20,793 Shares of Best Buy Co., Inc. $BBY Purchased by Sage Capital Advisors llc

Key Points

• Sage Capital Advisors purchased 20,793 Best Buy shares worth approximately $1.84 million in the third quarter. Institutional investors and hedge funds collectively own 80.96% of BBY.
• Best Buy reported quarterly earnings of $1.47 per share, exceeding estimates by $0.08, while revenue rose 3.6% year over year to $9.78 billion. The company also pays a quarterly dividend of $0.96 per share, yielding about 4.4% annually.
• BBY recently traded at $88.20, above its 200-day moving average of $76.79, but analysts maintain a consensus “Hold” rating with an average price target of $85.65. Two insiders sold a combined 416,062 shares in September.

Sage Capital Advisors llc purchased a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 20,793 shares of the technology retailer's stock, valued at approximately $1,835,000.

A number of other hedge funds have also recently added to or reduced their stakes in BBY. BlackRock Inc. bought a new position in Best Buy during the second quarter valued at approximately $1,932,812,000. Bank of New York Mellon Corp acquired a new stake in Best Buy in the second quarter valued at approximately $174,893,000. Deutsche Bank AG bought a new stake in Best Buy in the second quarter worth approximately $116,003,000. Legal & General Group Plc bought a new stake in Best Buy in the second quarter worth approximately $83,427,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Best Buy during the 2nd quarter worth $79,627,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Best Buy Stock Performance

BBY traded up $1.22 on Tuesday, hitting $88.20. The company had a trading volume of 902,853 shares, compared to its average volume of 4,151,861. The stock has a market cap of $18.50 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 2.17 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.41. The company's fifty day moving average price is $87.55 and its 200 day moving average price is $76.79. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $96.53.

Best Buy (NYSE:BBY - Get Free Report) last announced 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 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 the consensus estimate of $9.59 billion. During the same quarter last year, the company posted $1.28 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Equities analysts predict that Best Buy Co., Inc. will post 6.82 earnings per share 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 issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy's dividend payout ratio is currently 63.89%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Best Buy from $62.00 to $71.00 and gave the company a "sell" rating in a report on Friday, August 28th. UBS Group reiterated a "neutral" rating and issued a $90.00 price objective (up from $86.00) on shares of Best Buy in a report on Friday, August 28th. Loop Capital cut shares of Best Buy from a "buy" rating to a "hold" rating and set a $82.00 price objective for the company. in a report on Monday, July 13th. Telsey Advisory Group increased their target price on shares of Best Buy from $90.00 to $95.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. Finally, DA Davidson upgraded Best Buy from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 24th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat, Best Buy presently has an average rating of "Hold" and a consensus price target of $85.65.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard Schulze sold 300,000 shares of the firm's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total value of $27,753,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kathleen Scarlett sold 116,062 shares of Best Buy stock in a transaction on Wednesday, September 23rd. The stock was 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 in the company, valued at $10,705,341.95. This trade represents a 49.98% decrease in their position. The SEC filing for this sale provides additional information. 0.50% of the stock is currently owned by corporate insiders.

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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