New York State Common Retirement Fund Cuts Stock Position in Best Buy Co., Inc. $BBY

New York State Common Retirement Fund cut its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 6.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,727 shares of the technology retailer’s stock after selling 8,000 shares during the quarter. New York State Common Retirement Fund owned 0.05% of Best Buy worth $8,449,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Best Buy by 69.3% in the third 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 in the last quarter. Root Financial Partners LLC acquired a new stake in Best Buy in the third quarter valued at about $32,000. CYBER HORNET ETFs LLC purchased a new stake in Best Buy in the 2nd quarter valued at approximately $33,000. MUFG Securities EMEA plc acquired a new position in Best Buy during the 2nd quarter worth approximately $38,000. Finally, Bogart Wealth LLC raised its stake in shares of Best Buy by 202.0% during the 2nd quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock worth $41,000 after buying an additional 404 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BBY shares. Evercore ISI dropped their price objective on Best Buy from $80.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday. UBS Group boosted their target price on shares of Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Guggenheim reiterated a “buy” rating and issued a $90.00 price target on shares of Best Buy in a report on Wednesday, November 26th. Morgan Stanley reduced their price objective on shares of Best Buy from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Finally, Truist Financial lowered their target price on shares of Best Buy from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Friday, January 16th. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $81.63.

Best Buy Stock Up 4.5%

Shares of NYSE BBY opened at $68.52 on Thursday. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $91.68. The company has a market capitalization of $14.36 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.55 and a beta of 1.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. The firm’s 50-day moving average is $70.11 and its two-hundred day moving average is $73.21.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The business had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period last year, the company posted $1.26 EPS. The company’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. Equities analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) 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.