ING Groep NV Buys 445,953 Shares of Best Buy Co., Inc. $BBY

ING Groep NV increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 499.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 535,187 shares of the technology retailer’s stock after buying an additional 445,953 shares during the quarter. ING Groep NV owned about 0.25% of Best Buy worth $40,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBY. Norges Bank acquired a new stake in shares of Best Buy during the 2nd quarter worth $171,851,000. AQR Capital Management LLC grew its stake in Best Buy by 39.5% during the second quarter. AQR Capital Management LLC now owns 3,501,617 shares of the technology retailer’s stock worth $235,064,000 after buying an additional 991,141 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Best Buy by 61.9% in the 3rd quarter. Pacer Advisors Inc. now owns 1,998,886 shares of the technology retailer’s stock valued at $151,156,000 after buying 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 valued at $305,351,000 after buying an additional 621,863 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its position in shares of 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 buying an additional 614,779 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Up 1.4%

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

Best Buy (NYSE:BBY) last released 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 firm had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BBY. UBS Group lifted their price objective on shares of Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Wall Street Zen cut Best Buy from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Guggenheim restated a “buy” rating and set a $90.00 price objective on shares of Best Buy in a research report on Wednesday, November 26th. Jefferies Financial Group decreased their target price on Best Buy from $94.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Morgan Stanley dropped their target price on shares of Best Buy from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Eight equities 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.80.

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.