Evergreen Capital Management LLC Buys Shares of 9,196 Best Buy Co., Inc. $BBY

Evergreen Capital Management LLC purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 9,196 shares of the technology retailer’s stock, valued at approximately $703,000.

A number of other hedge funds have also recently modified their holdings of the company. Pinnacle Financial Partners Inc raised its stake in Best Buy by 10.3% during the third quarter. Pinnacle Financial Partners Inc now owns 45,431 shares of the technology retailer’s stock worth $3,435,000 after purchasing an additional 4,240 shares during the period. Csenge Advisory Group purchased a new stake in shares of Best Buy during the 3rd quarter valued at approximately $265,000. Impact Capital Partners LLC grew its position in Best Buy by 8.6% in the third quarter. Impact Capital Partners LLC now owns 6,242 shares of the technology retailer’s stock worth $472,000 after acquiring an additional 493 shares during the period. Procyon Advisors LLC increased its stake in Best Buy by 51.6% during the third quarter. Procyon Advisors LLC now owns 21,315 shares of the technology retailer’s stock worth $1,612,000 after acquiring an additional 7,251 shares during the last quarter. Finally, Kera Capital Partners Inc. increased its stake in Best Buy by 93.4% during the third quarter. Kera Capital Partners Inc. now owns 7,260 shares of the technology retailer’s stock worth $549,000 after acquiring an additional 3,506 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 74,553 shares of the stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $84.31, for a total value of $6,285,563.43. Following the sale, the chairman owned 11,451,911 shares of the company’s stock, valued at $965,510,616.41. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 709,157 shares of company stock worth $59,379,260. 0.59% of the stock is owned by corporate insiders.

Best Buy Trading Down 2.9%

NYSE BBY opened at $65.79 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 1.72 and a beta of 1.41. The firm has a 50 day simple moving average of $72.32 and a 200-day simple moving average of $73.55. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $91.68.

Best Buy (NYSE:BBY) last released 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. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The company had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the business earned $1.26 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Tuesday, December 16th. Best Buy’s payout ratio is presently 125.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BBY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, October 8th. The Goldman Sachs Group lowered their target price on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Evercore ISI reduced their price target on shares of Best Buy from $85.00 to $80.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 9th. Wall Street Zen cut shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Truist Financial dropped their target price on shares of Best Buy from $77.00 to $73.00 and set a “hold” rating for the company in a report on Friday, January 16th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Best Buy currently has a consensus rating of “Hold” and a consensus price target of $83.37.

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.