Best Buy Co., Inc. $BBY Stock Position Increased by First Trust Advisors LP

First Trust Advisors LP increased its position in Best Buy Co., Inc. (NYSE:BBY) by 17.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 675,289 shares of the technology retailer’s stock after acquiring an additional 98,465 shares during the period. First Trust Advisors LP’s holdings in Best Buy were worth $51,065,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its holdings in Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 138 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of Best Buy in the 3rd quarter worth approximately $32,000. CYBER HORNET ETFs LLC bought a new stake in shares of Best Buy in the 2nd quarter worth approximately $33,000. MUFG Securities EMEA plc acquired a new stake in Best Buy during the second quarter valued at approximately $38,000. Finally, Zions Bancorporation National Association UT lifted its stake in Best Buy by 1,385.4% during the third quarter. Zions Bancorporation National Association UT now owns 609 shares of the technology retailer’s stock valued at $46,000 after purchasing an additional 568 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of BBY opened at $63.19 on Thursday. The company has a market capitalization of $13.21 billion, a PE ratio of 12.54, a PEG ratio of 1.60 and a beta of 1.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. The company’s 50 day moving average price is $66.46 and its 200 day moving average price is $72.58. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $84.99.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.13. The company had revenue of $13.81 billion during the quarter, compared to the consensus estimate of $13.96 billion. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 24th will be issued a dividend of $0.96 per share. This is a positive change from Best Buy’s previous quarterly dividend of $0.95. This represents a $3.84 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Tuesday, March 24th. Best Buy’s dividend payout ratio is 76.19%.

Wall Street Analysts Forecast Growth

BBY has been the topic of several recent research reports. Jefferies Financial Group decreased their price target on shares of Best Buy from $94.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, February 9th. Daiwa Securities Group reduced their price objective on Best Buy from $80.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. Guggenheim restated a “buy” rating and issued a $90.00 target price on shares of Best Buy in a report on Wednesday, March 4th. Citigroup boosted their target price on Best Buy from $67.00 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. Finally, DA Davidson set a $78.00 price target on Best Buy in a research report on Thursday, March 5th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $76.20.

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.