of $9.59 billion. During the same quarter in the previous year, the business posted $1.28 EPS. The business's revenue for the quarter was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Research analysts forecast that Best Buy Co., Inc. will post 6.81 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy's dividend payout ratio (DPR) is currently 63.89%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BBY. Wedbush reissued a "buy" rating on shares of Best Buy in a report on Monday, August 24th. Truist Financial set a $100.00 price target on shares of Best Buy in a research report on Thursday, August 27th. Citigroup increased their price objective on Best Buy from $88.00 to $102.00 and gave the company a "neutral" rating in a research note on Friday. Barclays upped their price objective on Best Buy from $77.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Finally, Telsey Advisory Group raised their price target on Best Buy from $90.00 to $95.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $87.35.

Insider Activity

In other news, Chairman Richard M. Schulze sold 300,000 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathleen Scarlett sold 116,062 shares of the business'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 completion of the transaction, the executive vice president directly owned 116,173 shares of the company's stock, valued at approximately $10,705,341.95. This trade represents a 49.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is currently owned by company insiders.

About Best Buy

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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