5,007 Best Buy Co., Inc. $BBY Shares Sold by Kestra Investment Management LLC

Kestra Investment Management LLC reduced its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 16.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,183 shares of the technology retailer’s stock after selling 5,007 shares during the quarter. Kestra Investment Management LLC’s holdings in Best Buy were worth $2,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kintegral Advisory LLC grew its holdings in shares of Best Buy by 0.6% during the third 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 last quarter. Tema ETFs LLC increased its position in shares of Best Buy by 6.5% during the second quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock worth $179,000 after purchasing an additional 145 shares in the last quarter. Probity Advisors Inc. lifted its holdings in shares of Best Buy by 3.3% in the 3rd quarter. Probity Advisors Inc. now owns 4,657 shares of the technology retailer’s stock valued at $411,000 after purchasing an additional 149 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Best Buy by 1.0% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 14,613 shares of the technology retailer’s stock valued at $1,109,000 after purchasing an additional 151 shares during the last quarter. Finally, Ashurst Perkins Coie Trust Co lifted its holdings in shares of Best Buy by 75.1% in the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock valued at $35,000 after purchasing an additional 169 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Price Performance

Shares of NYSE BBY opened at $104.13 on Wednesday. The stock has a fifty day moving average price of $92.52 and a 200 day moving average price of $76.48. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $106.83. 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 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 (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.08. The company had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $9.59 billion. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. Best Buy’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders 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 3.7%. The ex-dividend date was Thursday, September 17th. Best Buy’s payout ratio is 63.89%.

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

Analyst Upgrades and Downgrades

BBY has been the subject of a number of research analyst reports. Piper Sandler upped their target price on Best Buy from $77.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Telsey Advisory Group lifted their price target on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Weiss Ratings cut Best Buy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, October 27th. Bank of America started coverage on Best Buy in a research note on Monday, August 3rd. They issued an “underperform” rating and a $80.00 price objective for the company. Finally, Morgan Stanley increased their price objective on Best Buy from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $87.35.

Insider Transactions at Best Buy

In related news, EVP Kathleen Scarlett sold 116,062 shares of the firm’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 in the company, valued at $10,705,341.95. This trade represents a 49.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard M. Schulze sold 300,000 shares of Best Buy stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total value of $27,753,000.00. The disclosure for this sale is available in the SEC filing. Insiders own 0.50% of the company’s stock.

Best Buy Profile

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.