19,607 Shares of Best Buy Co., Inc. $BBY Bought by Brookstone Capital Management

Key Points

• Brookstone Capital Management initiated a Best Buy position by purchasing 19,607 shares valued at approximately $1.73 million. 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 pays a quarterly dividend of $0.96, equivalent to $3.84 annually and a 3.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of $85.90.

Brookstone Capital Management purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 19,607 shares of the technology retailer's stock, valued at approximately $1,730,000.

Other institutional investors have also recently bought and sold shares of the company. Clark Wealth Partners bought a new position in shares of Best Buy during the 3rd quarter worth $29,000. Ashurst Perkins Coie Trust Co lifted its position in shares of 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 acquiring an additional 169 shares in the last quarter. Aberdeen Wealth Management LLC bought a new position in shares of Best Buy in the second quarter worth $38,000. Hillsdale Investment Management Inc. boosted its holdings in shares of Best Buy by 65.9% in the first quarter. Hillsdale Investment Management Inc. now owns 730 shares of the technology retailer's stock worth $47,000 after acquiring an additional 290 shares during the period. Finally, Elevation Wealth Partners LLC grew its position in shares of Best Buy by 2,120.7% in the second quarter. Elevation Wealth Partners LLC now owns 644 shares of the technology retailer's stock valued at $49,000 after purchasing an additional 615 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

Best Buy Price Performance

BBY stock opened at $97.94 on Tuesday. 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 one year low of $55.10 and a one year high of $100.58. The stock has a market cap of $20.54 billion, a PE ratio of 14.77, a P/E/G ratio of 2.50 and a beta of 1.26. The firm has a 50 day simple moving average of $89.27 and a two-hundred day simple moving average of $74.63.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data 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 net margin of 3.01% and a return on equity of 48.14%. The firm had revenue of $9.78 billion for the quarter, compared to analysts' expectations of $9.59 billion. During the same quarter last year, the company posted $1.28 EPS. The business's quarterly 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, analysts predict that Best Buy Co., Inc. will post 6.81 EPS for the current fiscal 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 paid a $0.96 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.9%. Best Buy's dividend payout ratio is 63.89%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. DA Davidson upgraded Best Buy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 24th. Guggenheim boosted their price objective on shares of Best Buy from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Jefferies Financial Group lowered shares of Best Buy from a "buy" rating to a "hold" rating and reduced their price target for the company from $89.00 to $85.00 in a research report on Wednesday, August 5th. Bank of America assumed coverage on shares of Best Buy in a report on Monday, August 3rd. They issued an "underperform" rating and a $80.00 price target on the stock. Finally, Piper Sandler increased their price objective on Best Buy from $77.00 to $85.00 and gave the stock a "neutral" rating in a research report on Thursday, August 20th. One 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $85.90.

Insider Transactions at Best Buy

In other news, 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 sale, the executive vice president owned 116,173 shares of the company's stock, valued at approximately $10,705,341.95. The trade was a 49.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Richard Schulze sold 300,000 shares of the stock in a transaction on Wednesday, September 16th. The shares were 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.

Best Buy 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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