34,333 Shares in Best Buy Co., Inc. $BBY Bought by Clear Trail Advisors LLC

Clear Trail Advisors LLC acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,333 shares of the technology retailer’s stock, valued at approximately $2,298,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Best Buy by 2.4% during the third quarter. Vanguard Group Inc. now owns 23,947,415 shares of the technology retailer’s stock valued at $1,810,904,000 after purchasing an additional 552,360 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Best Buy by 46.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 142,288 shares of the technology retailer’s stock valued at $10,760,000 after purchasing an additional 44,989 shares during the last quarter. CWM LLC increased its stake in shares of Best Buy by 272.6% in the 3rd quarter. CWM LLC now owns 183,842 shares of the technology retailer’s stock valued at $13,902,000 after purchasing an additional 134,508 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Best Buy by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,754,844 shares of the technology retailer’s stock worth $132,701,000 after buying an additional 39,026 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Best Buy by 155.9% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 157,400 shares of the technology retailer’s stock worth $11,903,000 after buying an additional 95,900 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. UBS Group raised their price objective on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Piper Sandler reissued a “buy” rating on shares of Best Buy in a report on Wednesday, March 4th. Citigroup raised their price target on shares of Best Buy from $67.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. JPMorgan Chase & Co. lowered shares of Best Buy from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $99.00 to $76.00 in a report on Monday, February 2nd. Finally, Morgan Stanley lowered their price objective on shares of Best Buy from $76.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 4th. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.20.

Best Buy Price Performance

Shares of NYSE:BBY opened at $63.98 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $84.99. The firm has a market cap of $13.38 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.55 and a beta of 1.46. The firm’s fifty day moving average is $65.42 and its 200-day moving average is $71.93.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.13. The business had revenue of $13.81 billion during the quarter, compared to analyst estimates of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.Best Buy’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Sell-side analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 24th will be paid a $0.96 dividend. This is an increase from Best Buy’s previous quarterly dividend of $0.95. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, March 24th. Best Buy’s payout ratio is presently 76.19%.

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.