Jensen Investment Management Inc. Sells 14,290 Shares of Best Buy Co., Inc. $BBY

Jensen Investment Management Inc. lowered its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 34.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 27,385 shares of the technology retailer’s stock after selling 14,290 shares during the period. Jensen Investment Management Inc.’s holdings in Best Buy were worth $2,071,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in BBY. Baader Bank Aktiengesellschaft bought a new stake in shares of Best Buy in the 3rd quarter worth approximately $458,000. Johnson Investment Counsel Inc. increased its position in shares of Best Buy by 70.0% during the third quarter. Johnson Investment Counsel Inc. now owns 9,361 shares of the technology retailer’s stock valued at $708,000 after purchasing an additional 3,856 shares during the period. ProShare Advisors LLC raised its stake in shares of Best Buy by 2.1% in the third quarter. ProShare Advisors LLC now owns 36,522 shares of the technology retailer’s stock valued at $2,762,000 after purchasing an additional 749 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in Best Buy by 1.4% in the third quarter. Linden Thomas Advisory Services LLC now owns 16,485 shares of the technology retailer’s stock worth $1,247,000 after purchasing an additional 230 shares during the period. Finally, Candriam S.C.A. lifted its position in Best Buy by 14.2% in the third quarter. Candriam S.C.A. now owns 15,677 shares of the technology retailer’s stock worth $1,185,000 after purchasing an additional 1,946 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BBY shares. Telsey Advisory Group increased their price objective on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, November 26th. The Goldman Sachs Group dropped their price target on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. BNP Paribas Exane decreased their price objective on Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, November 26th. JPMorgan Chase & Co. lowered Best Buy from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $99.00 to $76.00 in a research note on Monday, February 2nd. Finally, Guggenheim restated a “buy” rating and set a $90.00 target price on shares of Best Buy in a research report on Wednesday, November 26th. Eight research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.80.

Best Buy Stock Up 1.4%

Shares of BBY opened at $68.03 on Wednesday. The company has a market capitalization of $14.26 billion, a P/E ratio of 22.53, a PEG ratio of 1.60 and a beta of 1.44. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $91.68. The business’s 50 day simple moving average is $69.33 and its 200-day simple moving average is $73.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26.

Best Buy (NYSE:BBY) last issued its quarterly earnings data 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 firm had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 5.6%. The ex-dividend date was Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) is presently 125.83%.

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.