Commerzbank Aktiengesellschaft FI Buys 11,570 Shares of Best Buy Co., Inc. $BBY

Commerzbank Aktiengesellschaft FI lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 114.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,695 shares of the technology retailer’s stock after purchasing an additional 11,570 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Best Buy were worth $1,641,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BBY. Norges Bank purchased a new stake in Best Buy in the second quarter worth $171,851,000. AQR Capital Management LLC lifted 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 valued at $235,064,000 after buying an additional 991,141 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Best Buy by 61.9% during the 3rd quarter. Pacer Advisors Inc. now owns 1,998,886 shares of the technology retailer’s stock worth $151,156,000 after acquiring an additional 764,064 shares during the period. Invesco Ltd. increased its holdings in 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 acquiring an additional 621,863 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in Best Buy by 855.5% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 686,644 shares of the technology retailer’s stock valued at $46,094,000 after acquiring an additional 614,779 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on BBY shares. Barclays cut their target price on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, January 8th. Citigroup raised their price objective on shares of Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Daiwa Capital Markets lifted their price objective on shares of Best Buy from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, November 28th. Evercore ISI dropped their target price on Best Buy from $85.00 to $80.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a research report on Wednesday. Nine equities research 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.com, Best Buy has a consensus rating of “Hold” and a consensus price target of $83.37.

Best Buy Stock Down 0.0%

BBY stock opened at $67.06 on Monday. The company’s 50 day moving average is $71.75 and its 200 day moving average is $73.44. The stock has a market cap of $14.05 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 1.70 and a beta of 1.41. The company has a current ratio of 1.05, a quick ratio of 0.26 and a debt-to-equity ratio of 0.44. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $91.68.

Best Buy (NYSE:BBY) last announced its 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 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%. Best Buy’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Sell-side analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were given a $0.95 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $3.80 annualized dividend and a yield of 5.7%. Best Buy’s payout ratio is 125.83%.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 93,293 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $84.10, for a total transaction of $7,845,941.30. Following the sale, the chairman owned 11,589,298 shares in the company, valued at $974,659,961.80. This trade represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 230,680 shares of company stock valued at $19,418,357 over the last quarter. 0.59% of the stock is owned by corporate insiders.

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.