Best Buy Co., Inc. $BBY Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its holdings in Best Buy Co., Inc. (NYSE:BBY) by 21.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,492 shares of the technology retailer’s stock after selling 12,066 shares during the quarter. Voya Investment Management LLC’s holdings in Best Buy were worth $3,364,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Panagora Asset Management Inc. raised its holdings 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 buying an additional 144 shares during the period. GAMMA Investing LLC increased its position in shares of Best Buy by 2.1% during the third quarter. GAMMA Investing LLC now owns 7,220 shares of the technology retailer’s stock valued at $546,000 after acquiring an additional 150 shares during the last quarter. Capital Investment Advisors LLC raised its stake in shares of Best Buy by 0.8% in the 2nd quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer’s stock valued at $1,278,000 after acquiring an additional 154 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Best Buy by 0.7% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 25,414 shares of the technology retailer’s stock worth $1,871,000 after acquiring an additional 174 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Best Buy by 20.6% in the 2nd quarter. Blue Trust Inc. now owns 1,160 shares of the technology retailer’s stock worth $78,000 after acquiring an additional 198 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Performance

Shares of Best Buy stock opened at $69.59 on Friday. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $91.68. The company has a market cap of $14.58 billion, a PE ratio of 23.04, a P/E/G ratio of 1.77 and a beta of 1.37. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. The business has a 50-day simple moving average of $76.71 and a 200-day simple moving average of $73.66.

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

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, December 16th. Best Buy’s payout ratio is 125.83%.

Insider Activity

In other news, Chairman Richard M. Schulze sold 500,000 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $80.83, for a total value of $40,415,000.00. Following the transaction, the chairman owned 12,486,904 shares in the company, valued at approximately $1,009,316,450.32. This represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 1,534,993 shares of company stock worth $126,626,855. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BBY. Citigroup boosted their target price on Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Jefferies Financial Group decreased their target price on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Barclays lifted their target price on Best Buy from $74.00 to $81.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Argus reissued a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Finally, 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 report on Wednesday, November 26th. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $84.11.

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.