Alps Advisors Inc. Cuts Position in Best Buy Co., Inc. $BBY

Alps Advisors Inc. trimmed its stake in Best Buy Co., Inc. (NYSE:BBY) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 323,335 shares of the technology retailer’s stock after selling 14,268 shares during the period. Alps Advisors Inc. owned 0.15% of Best Buy worth $24,451,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BBY. Harbor Capital Advisors Inc. raised its holdings in Best Buy by 69.3% in 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 in the last quarter. Root Financial Partners LLC purchased a new position in shares of Best Buy in the 3rd quarter worth approximately $32,000. CYBER HORNET ETFs LLC purchased a new position in shares of Best Buy in the 2nd quarter worth approximately $33,000. MUFG Securities EMEA plc purchased a new stake in Best Buy during the second quarter valued at approximately $38,000. Finally, Bogart Wealth LLC lifted its position in Best Buy by 202.0% during the second quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock valued at $41,000 after acquiring an additional 404 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

BBY has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on Best Buy from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Friday, January 16th. JPMorgan Chase & Co. lowered Best Buy from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $99.00 to $76.00 in a research report on Monday, February 2nd. Daiwa Securities Group increased their price target on Best Buy from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, November 28th. Wall Street Zen downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Jefferies Financial Group cut their price objective on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Best Buy has a consensus rating of “Hold” and a consensus price target of $81.05.

Best Buy Stock Up 3.3%

NYSE:BBY opened at $70.42 on Friday. 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 company’s fifty day moving average price is $69.67 and its 200-day moving average price is $73.24. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $91.68. The firm has a market capitalization of $14.76 billion, a P/E ratio of 23.32, a PEG ratio of 1.68 and a beta of 1.44.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating the consensus estimate 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 net margin of 1.54% and a return on equity of 50.02%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) is 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.