J. Safra Sarasin Holding AG Raises Stock Holdings in Best Buy Co., Inc. $BBY

J. Safra Sarasin Holding AG grew its holdings in Best Buy Co., Inc. (NYSE:BBY) by 300.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,226 shares of the technology retailer’s stock after buying an additional 12,919 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Best Buy were worth $1,303,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BBY. CWM LLC boosted its stake in Best Buy by 272.6% during the third quarter. CWM LLC now owns 183,842 shares of the technology retailer’s stock worth $13,902,000 after buying an additional 134,508 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Best Buy by 46.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 142,288 shares of the technology retailer’s stock worth $10,760,000 after acquiring an additional 44,989 shares during the period. Conning Inc. boosted its position in shares of Best Buy by 5.4% during the 2nd quarter. Conning Inc. now owns 479,055 shares of the technology retailer’s stock valued at $32,159,000 after acquiring an additional 24,741 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Best Buy by 155.9% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 157,400 shares of the technology retailer’s stock valued at $11,903,000 after purchasing an additional 95,900 shares during the period. Finally, Cerity Partners LLC increased its position in Best Buy by 63.3% during the third quarter. Cerity Partners LLC now owns 299,093 shares of the technology retailer’s stock worth $22,617,000 after purchasing an additional 115,978 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Evercore ISI decreased their target price on shares of Best Buy from $85.00 to $80.00 and set an “in-line” rating on the stock in a report on Tuesday, December 9th. UBS Group lifted their price target on shares of Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Citigroup upped their price objective on Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, November 7th. The Goldman Sachs Group cut their target price on Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Finally, Jefferies Financial Group decreased their price target 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. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.37.

Best Buy Stock Down 0.3%

Shares of NYSE BBY opened at $65.53 on Thursday. 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 business’s 50 day moving average is $71.24 and its two-hundred day moving average is $73.30. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $91.68. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.67 and a beta of 1.41.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The business had revenue of $9.67 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. 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. Stockholders of record on Tuesday, December 16th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Tuesday, December 16th. Best Buy’s dividend payout ratio is currently 125.83%.

Best Buy 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.