22,483 Shares in Best Buy Co., Inc. $BBY Purchased by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services LLC purchased 22,483 Best Buy shares worth approximately $1.98 million in the third quarter. Institutional investors collectively own 80.96% of the company.
• Best Buy reported quarterly EPS of $1.47, beating estimates of $1.39, while revenue reached $9.78 billion and rose 3.6% year over year.
• The company pays a quarterly dividend of $0.96, equivalent to an annualized $3.84 payout and a 3.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $85.90, below the reported share price of $99.85.

Diversify Advisory Services LLC bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 22,483 shares of the technology retailer's stock, valued at approximately $1,984,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BBY. Kintegral Advisory LLC increased its position 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 purchasing an additional 133 shares during the last quarter. Tema ETFs LLC grew its stake in shares of Best Buy by 6.5% during the second quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer's stock valued at $179,000 after buying an additional 145 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Best Buy by 1.0% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 14,613 shares of the technology retailer's stock valued at $1,109,000 after purchasing an additional 151 shares during the period. Ashurst Perkins Coie Trust Co grew its stake in 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 acquiring an additional 169 shares in the last quarter. Finally, Center for Financial Planning Inc. raised its position in Best Buy by 4.9% during the 1st quarter. Center for Financial Planning Inc. now owns 4,319 shares of the technology retailer's stock valued at $277,000 after purchasing an additional 200 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Price Performance

Shares of NYSE BBY opened at $99.85 on Friday. 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 stock has a fifty day moving average price of $89.34 and a 200 day moving average price of $78.59. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $100.58. The company has a market cap of $20.94 billion, a PE ratio of 16.61, a P/E/G ratio of 2.49 and a beta of 1.26.

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 (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.08. The company had revenue of $9.78 billion for the quarter, compared to analysts' expectations of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. The firm's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a $0.96 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $3.84 annualized dividend and a yield of 3.8%. Best Buy's dividend payout ratio is 63.89%.

Insider Buying and Selling at Best Buy

In other Best Buy news, EVP Kathleen Scarlett sold 116,062 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 116,173 shares in the company, valued at approximately $10,705,341.95. This trade represents a 49.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 300,000 shares of Best Buy 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. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Jefferies Financial Group downgraded shares of Best Buy from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $89.00 to $85.00 in a research note on Wednesday, August 5th. UBS Group reiterated a "neutral" rating and set a $90.00 price target (up from $86.00) on shares of Best Buy in a research note on Friday, August 28th. Wall Street Zen raised shares of Best Buy from a "hold" rating to a "buy" rating in a report on Sunday, October 11th. Truist Financial set a $100.00 price objective on shares of Best Buy in a research report on Thursday, August 27th. Finally, Bank of America started coverage on shares of Best Buy in a research note on Monday, August 3rd. They issued an "underperform" rating and a $80.00 price target on the stock. One research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $85.90.

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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