Best Buy Co., Inc. $BBY Shares Sold by Ethic Inc.

Ethic Inc. lessened its stake in Best Buy Co., Inc. (NYSE:BBY) by 35.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,376 shares of the technology retailer’s stock after selling 8,880 shares during the period. Ethic Inc.’s holdings in Best Buy were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 138 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in Best Buy during the 2nd quarter worth approximately $26,000. CYBER HORNET ETFs LLC acquired a new position in Best Buy during the second quarter worth approximately $33,000. MUFG Securities EMEA plc purchased a new stake in Best Buy in the second quarter valued at approximately $38,000. Finally, Maseco LLP acquired a new stake in shares of Best Buy in the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the topic of a number of recent research reports. Piper Sandler lifted their target price on shares of Best Buy from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Argus reaffirmed a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Guggenheim reiterated a “buy” rating and set a $90.00 target price on shares of Best Buy in a research note on Wednesday, November 26th. Jefferies Financial Group lowered their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Finally, The Goldman Sachs Group reduced their price objective on Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Nine research 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 data from MarketBeat, Best Buy currently has an average rating of “Hold” and an average price target of $84.11.

Insider Buying and Selling

In other Best Buy 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 sale, the chairman directly owned 11,451,911 shares in the company, valued at approximately $965,510,616.41. The trade was a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,534,993 shares of company stock valued at $126,626,855 over the last three months. 0.47% of the stock is currently owned by company insiders.

Best Buy Trading Up 3.3%

NYSE BBY opened at $69.14 on Friday. The stock has a market capitalization of $14.49 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.70 and a beta of 1.41. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $91.68. The firm has a 50-day moving average price of $75.27 and a 200 day moving average price of $73.51. 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 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. The company had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be given a $0.95 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $3.80 annualized dividend and a yield of 5.5%. Best Buy’s dividend payout ratio is presently 125.83%.

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.