16,780 Shares in Best Buy Co., Inc. $BBY Purchased by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 16,780 shares of the technology retailer’s stock, valued at approximately $1,481,000.

Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Best Buy in the second quarter worth $1,932,812,000. Bank of New York Mellon Corp acquired a new position in shares of Best Buy during the second quarter valued at $174,893,000. Hsbc Holdings PLC boosted its holdings in shares of Best Buy by 104.1% during the fourth 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 during the period. KBC Group NV boosted its holdings in shares of Best Buy by 50.5% during the first 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 during the period. Finally, Deutsche Bank AG bought a new position in shares of Best Buy during the second quarter worth about $116,003,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In related news, EVP Kathleen Scarlett sold 116,062 shares of the company’s stock in a transaction dated 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 owned 116,173 shares of the company’s stock, valued at $10,705,341.95. This represents a 49.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Richard Schulze sold 300,000 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total transaction of $27,753,000.00. The SEC filing for this sale provides additional information. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Best Buy from $65.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Wedbush reiterated a “buy” rating on shares of Best Buy in a research report on Monday, August 24th. Morgan Stanley boosted their target price on shares of Best Buy from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 28th. Barclays upped their target price on shares of Best Buy from $77.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Finally, Jefferies Financial Group cut shares of Best Buy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $89.00 to $85.00 in a research report on Wednesday, August 5th. 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 given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.65.

Best Buy Stock Down 1.4%

Shares of Best Buy stock opened at $92.87 on Friday. The business’s fifty day moving average price is $88.18 and its two-hundred day moving average price is $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 company has a market capitalization of $19.48 billion, a P/E ratio of 15.45, a PEG ratio of 2.31 and a beta of 1.26. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $96.53.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) 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 analyst estimates of $9.59 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The firm’s quarterly 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 forecast that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Thursday, September 17th. Best Buy’s payout ratio is currently 63.89%.

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.