Krilogy Financial LLC Purchases 7,831 Shares of Best Buy Co., Inc. $BBY

Krilogy Financial LLC increased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 255.0% during the 3rd quarter, Holdings Channel reports. The firm owned 10,902 shares of the technology retailer’s stock after buying an additional 7,831 shares during the period. Krilogy Financial LLC’s holdings in Best Buy were worth $886,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BBY. Contravisory Investment Management Inc. purchased a new stake in Best Buy in the 3rd quarter worth approximately $86,000. Sage Capital Advisors llc bought a new stake in shares of Best Buy in the 3rd quarter worth approximately $1,835,000. Steel Grove Capital Advisors LLC increased its stake in shares of Best Buy by 3.1% during the third quarter. Steel Grove Capital Advisors LLC now owns 27,636 shares of the technology retailer’s stock valued at $2,439,000 after buying an additional 842 shares during the period. Sax Wealth Advisors LLC purchased a new position in shares of Best Buy during the third quarter valued at approximately $692,000. Finally, Stegent Equity Advisors Inc. purchased a new position in shares of Best Buy during the third quarter valued at approximately $1,264,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Down 1.4%

BBY traded down $1.30 on Friday, hitting $92.87. The company had a trading volume of 3,397,133 shares, compared to its average volume of 3,108,064. The stock has a fifty day simple moving average of $88.18 and a 200-day simple moving average of $77.49. 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 $19.48 billion, a P/E ratio of 15.45, a P/E/G ratio of 2.35 and a beta of 1.26. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $96.53.

Best Buy (NYSE:BBY) last posted its earnings results 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 firm had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.59 billion. During the same quarter in the prior year, the business earned $1.28 EPS. The business’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 analysts expect that Best Buy Co., Inc. will post 6.81 EPS 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 given a dividend of $0.96 per share. 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 payout ratio is currently 63.89%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BBY. Citigroup upped their target price on Best Buy from $79.00 to $88.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Best Buy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Morgan Stanley boosted their price objective 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. The Goldman Sachs Group boosted their price objective on shares of Best Buy from $62.00 to $71.00 and gave the company a “sell” rating in a research report on Friday, August 28th. Finally, UBS Group restated a “neutral” rating and issued a $90.00 price objective (up from $86.00) on shares of Best Buy in a report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Best Buy currently has an average rating of “Hold” and an average target price of $85.65.

Insider Activity at Best Buy

In related news, Chairman Richard Schulze sold 300,000 shares of the company’s 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kathleen Scarlett sold 116,062 shares of the 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 completion of the transaction, 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 SEC filing for this sale provides additional information. 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.