Wealthfront Advisers LLC Reduces Holdings in Best Buy Co., Inc. $BBY

Wealthfront Advisers LLC reduced its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 12.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,491 shares of the technology retailer’s stock after selling 14,932 shares during the period. Wealthfront Advisers LLC’s holdings in Best Buy were worth $7,750,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Sage Private Wealth Group LLC raised its holdings in shares of Best Buy by 3.1% in the third quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock worth $311,000 after acquiring an additional 123 shares during the last quarter. LVW Advisors LLC increased its position in Best Buy by 3.9% during the 3rd quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock worth $275,000 after purchasing an additional 137 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Best Buy by 69.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 138 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Best Buy by 1.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after purchasing an additional 144 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Best Buy by 2.1% in the 3rd quarter. GAMMA Investing LLC now owns 7,220 shares of the technology retailer’s stock valued at $546,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BBY shares. BNP Paribas Exane cut their price objective on shares of Best Buy from $69.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, November 26th. Evercore lowered their target price on shares of Best Buy from $80.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, February 3rd. Telsey Advisory Group increased their price target on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 26th. Daiwa Securities Group raised their price objective on Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, November 28th. Finally, Wall Street Zen lowered Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Best Buy presently has an average rating of “Hold” and a consensus price target of $80.80.

Best Buy Price Performance

BBY stock opened at $67.08 on Thursday. The stock has a 50-day moving average price of $69.18 and a two-hundred day moving average price of $73.24. The company has a market cap of $14.05 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 1.62 and a beta of 1.44. 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 12-month low of $54.99 and a 12-month high of $91.68.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. The business had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The company’s revenue was up 2.4% compared to the same quarter last year. During the same period 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, research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

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

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.