Best Buy Co., Inc. $BBY Stock Position Cut by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. trimmed its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 16.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 479,597 shares of the technology retailer’s stock after selling 95,704 shares during the quarter. Eurizon Capital SGR S.p.A. owned about 0.23% of Best Buy worth $41,919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Asset Dedication LLC purchased a new stake in shares of Best Buy during the third quarter valued at approximately $27,000. Clark Wealth Partners bought a new position in Best Buy during the 3rd quarter valued at about $29,000. Entrust Financial LLC purchased a new stake in Best Buy in the third quarter worth approximately $31,000. Ashurst Perkins Coie Trust Co boosted its stake 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 worth $35,000 after buying an additional 169 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of Best Buy by 313.9% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 447 shares of the technology retailer’s stock valued at $39,000 after purchasing an additional 339 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BBY has been the topic of a number of recent research reports. Truist Financial set a $100.00 target price on Best Buy in a report on Thursday, August 27th. Bank of America assumed coverage on Best Buy in a research report on Monday, August 3rd. They issued an “underperform” rating and a $80.00 price target for the company. Cfra downgraded Best Buy from a “hold” rating to a “sell” rating and set a $87.00 price objective on the stock. in a research note on Thursday. Wedbush reaffirmed a “buy” rating on shares of Best Buy in a research report on Monday, August 24th. Finally, Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $87.33.

Best Buy Price Performance

NYSE:BBY opened at $104.00 on Friday. The business’s 50-day simple moving average is $93.64 and its two-hundred day simple moving average is $77.05. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $106.83. The stock has a market cap of $21.81 billion, a PE ratio of 15.30, a P/E/G ratio of 2.58 and a beta of 1.20. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 0.36.

Best Buy (NYSE:BBY) last released its earnings results 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. The firm had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.28 earnings per share. 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 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy’s payout ratio is 63.89%.

Insiders Place Their Bets

In related news, EVP Kathleen Scarlett sold 116,062 shares of the company’s stock in a transaction on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard Schulze sold 300,000 shares of the firm’s stock in a transaction 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. 0.50% of the stock is currently owned by corporate insiders.

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.