56,691 Shares of Best Buy Co., Inc. $BBY Bought by Vest Financial LLC

Key Points

• Vest Financial LLC acquired 56,691 Best Buy shares in the third quarter, worth approximately $5 million. Institutional investors and hedge funds collectively own 80.96% of the company.
• Best Buy reported quarterly EPS of $1.47, exceeding the $1.39 consensus estimate, while revenue reached $9.78 billion and grew 3.6% year over year.
• The company declared a quarterly dividend of $0.96, equivalent to $3.84 annually and a 3.8% yield. Analysts maintain an overall “Hold” rating with an average price target of $85.90, below the reported $99.85 share price.

Vest Financial LLC purchased a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 56,691 shares of the technology retailer's stock, valued at approximately $5,002,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisors L.P. boosted its position in shares of Best Buy by 2.2% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 202,773 shares of the technology retailer's stock worth $17,893,000 after buying an additional 4,442 shares during the period. PFS Partners LLC bought a new stake in shares of Best Buy in the 3rd quarter worth about $66,000. Eagle Rock Investment Company LLC acquired a new stake in Best Buy during the third quarter valued at approximately $12,706,000. Axxcess Wealth Management LLC bought a new position in Best Buy during the third quarter worth $843,000. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Best Buy by 145.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 32,448 shares of the technology retailer's stock worth $2,863,000 after buying an additional 19,253 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Best Buy Stock Up 0.0%

Shares of Best Buy stock opened at $99.85 on Friday. The stock has a market cap of $20.94 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 2.49 and a beta of 1.26. The business has a fifty day simple moving average of $89.34 and a 200 day simple moving average of $78.59. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $100.58.

Best Buy (NYSE:BBY - Get Free Report) last issued its 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. The firm had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.59 billion. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Research analysts predict that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Dividend Announcement

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

Insider Activity at Best Buy

In related news, EVP Kathleen Scarlett sold 116,062 shares of Best Buy 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 sale, the executive vice president owned 116,173 shares of the company's stock, valued at approximately $10,705,341.95. This trade represents a 49.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard M. Schulze sold 300,000 shares of the firm'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 transaction of $27,753,000.00. The disclosure for this sale is available in the SEC filing. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BBY. Loop Capital downgraded Best Buy from a "buy" rating to a "hold" rating and set a $82.00 price target on the stock. in a report on Monday, July 13th. Morgan Stanley lifted their price target on shares of Best Buy from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Friday, August 28th. Wall Street Zen upgraded Best Buy from a "hold" rating to a "buy" rating in a research note on Sunday, October 11th. Jefferies Financial Group lowered shares of 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 report on Wednesday, August 5th. Finally, Evercore set a $95.00 target price on shares of Best Buy in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average 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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