Sumitomo Mitsui Trust Group Inc. Sells 16,992 Shares of Best Buy Co., Inc. $BBY

Sumitomo Mitsui Trust Group Inc. lowered its position in Best Buy Co., Inc. (NYSE:BBY) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 574,569 shares of the technology retailer’s stock after selling 16,992 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Best Buy worth $43,449,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BBY. Vanguard Group Inc. raised its holdings in shares of Best Buy by 1.8% in the second quarter. Vanguard Group Inc. now owns 23,395,055 shares of the technology retailer’s stock valued at $1,570,510,000 after acquiring an additional 419,312 shares in the last quarter. State Street Corp increased its position in Best Buy by 3.8% during the 2nd quarter. State Street Corp now owns 13,631,429 shares of the technology retailer’s stock valued at $927,753,000 after purchasing an additional 496,215 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Best Buy by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,038,506 shares of the technology retailer’s stock valued at $472,495,000 after purchasing an additional 69,533 shares in the last quarter. Invesco Ltd. lifted its position in shares of Best Buy by 15.8% in the 2nd quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock worth $305,351,000 after purchasing an additional 621,863 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Best Buy by 39.5% during the second quarter. AQR Capital Management LLC now owns 3,501,617 shares of the technology retailer’s stock valued at $235,064,000 after buying an additional 991,141 shares during the period. 80.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BBY has been the subject of several recent research reports. Wall Street Zen lowered Best Buy from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. The Goldman Sachs Group decreased their price target on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Morgan Stanley cut their price objective on shares of Best Buy from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Thursday. Daiwa Capital Markets increased their target price on shares of Best Buy from $76.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, November 28th. Finally, UBS Group lifted their price target on shares of Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Nine 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 MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.58.

Best Buy Stock Performance

Shares of BBY stock opened at $68.09 on Friday. The business has a fifty day moving average of $72.99 and a 200 day moving average of $73.58. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $91.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. The firm has a market capitalization of $14.27 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The company’s 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. As a group, research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, December 16th. Best Buy’s dividend payout ratio is 125.83%.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 74,553 shares of the business’s stock in a transaction on 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 transaction, the chairman directly owned 11,451,911 shares in the company, valued at $965,510,616.41. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,534,993 shares of company stock valued at $126,626,855 in the last quarter. 0.47% of the stock is owned by corporate insiders.

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.