Edmp Inc. Purchases Shares of 7,996 Best Buy Co., Inc. $BBY

Edmp Inc. purchased a new stake in Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,996 shares of the technology retailer’s stock, valued at approximately $605,000.

Several other large investors have also made changes to their positions in BBY. LVW Advisors LLC grew its holdings in Best Buy by 3.9% in the 3rd quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock valued at $275,000 after buying an additional 137 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 138 shares during the period. Panagora Asset Management Inc. grew its stake in shares of Best Buy by 1.5% in the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock worth $639,000 after acquiring an additional 144 shares during the last quarter. GAMMA Investing LLC increased its position in Best Buy by 2.1% during the third quarter. GAMMA Investing LLC now owns 7,220 shares of the technology retailer’s stock worth $546,000 after acquiring an additional 150 shares during the period. Finally, Capital Investment Advisors LLC raised its stake in Best Buy by 0.8% during the 2nd quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer’s stock valued at $1,278,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on BBY shares. JPMorgan Chase & Co. raised their price target on shares of Best Buy from $97.00 to $99.00 in a research report on Tuesday, November 25th. Jefferies Financial Group reduced their target price on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Wedbush reissued a “neutral” rating and set a $75.00 target price on shares of Best Buy in a research report on Thursday, November 20th. The Goldman Sachs Group lowered their price target on Best Buy from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Finally, Daiwa Capital Markets raised their price objective on Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, November 28th. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $84.11.

Best Buy Stock Down 1.4%

Shares of BBY opened at $66.91 on Friday. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $75.55 and a two-hundred day moving average price of $73.52. The stock has a market cap of $14.02 billion, a price-to-earnings ratio of 22.16, a P/E/G ratio of 1.70 and a beta of 1.42. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $91.68.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The business had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.Best Buy’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Equities analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Tuesday, December 16th. Best Buy’s payout ratio is currently 125.83%.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 74,553 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the completion of the sale, the chairman owned 11,451,911 shares in the company, valued at $965,510,616.41. This trade represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 1,534,993 shares of company stock valued at $126,626,855. 0.47% of the stock is currently owned by corporate insiders.

Best Buy Company Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.