Compass Wealth Management LLC Buys New Stake in Best Buy Co., Inc. $BBY

Compass Wealth Management LLC purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, HoldingsChannel reports. The firm purchased 13,331 shares of the technology retailer’s stock, valued at approximately $1,176,000.

Several other hedge funds also recently modified their holdings of BBY. Kintegral Advisory LLC raised its holdings in shares of Best Buy by 0.6% during the 3rd quarter. Kintegral Advisory LLC now owns 23,543 shares of the technology retailer’s stock valued at $2,100,000 after purchasing an additional 133 shares in the last quarter. Tema ETFs LLC lifted its stake in shares of Best Buy by 6.5% in the 2nd quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock valued at $179,000 after purchasing an additional 145 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its holdings 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 purchasing an additional 151 shares in the last quarter. Ashurst Perkins Coie Trust Co boosted its holdings in Best Buy by 75.1% in the third quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock worth $35,000 after purchasing an additional 169 shares in the last quarter. Finally, Center for Financial Planning Inc. boosted its holdings in Best Buy by 4.9% in the first quarter. Center for Financial Planning Inc. now owns 4,319 shares of the technology retailer’s stock worth $277,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on BBY shares. Morgan Stanley increased their target price on shares of Best Buy from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, August 28th. Jefferies Financial Group cut Best Buy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $89.00 to $85.00 in a research report on Wednesday, August 5th. Wells Fargo & Company upped their price target on Best Buy from $65.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Loop Capital downgraded Best Buy from a “buy” rating to a “hold” rating and set a $82.00 price target for the company. in a research note on Monday, July 13th. Finally, DA Davidson raised Best Buy from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Best Buy presently has a consensus rating of “Hold” and a consensus price target of $85.90.

Best Buy Price Performance

NYSE BBY opened at $99.78 on Friday. 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 company has a fifty day simple moving average of $89.08 and a 200 day simple moving average of $78.44. The company has a market cap of $20.93 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.35 and a beta of 1.26. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $99.92.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. The business had revenue of $9.78 billion for the quarter, compared to analyst estimates 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 last year, the business posted $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, September 17th. Best Buy’s dividend payout ratio is 63.89%.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard Schulze sold 300,000 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total transaction of $27,753,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owned 116,173 shares in the company, valued at approximately $10,705,341.95. This represents a 49.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.50% of the stock is owned by corporate insiders.

About Best Buy

Best Buy Co, Inc is a specialty retailer of technology products and services headquartered in Richfield, Minnesota. The company sells consumer electronics, computing and mobile products, entertainment products, appliances, furniture, and related accessories through its retail stores, websites, and other sales channels.

Best Buy also provides technology-related services, including product installation, repair, technical support, delivery, and in-home consultation. Its services are offered through brands and operations such as Geek Squad, while the company also provides membership and protection programs designed to support customers after purchase.

The company serves customers primarily in the United States and Canada.