Best Buy Co., Inc. $BBY Shares Sold by Versor Investments LP

Versor Investments LP lessened its stake in Best Buy Co., Inc. (NYSE:BBY) by 44.2% during the third quarter, HoldingsChannel.com reports. The firm owned 15,407 shares of the technology retailer’s stock after selling 12,212 shares during the period. Versor Investments LP’s holdings in Best Buy were worth $1,165,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC raised its position 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 buying an additional 44,989 shares in the last quarter. CWM LLC increased its holdings in shares of Best Buy by 272.6% in the third quarter. CWM LLC now owns 183,842 shares of the technology retailer’s stock valued at $13,902,000 after buying an additional 134,508 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Best Buy by 2.3% during the third quarter. Bank of New York Mellon Corp now owns 1,754,844 shares of the technology retailer’s stock worth $132,701,000 after purchasing an additional 39,026 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Best Buy by 155.9% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 157,400 shares of the technology retailer’s stock worth $11,903,000 after buying an additional 95,900 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Best Buy by 5.7% during the third quarter. Allianz Asset Management GmbH now owns 1,639,202 shares of the technology retailer’s stock valued at $123,956,000 after acquiring an additional 89,057 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Performance

NYSE BBY opened at $67.12 on Tuesday. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $91.68. 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 company’s 50-day simple moving average is $69.47 and its 200 day simple moving average is $73.28. The stock has a market cap of $14.06 billion, a P/E ratio of 22.23, a PEG ratio of 1.68 and a beta of 1.44.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, topping the consensus estimate of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The business had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the company earned $1.26 EPS. Best Buy’s revenue was up 2.4% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on BBY. BNP Paribas Exane dropped their price target on Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 26th. Truist Financial reduced their target price on shares of Best Buy from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, January 21st. Telsey Advisory Group upped their price objective on shares of Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 26th. Finally, Daiwa Securities Group increased their target price on Best Buy from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, November 28th. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Best Buy currently has a consensus rating of “Hold” and an average price target of $80.80.

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.