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

DSG Capital Advisors LLC purchased a new position in Best Buy Co., Inc. (NYSE:BBY) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 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 recently modified their holdings of BBY. Illinois Municipal Retirement Fund raised its stake in Best Buy by 7.7% in the third quarter. Illinois Municipal Retirement Fund now owns 212,549 shares of the technology retailer’s stock worth $18,755,000 after buying an additional 15,128 shares in the last quarter. Lido Advisors LLC boosted its position in Best Buy by 345.2% during the 3rd quarter. Lido Advisors LLC now owns 53,356 shares of the technology retailer’s stock valued at $4,708,000 after acquiring an additional 41,370 shares in the last quarter. Keybank National Association OH increased its holdings in shares of Best Buy by 37.2% in the 3rd quarter. Keybank National Association OH now owns 20,107 shares of the technology retailer’s stock valued at $1,658,000 after acquiring an additional 5,451 shares during the period. New York Life Investment Management LLC increased its holdings in shares of Best Buy by 70.2% in the 3rd quarter. New York Life Investment Management LLC now owns 89,929 shares of the technology retailer’s stock valued at $7,220,000 after acquiring an additional 37,088 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. purchased a new position in shares of Best Buy in the 3rd quarter valued at $320,000. 80.96% of the stock is currently owned by institutional investors.

Best Buy Stock Performance

Shares of BBY opened at $104.13 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36. The firm has a market cap of $21.84 billion, a PE ratio of 17.33, a P/E/G ratio of 2.66 and a beta of 1.20. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $106.83. The stock has a fifty day moving average price of $92.52 and a 200-day moving average price of $76.48.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the business 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. Equities research analysts predict that Best Buy Co., Inc. will post 6.81 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy’s dividend payout ratio (DPR) is currently 63.89%.

Insider Activity

In other 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 transaction 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. This represents a 49.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 300,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total transaction of $27,753,000.00. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BBY. Barclays boosted their price target on Best Buy from $77.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Wedbush reiterated a “buy” rating on shares of Best Buy in a research note on Monday, August 24th. Truist Financial set a $100.00 target price on Best Buy in a research note on Thursday, August 27th. Wells Fargo & Company boosted their target price on shares of Best Buy from $85.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, November 6th. Finally, Wall Street Zen raised shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. One 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $87.35.

More Best Buy News

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.