Best Buy Co., Inc. $BBY Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 8.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 589,409 shares of the technology retailer’s stock after acquiring an additional 44,604 shares during the quarter. American Century Companies Inc. owned about 0.28% of Best Buy worth $44,571,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Huntington National Bank increased its holdings in Best Buy by 12.0% in the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock worth $98,000 after buying an additional 139 shares during the period. Aster Capital Management DIFC Ltd increased its stake in shares of Best Buy by 386.3% in the third quarter. Aster Capital Management DIFC Ltd now owns 4,693 shares of the technology retailer’s stock worth $355,000 after acquiring an additional 3,728 shares during the period. Xponance Inc. raised its holdings in shares of Best Buy by 57.4% during the third quarter. Xponance Inc. now owns 63,936 shares of the technology retailer’s stock worth $4,835,000 after purchasing an additional 23,304 shares during the last quarter. Integrated Advisors Network LLC acquired a new position in Best Buy during the third quarter valued at $201,000. Finally, DNB Asset Management AS boosted its holdings in Best Buy by 2.4% in the third quarter. DNB Asset Management AS now owns 35,299 shares of the technology retailer’s stock valued at $2,669,000 after purchasing an additional 843 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Price Performance

NYSE:BBY opened at $66.48 on Friday. The stock has a 50 day moving average price of $66.63 and a 200 day moving average price of $72.77. The stock has a market cap of $13.90 billion, a PE ratio of 13.19, a P/E/G ratio of 1.63 and a beta of 1.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.26 and a current ratio of 1.11. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $84.99.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.13. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The firm had revenue of $13.81 billion for the quarter, compared to analysts’ expectations of $13.96 billion. During the same quarter in the previous year, the company posted $2.58 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 5.8%. This is a positive change from Best Buy’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Tuesday, March 24th. Best Buy’s payout ratio is 75.40%.

Analyst Upgrades and Downgrades

BBY has been the subject of several analyst reports. Loop Capital boosted their price objective on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Truist Financial lowered their price objective on Best Buy from $73.00 to $66.00 and set a “hold” rating on the stock in a research report on Tuesday. Wedbush cut their target price on shares of Best Buy from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th. The Goldman Sachs Group lowered their price target on shares of Best Buy from $93.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, HSBC cut their price objective on shares of Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $76.20.

About Best Buy

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.