Best Buy Co., Inc. $BBY Stock Bought by Yousif Capital Management LLC

Key Points

• Yousif Capital Management increased its Best Buy stake by 139.3% in the third quarter, acquiring 35,684 additional shares and bringing its holdings to 61,305 shares valued at approximately $5.41 million. Institutional investors and hedge funds collectively own 80.96% of BBY.
• Best Buy reported quarterly earnings of $1.47 per share, exceeding estimates of $1.39, while revenue rose 3.6% year over year to $9.78 billion. The company also maintains a quarterly dividend of $0.96, equivalent to a 3.8% annual yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $85.90, below BBY’s reported $99.85 share price. Meanwhile, company insiders sold significant stakes, including 300,000 shares sold by Chairman Richard M. Schulze.

Yousif Capital Management LLC grew its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 139.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,305 shares of the technology retailer's stock after purchasing an additional 35,684 shares during the period. Yousif Capital Management LLC's holdings in Best Buy were worth $5,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. B.A. Schrock Wealth Management Inc. acquired a new position in shares of Best Buy in the 3rd quarter worth approximately $2,064,000. Corient Private Wealth LP purchased a new position in shares of Best Buy during the 2nd quarter worth approximately $18,648,000. Munich Reinsurance Co Stock Corp in Munich increased its holdings in Best Buy by 80.0% in the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 92,464 shares of the technology retailer's stock valued at $7,016,000 after purchasing an additional 41,092 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Best Buy in the 2nd quarter valued at approximately $2,734,000. Finally, BlackRock Inc. acquired a new stake in Best Buy in the 2nd quarter valued at approximately $1,932,812,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Price Performance

BBY stock opened at $99.85 on Monday. 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 firm has a market capitalization of $20.94 billion, a P/E ratio of 16.61, a P/E/G ratio of 2.50 and a beta of 1.26. The business's 50-day moving average is $89.34 and its two-hundred day moving average is $78.69. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $100.58.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (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 business had revenue of $9.78 billion during the quarter, compared to analysts' expectations of $9.59 billion. During the same quarter last year, the business posted $1.28 EPS. The business's quarterly revenue 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. Analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were paid a $0.96 dividend. The ex-dividend date was Thursday, September 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.8%. Best Buy's payout ratio is currently 63.89%.

Analysts Set New Price Targets

BBY has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Best Buy from $62.00 to $71.00 and gave the company a "sell" rating in a research report on Friday, August 28th. Citigroup raised their price target on Best Buy from $79.00 to $88.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. UBS Group reaffirmed a "neutral" rating and issued a $90.00 price objective (up from $86.00) on shares of Best Buy in a research note on Friday, August 28th. Wall Street Zen upgraded Best Buy from a "hold" rating to a "buy" rating in a report on Sunday, October 11th. Finally, Guggenheim boosted their price objective on Best Buy from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $85.90.

Insider Buying and Selling

In other Best Buy news, EVP Kathleen Scarlett sold 116,062 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $92.15, for a total value of $10,695,113.30. Following 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. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Richard M. 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 transaction of $27,753,000.00. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is owned by insiders.

Best Buy Company 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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