Envestnet Asset Management Inc. Purchases 8,673 Shares of Best Buy Co., Inc. $BBY

Envestnet Asset Management Inc. raised its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 346,080 shares of the technology retailer’s stock after acquiring an additional 8,673 shares during the period. Envestnet Asset Management Inc. owned about 0.16% of Best Buy worth $26,171,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its holdings in shares of Best Buy by 69.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 138 shares during the last quarter. Root Financial Partners LLC bought a new stake in Best Buy in the third quarter worth $32,000. CYBER HORNET ETFs LLC purchased a new stake in Best Buy during the second quarter valued at about $33,000. MUFG Securities EMEA plc bought a new position in shares of Best Buy during the second quarter valued at about $38,000. Finally, Bogart Wealth LLC increased its holdings in shares of Best Buy by 202.0% in the second quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock worth $41,000 after buying an additional 404 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BBY. Jefferies Financial Group dropped their target price on Best Buy from $94.00 to $89.00 and set a “buy” rating for the company in a report on Monday. Truist Financial dropped their price objective on Best Buy from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Friday, January 16th. Morgan Stanley decreased their target price on shares of Best Buy from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Guggenheim reissued a “buy” rating and set a $90.00 price target on shares of Best Buy in a research report on Wednesday, November 26th. Finally, BNP Paribas Exane cut their price target on shares of Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, November 26th. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Best Buy has an average rating of “Hold” and a consensus target price of $80.80.

Best Buy Price Performance

Shares of BBY stock opened at $64.87 on Friday. The business’s fifty day moving average is $69.00 and its 200 day moving average is $73.18. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock has a market cap of $13.59 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.60 and a beta of 1.44. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $91.68.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The firm had revenue of $9.67 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) is presently 125.83%.

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.