81,349 Shares in Best Buy Co., Inc. $BBY Bought by Davidson Capital Management Inc.

Key Points

• Davidson Capital Management acquired 81,349 Best Buy shares worth approximately $7.18 million in the third quarter, making BBY its 18th-largest holding. Institutional investors and hedge funds collectively own 80.96% of the company.
• Best Buy reported quarterly earnings of $1.47 per share, exceeding expectations of $1.39, while revenue rose 3.6% year over year to $9.78 billion. The company issued fiscal 2027 EPS guidance of $6.70–$6.90.
• Shares opened at $94.08, near the 52-week high of $96.53, while analysts maintain a consensus “Hold” rating and an average price target of $85.65. Best Buy also offers an annualized dividend of $3.84 per share, yielding about 4.1%.

Davidson Capital Management Inc. purchased a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 81,349 shares of the technology retailer's stock, valued at approximately $7,178,000. Best Buy accounts for approximately 1.2% of Davidson Capital Management Inc.'s holdings, making the stock its 18th largest holding.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Best Buy during the second quarter worth approximately $1,932,812,000. Bank of New York Mellon Corp bought a new position in Best Buy during the 2nd quarter worth $174,893,000. Hsbc Holdings PLC raised its holdings in Best Buy by 104.1% in the 4th quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer's stock valued at $135,685,000 after acquiring an additional 1,030,544 shares in the last quarter. Deutsche Bank AG acquired a new position in Best Buy in the 2nd quarter valued at $116,003,000. Finally, KBC Group NV raised its holdings in Best Buy by 50.5% in the 1st quarter. KBC Group NV now owns 1,584,803 shares of the technology retailer's stock valued at $101,745,000 after acquiring an additional 531,998 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Best Buy Stock Performance

NYSE BBY opened at $94.08 on Friday. The firm's 50 day simple moving average is $87.96 and its 200 day simple moving average is $77.38. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 2.23 and a beta of 1.26. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36. 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 data 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 net margin of 3.01% and a return on equity of 48.14%. The business had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.59 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The company's 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. As a group, research analysts expect that Best Buy Co., Inc. will post 6.81 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm 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. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy's dividend payout ratio (DPR) is currently 63.89%.

Wall Street Analyst Weigh In

BBY has been the subject of a number of recent analyst reports. Citigroup upped their target price on Best Buy from $79.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday, August 13th. KeyCorp restated a "sector weight" rating on shares of Best Buy in a research report on Monday, June 22nd. UBS Group reaffirmed a "neutral" rating and issued a $90.00 price target (up from $86.00) on shares of Best Buy in a research note on Friday, August 28th. Guggenheim upped their price objective on shares of Best Buy from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. Finally, Telsey Advisory Group upped their price objective 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. One 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's stock. Based on data from MarketBeat, Best Buy presently has a consensus rating of "Hold" and a consensus target price of $85.65.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard Schulze sold 300,000 shares of Best Buy stock in a transaction 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 SEC, which is available at this hyperlink. Also, EVP Kathleen Scarlett sold 116,062 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 116,173 shares of the company's stock, valued at $10,705,341.95. This trade represents a 49.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.50% of the company's stock.

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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