Bailard Inc. Sells 11,303 Shares of Best Buy Co., Inc. $BBY

Bailard Inc. reduced its stake in Best Buy Co., Inc. (NYSE:BBY) by 52.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,249 shares of the technology retailer’s stock after selling 11,303 shares during the period. Bailard Inc.’s holdings in Best Buy were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BBY. Vanguard Group Inc. grew its position in Best Buy by 1.8% in the second quarter. Vanguard Group Inc. now owns 23,395,055 shares of the technology retailer’s stock valued at $1,570,510,000 after acquiring an additional 419,312 shares during the period. State Street Corp boosted its stake in shares of Best Buy by 3.8% in the 2nd quarter. State Street Corp now owns 13,631,429 shares of the technology retailer’s stock valued at $927,753,000 after purchasing an additional 496,215 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Best Buy by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,038,506 shares of the technology retailer’s stock worth $472,495,000 after purchasing an additional 69,533 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Best Buy by 15.8% in the 2nd quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock worth $305,351,000 after purchasing an additional 621,863 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Best Buy by 39.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,501,617 shares of the technology retailer’s stock worth $235,064,000 after purchasing an additional 991,141 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 0.7%

NYSE BBY opened at $67.02 on Friday. The stock has a market capitalization of $14.04 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $91.68. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. The stock has a fifty day moving average of $71.92 and a 200-day moving average of $73.45.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.09. The business had revenue of $9.67 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, equities research 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 given a dividend of $0.95 per share. The ex-dividend date was Tuesday, December 16th. This represents a $3.80 annualized dividend and a dividend yield of 5.7%. Best Buy’s payout ratio is currently 125.83%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wall Street Zen cut shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. BNP Paribas Exane reduced their target price on Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, November 26th. Barclays dropped their price target on Best Buy from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, October 8th. Finally, UBS Group raised their target price on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Nine investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.37.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 74,553 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total value of $6,285,563.43. Following the transaction, the chairman directly owned 11,451,911 shares in the company, valued at $965,510,616.41. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 334,993 shares of company stock worth $28,233,849 over the last ninety days. Insiders own 0.47% of the company’s stock.

Best Buy 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.