Best Buy Co., Inc. $BBY Stake Raised by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 34.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 648,719 shares of the technology retailer’s stock after buying an additional 165,520 shares during the period. Victory Capital Management Inc. owned approximately 0.31% of Best Buy worth $49,056,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted 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 acquiring an additional 138 shares during the period. Root Financial Partners LLC acquired a new position in shares of Best Buy during the third quarter valued at $32,000. CYBER HORNET ETFs LLC acquired a new position in shares of Best Buy during the second quarter valued at $33,000. MUFG Securities EMEA plc bought a new stake in shares of Best Buy during the second quarter valued at about $38,000. Finally, True Wealth Design LLC raised its stake in shares of Best Buy by 775.3% during the second quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock valued at $43,000 after purchasing an additional 566 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. DA Davidson set a $78.00 target price on shares of Best Buy in a research report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. The Goldman Sachs Group decreased their price objective on shares of Best Buy from $93.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Loop Capital boosted their target price on Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and an average price target of $76.20.

Best Buy Price Performance

Shares of NYSE BBY opened at $66.48 on Friday. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $84.99. The company has a current ratio of 1.11, a quick ratio of 0.26 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average of $66.63 and a two-hundred day moving average of $72.76. The company has a market capitalization of $13.90 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.65 and a beta of 1.46.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, topping 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 company 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 business’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. As a group, analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th will be given a $0.96 dividend. 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 is Tuesday, March 24th. Best Buy’s dividend payout ratio (DPR) is presently 75.40%.

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.