US Bancorp DE Sells 13,398 Shares of Best Buy Co., Inc. $BBY

US Bancorp DE trimmed its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,073 shares of the technology retailer’s stock after selling 13,398 shares during the period. US Bancorp DE owned about 0.10% of Best Buy worth $16,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Best Buy by 2.4% in 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. State Street Corp boosted its holdings in shares of Best Buy by 3.8% in the 2nd quarter. State Street Corp now owns 13,631,429 shares of the technology retailer’s stock valued at $927,753,000 after buying an additional 496,215 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Best Buy by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 7,038,506 shares of the technology retailer’s stock valued at $472,495,000 after buying an additional 69,533 shares in the last quarter. Invesco Ltd. increased its holdings in Best Buy by 15.8% during the second quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock worth $305,351,000 after buying an additional 621,863 shares during the last quarter. Finally, AQR Capital Management LLC raised its position 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 worth $235,064,000 after acquiring an additional 991,141 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of NYSE BBY opened at $61.93 on Friday. The firm has a market cap of $12.98 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 1.48 and a beta of 1.44. The business’s 50 day moving average is $67.09 and its 200-day moving average is $73.01. The company has a current ratio of 1.05, a quick ratio of 0.26 and a debt-to-equity ratio of 0.44. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $90.86.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Telsey Advisory Group restated an “outperform” rating and set a $95.00 price objective on shares of Best Buy in a research note on Tuesday, February 24th. Truist Financial reduced their price target on Best Buy from $77.00 to $73.00 and set a “hold” rating for the company in a report on Friday, January 16th. JPMorgan Chase & Co. lowered Best Buy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $99.00 to $76.00 in a research note on Monday, February 2nd. Jefferies Financial Group cut their price objective on Best Buy from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Finally, HSBC decreased their target price on Best Buy from $96.00 to $85.00 in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Best Buy currently has an average rating of “Hold” and an average price target of $80.05.

Key Headlines Impacting Best Buy

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Telsey Advisory Group reiterated an Outperform rating on BBY, signaling at least one major shop has confidence in Best Buy’s longer-term playbook. Telsey Reiterates Outperform
• Positive Sentiment: GoPro and ASUS launched a co-branded ProArt laptop that will be sold exclusively at Best Buy in the U.S., providing a small but tangible product-differentiation and traffic driver in the near term. GoPro/ASUS ProArt at Best Buy
• Neutral Sentiment: Macro/AI uncertainty is a market-wide theme — commentary notes AI could both help and hurt sectors; this keeps discretionary retailers like Best Buy exposed to sentiment swings around tech spending. AI disruption looms over markets
• Neutral Sentiment: Analyst-model coverage (Zacks) highlights the key metrics investors will watch in BBY’s Q4 — same-store sales, AURs, services/Total Tech attach and margin drivers — useful context but no consensus surprise implied yet. Zacks Analyst Projections for BBY Q4
• Neutral Sentiment: Consensus analyst recommendation sits at “Hold,” reflecting mixed views across the sell-side and limited near-term conviction. Consensus “Hold” for Best Buy
• Negative Sentiment: HSBC lowered its price target on BBY from $96 to $85, signaling reduced optimism on Best Buy’s recovery momentum and contributing to downward pressure on the stock. HSBC cuts BBY price target
• Negative Sentiment: Wedbush trimmed its target to $70 (from $80) while staying Neutral, reflecting cautious near-term expectations and signaling limited upside in the near term. Wedbush cautious on Best Buy
• Negative Sentiment: UBS expects a tough fiscal Q4 with sales down ~2% amid intensifying competition — this guidance/expectation directly pressures near-term revenue and margins, a likely catalyst for today’s selloff. UBS sees tough Q4 for Best Buy

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.