United Advisor Group LLC Buys 5,306 Shares of Best Buy Co., Inc. $BBY

United Advisor Group LLC purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the third quarter, HoldingsChannel.com reports. The firm purchased 5,306 shares of the technology retailer’s stock, valued at approximately $468,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBY. BlackRock Inc. acquired a new stake in shares of Best Buy during the second quarter valued at about $1,932,812,000. Bank of New York Mellon Corp acquired a new position in shares of Best Buy in the second quarter worth about $174,893,000. Deutsche Bank AG purchased a new position in Best Buy in the second quarter valued at about $116,003,000. KBC Group NV boosted its holdings in Best Buy by 50.5% in the first quarter. KBC Group NV now owns 1,584,803 shares of the technology retailer’s stock valued at $101,745,000 after purchasing an additional 531,998 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Best Buy by 113.4% in the first quarter. Renaissance Technologies LLC now owns 1,449,439 shares of the technology retailer’s stock valued at $93,054,000 after purchasing an additional 770,339 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard Schulze sold 300,000 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total value of $27,753,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kathleen Scarlett sold 116,062 shares of Best Buy 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 completion of the transaction, the executive vice president directly owned 116,173 shares of the company’s stock, valued at $10,705,341.95. This trade represents a 49.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Telsey Advisory Group lifted their price objective on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. DA Davidson upgraded Best Buy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 24th. Wedbush reissued a “buy” rating on shares of Best Buy in a research report on Monday, August 24th. Evercore set a $100.00 price target on shares of Best Buy in a research note on Tuesday, October 27th. Finally, Bank of America started coverage on shares of Best Buy in a report on Monday, August 3rd. They issued an “underperform” rating and a $80.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $87.35.

Best Buy Trading Down 0.0%

NYSE:BBY opened at $99.58 on Monday. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $91.57 and its two-hundred day moving average is $76.10. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $103.54. The company has a market cap of $20.89 billion, a PE ratio of 16.57, a P/E/G ratio of 2.49 and a beta of 1.20.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. The business had revenue of $9.78 billion during 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 business’s quarterly revenue was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, analysts predict that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Dividend Announcement

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

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.