Best Buy Co., Inc. $BBY Stock Holdings Boosted by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 38.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 974,109 shares of the technology retailer’s stock after acquiring an additional 272,783 shares during the period. Russell Investments Group Ltd. owned about 0.46% of Best Buy worth $80,120,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BBY. Asset Dedication LLC purchased a new stake in Best Buy in the 3rd quarter worth approximately $27,000. Clark Wealth Partners bought a new stake in Best Buy in the third quarter valued at $29,000. Entrust Financial LLC bought a new position in Best Buy in the 3rd quarter worth $31,000. Ashurst Perkins Coie Trust Co boosted its stake in shares of Best Buy by 75.1% during the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock valued at $35,000 after purchasing an additional 169 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its position in shares of Best Buy by 313.9% during the third quarter. Farmers & Merchants Investments Inc. now owns 447 shares of the technology retailer’s stock valued at $39,000 after buying an additional 339 shares during the period. 80.96% of the stock is owned by institutional investors.

Best Buy Stock Performance

Shares of NYSE:BBY traded up $0.59 during midday trading on Friday, reaching $104.00. 1,575,001 shares of the company’s stock traded hands, compared to its average volume of 2,826,361. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.41 and a current ratio of 1.12. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $106.83. The company has a market cap of $21.81 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 2.58 and a beta of 1.20. The stock has a 50 day moving average of $93.64 and a 200 day moving average of $77.05.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.08. The business had revenue of $9.78 billion during the quarter, compared to analyst estimates of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. Best Buy’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.81 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy’s payout ratio is 63.89%.

Analyst Ratings Changes

Several analysts have commented on the stock. Truist Financial set a $100.00 price objective on shares of Best Buy in a report on Thursday, August 27th. The Goldman Sachs Group upped their price objective on shares of Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a report on Friday, August 28th. Bank of America started coverage on shares of Best Buy in a report on Monday, August 3rd. They set an “underperform” rating and a $80.00 target price for the company. Evercore set a $100.00 price objective on Best Buy in a research note on Tuesday, October 27th. Finally, Citigroup lifted their price target on Best Buy from $88.00 to $102.00 and gave the stock a “neutral” rating in a research report on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Best Buy presently has a consensus rating of “Hold” and a consensus price target of $87.33.

Insider Buying and Selling

In other Best Buy news, Chairman Richard Schulze sold 300,000 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total transaction of $27,753,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kathleen Scarlett sold 116,062 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $92.15, for a total value of $10,695,113.30. Following the completion of the transaction, the executive vice president owned 116,173 shares in the company, valued at approximately $10,705,341.95. This trade represents a 49.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.50% of the company’s stock.

Best Buy Profile

Best Buy is a retailer of consumer technology products and services. Its offerings include computers and mobile devices, televisions and home theater equipment, major appliances, and related accessories, sold through stores and digital channels. The company also provides technology support and installation services through Geek Squad, including help with device setup, repairs, and home technology systems. Best Buy serves customers in the United States and Canada. Founded in 1966 as Sound of Music, the company adopted the Best Buy name in 1983.