Best Buy Co., Inc. $BBY Stock Holdings Increased by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its Best Buy holdings by 940.5% in the third quarter, adding 136,758 shares to reach 151,299 shares valued at about $13.35 million. Institutional investors and hedge funds collectively own 80.96% of the stock.
• Analyst sentiment is mixed but leans toward Hold: MarketBeat reports 12 Hold, six Buy, one Strong Buy, and two Sell ratings, with an average price target of $87.35.
• Best Buy beat quarterly earnings and revenue estimates, reporting EPS of $1.47 and revenue of $9.78 billion; revenue grew 3.6% year over year. The company also declared a $0.96 quarterly dividend, equivalent to a 3.9% yield.

Kestra Advisory Services LLC grew its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 940.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,299 shares of the technology retailer's stock after buying an additional 136,758 shares during the period. Kestra Advisory Services LLC owned 0.07% of Best Buy worth $13,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Clark Wealth Partners purchased a new position in shares of Best Buy in the 3rd quarter valued at about $29,000. Ashurst Perkins Coie Trust Co lifted its stake in Best Buy by 75.1% during the third quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer's stock worth $35,000 after purchasing an additional 169 shares during the last quarter. Aberdeen Wealth Management LLC purchased a new stake in Best Buy during the second quarter worth approximately $38,000. Farmers & Merchants Investments Inc. boosted its holdings in Best Buy by 313.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 447 shares of the technology retailer's stock valued at $39,000 after purchasing an additional 339 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its holdings in Best Buy by 65.9% in the first quarter. Hillsdale Investment Management Inc. now owns 730 shares of the technology retailer's stock valued at $47,000 after purchasing an additional 290 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBY has been the topic of several recent analyst reports. Loop Capital lowered shares of Best Buy from a "buy" rating to a "hold" rating and set a $82.00 price target on the stock. in a research note on Monday, July 13th. Telsey Advisory Group boosted 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. Bank of America assumed coverage on shares of Best Buy in a report on Monday, August 3rd. They issued an "underperform" rating and a $80.00 target price for the company. Citigroup increased their target price on shares of Best Buy from $88.00 to $102.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Barclays lifted their price target on shares of Best Buy from $77.00 to $85.00 and gave the stock a "buy" rating in a research note on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $87.35.

Best Buy Stock Performance

Shares of BBY stock opened at $99.58 on Monday. The stock's 50-day moving average price is $91.57 and its 200 day moving average price is $76.10. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $20.89 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 2.49 and a beta of 1.20. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $103.54.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.08. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. The company had revenue of $9.78 billion during the quarter, compared to analysts' expectations of $9.59 billion. During the same period last year, the firm earned $1.28 EPS. The firm's revenue for the quarter 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, equities research analysts forecast 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 paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.9%. 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, Chairman Richard M. Schulze sold 300,000 shares of Best Buy stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total value of $27,753,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kathleen Scarlett sold 116,062 shares of the business's stock in a transaction on 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 $10,705,341.95. This represents a 49.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.50% of the stock is owned by corporate insiders.

About Best Buy

Best Buy is a retailer of consumer technology products and services. Its offerings include computers and mobile devices, televisions and home theater equipment, major appliances, and related accessories, sold through stores and digital channels.

The company also provides technology support and installation services through Geek Squad, including help with device setup, repairs, and home technology systems. Best Buy serves customers in the United States and Canada.

Founded in 1966 as Sound of Music, the company adopted the Best Buy name in 1983.

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