Best Buy Co., Inc. $BBY Position Lifted by Howard Capital Management LLC

Howard Capital Management LLC boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 179.6% in the third quarter, Holdings Channel reports. The firm owned 77,770 shares of the technology retailer’s stock after purchasing an additional 49,959 shares during the quarter. Howard Capital Management LLC’s holdings in Best Buy were worth $6,862,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in BBY. MV Capital Management Inc. acquired a new position in shares of Best Buy in the 4th quarter worth approximately $25,000. Ashurst Perkins Coie Trust Co lifted its position in shares of Best Buy by 75.1% during the 3rd 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. Bayban acquired a new stake in Best Buy in the 4th quarter valued at $33,000. Aberdeen Wealth Management LLC acquired a new stake in Best Buy in the 2nd quarter valued at $38,000. Finally, Maseco LLP bought a new stake in Best Buy in the first quarter valued at $37,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Price Performance

NYSE BBY traded down $1.30 during trading hours on Friday, reaching $92.87. 3,397,133 shares of the company’s stock were exchanged, compared to its average volume of 3,108,064. The firm has a fifty day moving average of $88.18 and a 200-day moving average of $77.49. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $96.53. The stock has a market cap of $19.48 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 2.35 and a beta of 1.26. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36.

Best Buy (NYSE:BBY) last issued 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 firm had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, equities research analysts predict that Best Buy Co., Inc. will post 6.81 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid 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 4.1%. Best Buy’s dividend payout ratio (DPR) is 63.89%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BBY. Wedbush reiterated a “buy” rating on shares of Best Buy in a research note on Monday, August 24th. Barclays lifted their price objective on Best Buy from $77.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 28th. The Goldman Sachs Group boosted their target price on shares of Best Buy from $62.00 to $71.00 and gave the company a “sell” rating in a research note on Friday, August 28th. Weiss Ratings raised shares of Best Buy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Loop Capital cut shares of Best Buy from a “buy” rating to a “hold” rating and set a $82.00 target price for the company. in a research report on Monday, July 13th. One equities research 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 given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.65.

Insiders Place Their Bets

In related news, EVP Kathleen Scarlett sold 116,062 shares of Best Buy stock in a transaction dated 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 directly owned 116,173 shares of the company’s stock, valued at $10,705,341.95. The trade was a 49.98% decrease in their ownership of the stock. The transaction was disclosed in a filing 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. Company insiders own 0.50% of the company’s stock.

Best Buy Company 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.