Aberdeen Group plc Sells 15,063 Shares of Best Buy Co., Inc. $BBY

Aberdeen Group plc cut its position in Best Buy Co., Inc. (NYSE:BBY) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 238,950 shares of the technology retailer’s stock after selling 15,063 shares during the period. Aberdeen Group plc owned about 0.11% of Best Buy worth $17,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its position 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 bought a new stake in shares of Best Buy during the third quarter valued at approximately $32,000. CYBER HORNET ETFs LLC bought a new position in shares of Best Buy during the second quarter worth $33,000. MUFG Securities EMEA plc purchased a new position in Best Buy during the second quarter valued at $38,000. Finally, Bogart Wealth LLC increased its holdings in Best Buy by 202.0% in the 2nd 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. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BBY. Wedbush reiterated a “neutral” rating and issued a $75.00 target price on shares of Best Buy in a research report on Thursday, November 20th. Evercore reduced their price target on shares of Best Buy from $80.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, February 3rd. Daiwa Securities Group increased their price objective on shares of Best Buy from $76.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, November 28th. Barclays reduced their target price on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Finally, Telsey Advisory Group lifted their price target on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $80.32.

Best Buy Stock Performance

Shares of Best Buy stock opened at $66.99 on Thursday. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average is $68.41 and its two-hundred day moving average is $73.24. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $91.68. The company has a market capitalization of $14.04 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.58 and a beta of 1.44.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The firm had revenue of $9.67 billion during 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 business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a yield of 5.7%. Best Buy’s payout ratio is 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.