274,206 Shares in Best Buy Co., Inc. $BBY Bought by Barlow Wealth Partners LLC

Key Points

• Barlow Wealth Partners bought 274,206 Best Buy shares worth approximately $24.2 million, making the retailer 2.6% of its portfolio. Institutional investors collectively own 80.96% of Best Buy.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $85.65, despite several firms raising their targets and issuing “Buy” or “Outperform” ratings.
• Best Buy reported quarterly EPS of $1.47, exceeding expectations, while revenue rose 3.6% year over year to $9.78 billion. The company also pays a quarterly dividend of $0.96 per share, representing a 4.1% annualized yield.

Barlow Wealth Partners LLC purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 274,206 shares of the technology retailer's stock, valued at approximately $24,196,000. Best Buy comprises 2.6% of Barlow Wealth Partners LLC's investment portfolio, making the stock its 19th largest holding. Barlow Wealth Partners LLC owned 0.13% of Best Buy at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. MV Capital Management Inc. purchased a new stake in Best Buy in the fourth quarter worth $25,000. Bayban purchased a new stake in shares of Best Buy during the 4th quarter valued at approximately $33,000. 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 valued at $35,000 after buying an additional 169 shares in the last quarter. Maseco LLP bought a new stake in Best Buy during the 1st quarter valued at $37,000. Finally, Aberdeen Wealth Management LLC bought a new stake in Best Buy during the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 80.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised their price target on Best Buy from $65.00 to $85.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 11th. Wall Street Zen raised Best Buy from a "hold" rating to a "buy" rating in a report on Sunday, October 11th. Telsey Advisory Group upped their price target on Best Buy from $90.00 to $95.00 and gave the company an "outperform" rating in a research report on Tuesday, August 4th. Truist Financial set a $100.00 price target on shares of Best Buy in a report on Thursday, August 27th. Finally, Barclays increased their price target on shares of Best Buy from $77.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $85.65.

Best Buy Trading Up 5.6%

Shares of Best Buy stock opened at $94.08 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. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $96.53. The firm has a market cap of $19.73 billion, a PE ratio of 15.65, a PEG ratio of 2.23 and a beta of 1.26. The company has a 50 day simple moving average of $87.96 and a two-hundred day simple moving average of $77.38.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.08. The firm had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Analysts expect that Best Buy Co., Inc. will post 6.81 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. Stockholders of record on Thursday, September 17th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, September 17th. This represents a $3.84 annualized dividend and a dividend yield of 4.1%. Best Buy's dividend payout ratio is 63.89%.

Insider Activity

In other Best Buy news, Chairman Richard M. Schulze sold 300,000 shares of the company's 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathleen Scarlett sold 116,062 shares of the company's stock in a transaction that occurred on 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 directly owned 116,173 shares of the company's stock, valued at approximately $10,705,341.95. This 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 corporate insiders.

Best Buy Company 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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