Edmp Inc. Invests $605,000 in Best Buy Co., Inc. $BBY

Edmp Inc. purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,996 shares of the technology retailer’s stock, valued at approximately $605,000.

Several other institutional investors have also recently bought and sold shares of BBY. LVW Advisors LLC boosted its stake in Best Buy by 3.9% in the third quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock worth $275,000 after purchasing an additional 137 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings 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 buying an additional 138 shares during the last quarter. Panagora Asset Management Inc. raised its holdings 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 valued at $639,000 after buying an additional 144 shares during the last quarter. GAMMA Investing LLC lifted its position in Best Buy by 2.1% during the 3rd quarter. GAMMA Investing LLC now owns 7,220 shares of the technology retailer’s stock worth $546,000 after buying an additional 150 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its holdings 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 worth $1,278,000 after acquiring an additional 154 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Best Buy from $74.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Guggenheim reissued a “buy” rating and issued a $90.00 price target on shares of Best Buy in a report on Wednesday, November 26th. JPMorgan Chase & Co. upped their price objective on Best Buy from $97.00 to $99.00 in a report on Tuesday, November 25th. UBS Group increased their price objective on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, The Goldman Sachs Group dropped their target price on Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $84.11.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $80.83, for a total value of $40,415,000.00. Following the completion of the sale, the chairman owned 12,486,904 shares of the company’s stock, valued at approximately $1,009,316,450.32. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,534,993 shares of company stock worth $126,626,855 in the last ninety days. 0.47% of the stock is currently owned by insiders.

Best Buy Price Performance

BBY opened at $66.91 on Friday. The company has a fifty day moving average price of $75.55 and a two-hundred day moving average price of $73.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $91.68. The firm has a market capitalization of $14.02 billion, a PE ratio of 22.16, a P/E/G ratio of 1.70 and a beta of 1.42.

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

Best Buy Announces Dividend

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

Best Buy 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.