16,780 Shares in Best Buy Co., Inc. $BBY Bought by Brown Lisle Cummings Inc.

Key Points

• Brown Lisle Cummings Inc. bought 16,780 Best Buy shares worth approximately $1.48 million in the third quarter. Institutional investors collectively own 80.96% of the company.
• Best Buy reported quarterly earnings of $1.47 per share, exceeding estimates of $1.39, while revenue rose 3.6% year over year to $9.78 billion. The company also declared a quarterly dividend of $0.96 per share, implying a 4.1% annualized yield.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $85.65, below its reported opening price of $92.87. Two insiders also sold substantial stakes, including a combined 416,062 shares.

Brown Lisle Cummings Inc. purchased a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,780 shares of the technology retailer's stock, valued at approximately $1,481,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Kintegral Advisory LLC boosted its stake in Best Buy by 0.6% during the 3rd quarter. Kintegral Advisory LLC now owns 23,543 shares of the technology retailer's stock valued at $2,100,000 after acquiring an additional 133 shares during the last quarter. Tema ETFs LLC grew its holdings in Best Buy by 6.5% during the 2nd quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer's stock worth $179,000 after acquiring an additional 145 shares in the last quarter. B. Metzler seel. Sohn & Co. AG grew its holdings in 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 worth $1,109,000 after acquiring an additional 151 shares in the last quarter. Ashurst Perkins Coie Trust Co increased its position in shares of Best Buy by 75.1% in the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer's stock worth $35,000 after purchasing an additional 169 shares during the last quarter. Finally, Center for Financial Planning Inc. increased its position in shares of Best Buy by 4.9% in the 1st quarter. Center for Financial Planning Inc. now owns 4,319 shares of the technology retailer's stock worth $277,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 80.96% of the company's stock.

Best Buy Stock Performance

Shares of BBY opened at $92.87 on Friday. The stock has a market capitalization of $19.48 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 2.31 and a beta of 1.26. The business's fifty day moving average price is $88.18 and its 200 day moving average price is $77.49. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.41. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $96.53.

Best Buy (NYSE:BBY - Get Free Report) last released 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. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The firm had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.59 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. The firm'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. Equities research analysts forecast 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. Stockholders of record on Thursday, September 17th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Thursday, September 17th. Best Buy's dividend payout ratio (DPR) is presently 63.89%.

Insider Activity

In related news, EVP Kathleen Scarlett sold 116,062 shares of the 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 sale, the executive vice president owned 116,173 shares in the company, valued at $10,705,341.95. This represents a 49.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 300,000 shares of the 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 disclosure for this sale is available in the SEC filing. Insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Loop Capital lowered shares of Best Buy from a "buy" rating to a "hold" rating and set a $82.00 target price on the stock. in a research note on Monday, July 13th. Barclays lifted their price target on Best Buy from $77.00 to $85.00 and gave the stock a "buy" rating in a research note on Friday, August 28th. Citigroup boosted their price objective on Best Buy from $79.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 13th. Guggenheim boosted their price objective on Best Buy from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, August 28th. Finally, Jefferies Financial Group cut Best Buy from a "buy" rating to a "hold" rating and cut their price objective for the company from $89.00 to $85.00 in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $85.65.

Best Buy Profile

Best Buy Co, Inc NYSE: BBY is a specialty retailer of technology products and services. The company sells consumer electronics, computers and tablets, mobile phones, appliances, entertainment products, smart-home devices, gaming equipment and related accessories through its stores and digital platforms.

Best Buy also provides technology services through Geek Squad, including product installation, setup, repair, troubleshooting and technical support. Its operations include retail stores, e-commerce, delivery and fulfillment services, as well as membership and protection offerings.

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