10,000 Shares of Best Buy Co., Inc. $BBY Acquired by DSG Capital Advisors LLC

DSG Capital Advisors LLC acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,000 shares of the technology retailer’s stock, valued at approximately $882,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BBY. Kintegral Advisory LLC boosted its holdings in shares of Best Buy by 0.6% in the 3rd quarter. Kintegral Advisory LLC now owns 23,543 shares of the technology retailer’s stock worth $2,100,000 after purchasing an additional 133 shares during the period. Tema ETFs LLC raised its holdings in Best Buy by 6.5% during the 2nd quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock valued at $179,000 after buying an additional 145 shares during the period. Probity Advisors Inc. lifted its position in Best Buy by 3.3% in the third quarter. Probity Advisors Inc. now owns 4,657 shares of the technology retailer’s stock worth $411,000 after buying an additional 149 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in Best Buy by 1.0% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 14,613 shares of the technology retailer’s stock worth $1,109,000 after buying an additional 151 shares during the last quarter. Finally, Ashurst Perkins Coie Trust Co boosted 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 buying an additional 169 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BBY shares. Wedbush reissued a “buy” rating on shares of Best Buy in a research note on Monday, August 24th. Jefferies Financial Group lowered shares of Best Buy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $89.00 to $85.00 in a report on Wednesday, August 5th. The Goldman Sachs Group lifted their price target on shares of Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research note on Friday, August 28th. Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a report on Sunday, October 11th. Finally, Wells Fargo & Company increased their price objective on shares of Best Buy from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Best Buy presently has an average rating of “Hold” and a consensus price target of $87.35.

Best Buy Stock Performance

BBY stock opened at $104.13 on Wednesday. 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 business’s fifty day simple moving average is $92.52 and its two-hundred day simple moving average is $76.48. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $106.83. The firm has a market cap of $21.84 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 2.66 and a beta of 1.20.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, topping 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 company had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.59 billion. During the same quarter last year, the firm posted $1.28 EPS. The firm’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. Analysts predict that Best Buy Co., Inc. will post 6.81 earnings per share for the current 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 issued a $0.96 dividend. The ex-dividend date was Thursday, September 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.7%. Best Buy’s payout ratio is presently 63.89%.

Insider Buying and Selling

In related news, Chairman Richard 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 legal filing with the SEC, which is available at the SEC website. Also, EVP Kathleen Scarlett sold 116,062 shares of the firm’s 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 transaction, the executive vice president owned 116,173 shares in the company, valued at $10,705,341.95. The trade was a 49.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is currently owned by insiders.

Key Stories Impacting Best Buy

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy’s fresh 52-week high reflects strong recent momentum. One analysis considers whether the stock has room to rise further, while other coverage points to future cash flow and valuation measures as reasons it may still be undervalued. Best Buy hits a fresh high Best Buy stock looks cheap based on future cash flow Is Best Buy undervalued?
• Positive Sentiment: Fresh analyst support and attention to BBY’s value appeal may help reinforce buying interest. Separate coverage also presents Best Buy as a potential dividend-stock candidate. Best Buy gets fresh analyst support Why Best Buy may be a dividend stock
• Neutral Sentiment: Two reports say Best Buy price targets were raised to $95 and $102. The increases signal improved analyst expectations, but both targets are below the recent share price, potentially limiting near-term upside according to those estimates. Price target raised to $95 Price target raised to $102

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.