6,959 Shares in Best Buy Co., Inc. $BBY Acquired by Eagle Harbor Asset Management Inc. ADV

Eagle Harbor Asset Management Inc. ADV bought a new stake in Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,959 shares of the technology retailer’s stock, valued at approximately $614,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in 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 acquired a new stake in shares of Best Buy during the second quarter worth $18,648,000. Munich Reinsurance Co Stock Corp in Munich increased its position in shares of Best Buy by 80.0% during the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 92,464 shares of the technology retailer’s stock worth $7,016,000 after buying an additional 41,092 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Best Buy during the second quarter worth $2,734,000. Finally, BlackRock Inc. bought a new position in Best Buy during the second quarter worth $1,932,812,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 300,000 shares of the 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 SEC, which is available at this hyperlink. Also, EVP Kathleen Scarlett sold 116,062 shares of the firm’s 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 completion of the sale, 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. Insiders own 0.50% of the company’s stock.

Best Buy Stock Up 2.9%

Shares of NYSE BBY opened at $93.81 on Wednesday. The firm has a market cap of $19.67 billion, a PE ratio of 15.61, a P/E/G ratio of 2.28 and a beta of 1.26. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $96.53. The company’s fifty day simple moving average is $88.56 and its 200 day simple moving average is $77.98. 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 (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share 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 firm 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 firm posted $1.28 earnings per share. The business’s 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. As a group, sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders 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 annualized dividend and a dividend yield of 4.1%. Best Buy’s dividend payout ratio (DPR) is currently 63.89%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. DA Davidson upgraded shares of Best Buy from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 24th. UBS Group reiterated a “neutral” rating and set a $90.00 price target (up from $86.00) on shares of Best Buy in a report on Friday, August 28th. The Goldman Sachs Group upped 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. Bank of America initiated coverage on Best Buy in a research note on Monday, August 3rd. They set an “underperform” rating and a $80.00 target price for the company. Finally, Citigroup raised their target price on Best Buy from $79.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Best Buy has a consensus rating of “Hold” and a consensus 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.