Best Buy Co., Inc. $BBY Position Lowered by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in Best Buy Co., Inc. (NYSE:BBY) by 14.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,425,769 shares of the technology retailer’s stock after selling 239,459 shares during the quarter. Federated Hermes Inc.’s holdings in Best Buy were worth $95,712,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Best Buy in the 2nd quarter valued at approximately $171,851,000. AQR Capital Management LLC boosted its holdings in Best Buy by 36.5% in the first quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock worth $181,357,000 after purchasing an additional 671,408 shares during the period. Invesco Ltd. increased its stake in Best Buy by 15.8% during the second quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock valued at $305,351,000 after purchasing an additional 621,863 shares during the last quarter. Nuveen LLC bought a new stake in Best Buy during the first quarter valued at $39,579,000. Finally, Schroder Investment Management Group raised its holdings in shares of Best Buy by 390.8% during the second quarter. Schroder Investment Management Group now owns 605,443 shares of the technology retailer’s stock worth $40,643,000 after purchasing an additional 482,080 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 0.2%

Shares of Best Buy stock opened at $74.18 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $91.68. The business’s fifty day moving average price is $78.07 and its two-hundred day moving average price is $73.52. The company has a market capitalization of $15.59 billion, a P/E ratio of 24.56, a PEG ratio of 1.88 and a beta of 1.37.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The company had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the company earned $1.26 earnings per share. The company’s quarterly 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. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, December 16th. Best Buy’s payout ratio is 125.83%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $75.00 price objective on shares of Best Buy in a research report on Thursday, November 20th. Morgan Stanley upped their target price on Best Buy from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, November 26th. Wells Fargo & Company raised their price target on Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Barclays boosted their price objective 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. Finally, Citigroup increased their target price on Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.74.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard M. Schulze sold 74,553 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total value of $6,285,563.43. Following the completion of the transaction, the chairman directly owned 11,451,911 shares in the company, valued at $965,510,616.41. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 1,534,993 shares of company stock valued at $126,626,855. Corporate insiders own 0.59% of the company’s stock.

Best Buy Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.