Chicago Partners Investment Group LLC Buys 5,252 Shares of Best Buy Co., Inc. $BBY

Chicago Partners Investment Group LLC increased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 27.7% during the third quarter, Holdings Channel reports. The fund owned 24,179 shares of the technology retailer’s stock after acquiring an additional 5,252 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Best Buy were worth $2,415,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BBY. Optimist Retirement Group LLC lifted its holdings in shares of Best Buy by 1.0% in the third quarter. Optimist Retirement Group LLC now owns 40,108 shares of the technology retailer’s stock valued at $3,539,000 after purchasing an additional 414 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of Best Buy during the third quarter valued at $3,168,000. Provenance Wealth Advisors LLC purchased a new position in shares of Best Buy during the third quarter valued at $70,000. Oregon Public Employees Retirement Fund raised its position in Best Buy by 0.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 24,306 shares of the technology retailer’s stock valued at $2,145,000 after buying an additional 200 shares during the period. Finally, Gallacher Capital Management LLC acquired a new position in Best Buy during the third quarter valued at $320,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 0.2%

Best Buy stock opened at $99.58 on Friday. 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 firm has a fifty day moving average price of $91.57 and a two-hundred day moving average price of $76.10. The firm has a market cap of $20.89 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 2.40 and a beta of 1.20. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $103.54.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (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 in the previous year, the firm posted $1.28 EPS. The business’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. As a group, analysts forecast that Best Buy Co., Inc. will post 6.81 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Thursday, September 17th. Best Buy’s dividend payout ratio is presently 63.89%.

Insider Buying and Selling at Best Buy

In other Best Buy news, EVP Kathleen Scarlett sold 116,062 shares of the business’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 of the company’s stock, valued at approximately $10,705,341.95. The trade was a 49.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard M. Schulze sold 300,000 shares of the firm’s 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. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BBY shares. Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a research note on Sunday, October 11th. Guggenheim lifted their target price on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Jefferies Financial Group downgraded Best Buy from a “buy” rating to a “hold” rating and dropped their target price for the company from $89.00 to $85.00 in a report on Wednesday, August 5th. Wells Fargo & Company increased their price target 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. Finally, Truist Financial set a $100.00 price target on shares of Best Buy in a report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Best Buy has a consensus rating of “Hold” and a consensus target price of $87.35.

Best Buy Company Profile

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.