Best Buy Co., Inc. $BBY Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. trimmed its position in Best Buy Co., Inc. (NYSE:BBY) by 30.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,709 shares of the technology retailer’s stock after selling 37,011 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Best Buy were worth $6,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. increased its position in Best Buy by 69.3% during the 3rd 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 acquired a new position in Best Buy during the third quarter valued at approximately $32,000. CYBER HORNET ETFs LLC acquired a new position in Best Buy during the second quarter valued at approximately $33,000. MUFG Securities EMEA plc purchased a new stake in Best Buy during the second quarter worth approximately $38,000. Finally, Zions Bancorporation National Association UT increased its position in shares of Best Buy by 1,385.4% in the third quarter. Zions Bancorporation National Association UT now owns 609 shares of the technology retailer’s stock worth $46,000 after acquiring an additional 568 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Trading Up 0.5%

NYSE BBY opened at $62.90 on Tuesday. The stock has a market cap of $13.15 billion, a P/E ratio of 12.48, a PEG ratio of 1.55 and a beta of 1.46. The company’s fifty day simple moving average is $66.11 and its 200-day simple moving average is $72.33. The company has a current ratio of 1.11, a quick ratio of 0.43 and a debt-to-equity ratio of 0.39. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $84.99.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.13. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The business had revenue of $13.81 billion during the quarter, compared to analyst estimates of $13.96 billion. During the same period last year, the business earned $2.58 EPS. The business’s revenue was down 1.0% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th will be paid a dividend of $0.96 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.95. This represents a $3.84 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Tuesday, March 24th. Best Buy’s payout ratio is 75.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler reissued a “buy” rating on shares of Best Buy in a research note on Wednesday, March 4th. Wall Street Zen cut shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Evercore reiterated a “buy” rating and issued a $75.00 price target on shares of Best Buy in a report on Wednesday, March 4th. Morgan Stanley cut their price objective on Best Buy from $76.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 4th. Finally, Telsey Advisory Group reduced their price objective on Best Buy from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $76.20.

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.