Best Buy Co., Inc. $BBY Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 63.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,093 shares of the technology retailer’s stock after purchasing an additional 115,978 shares during the quarter. Cerity Partners LLC owned about 0.14% of Best Buy worth $22,617,000 at the end of the most recent reporting period.

Other hedge funds have 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% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 138 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new stake in Best Buy during the second quarter valued at $26,000. CYBER HORNET ETFs LLC acquired a new position in shares of Best Buy in the second quarter worth about $33,000. MUFG Securities EMEA plc purchased a new stake in shares of Best Buy during the 2nd quarter worth about $38,000. Finally, Maseco LLP acquired a new stake in Best Buy in the second quarter valued at approximately $39,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BBY has been the topic of a number of research analyst reports. The Goldman Sachs Group dropped their price target on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Loop Capital lifted their price objective on Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Evercore ISI reduced their target price on Best Buy from $85.00 to $80.00 and set an “in-line” rating for the company in a report on Tuesday, December 9th. Argus reaffirmed a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Finally, Truist Financial set a $77.00 price objective on Best Buy in a research note on Wednesday, December 17th. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $83.89.

Insider Activity

In related news, Chairman Richard M. Schulze sold 74,553 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the completion of the sale, the chairman directly owned 11,451,911 shares of the company’s stock, valued at approximately $965,510,616.41. This trade represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 1,534,993 shares of company stock worth $126,626,855. 0.47% of the stock is currently owned by company insiders.

Best Buy Trading Down 1.7%

Shares of BBY opened at $70.61 on Friday. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $91.68. The firm has a market capitalization of $14.80 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.82 and a beta of 1.41. The firm has a 50-day moving average price of $74.02 and a 200 day moving average price of $73.61. 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 (NYSE:BBY) last posted its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The company had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the business posted $1.26 EPS. Best Buy’s revenue was up 2.4% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were issued a dividend of $0.95 per share. The ex-dividend date was Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.4%. Best Buy’s dividend payout ratio is currently 125.83%.

About Best Buy

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.