Vanguard Group Inc. Buys 552,360 Shares of Best Buy Co., Inc. $BBY

Vanguard Group Inc. increased its position in Best Buy Co., Inc. (NYSE:BBY) by 2.4% during the third quarter, HoldingsChannel.com reports. The firm owned 23,947,415 shares of the technology retailer’s stock after acquiring an additional 552,360 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of Best Buy worth $1,810,904,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its stake 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 worth $25,000 after buying an additional 138 shares in the last quarter. Root Financial Partners LLC bought a new position in Best Buy in the 3rd quarter valued at approximately $32,000. CYBER HORNET ETFs LLC bought a new position in Best Buy in the 2nd quarter valued at approximately $33,000. MUFG Securities EMEA plc purchased a new stake in Best Buy during the 2nd quarter valued at $38,000. Finally, True Wealth Design LLC increased its holdings in shares of Best Buy by 775.3% in the 2nd quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock worth $43,000 after purchasing an additional 566 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BBY shares. Piper Sandler upped their price target on Best Buy from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Truist Financial dropped their price target on shares of Best Buy from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Friday, January 16th. BNP Paribas Exane lowered their price objective on shares of Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 26th. The Goldman Sachs Group cut 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 report on Wednesday, November 26th. Finally, JPMorgan Chase & Co. lowered shares of Best Buy from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $99.00 to $76.00 in a research note on Monday, February 2nd. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and an average price target of $80.32.

Best Buy Price Performance

BBY opened at $65.85 on Friday. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $91.20. The stock has a market cap of $13.80 billion, a P/E ratio of 21.80, a PEG ratio of 1.59 and a beta of 1.44. The business has a fifty day moving average of $68.24 and a 200 day moving average of $73.19. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44.

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

Best Buy Announces Dividend

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