Best Buy Co., Inc. $BBY Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 4.2% during the third quarter, Holdings Channel.com reports. The fund owned 323,335 shares of the technology retailer’s stock after selling 14,268 shares during the period. Alps Advisors Inc.’s holdings in Best Buy were worth $24,451,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BBY. Woodline Partners LP raised its position in shares of Best Buy by 40.1% in the first quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock valued at $1,210,000 after buying an additional 4,701 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Best Buy by 5.1% during the 2nd quarter. Truist Financial Corp now owns 28,195 shares of the technology retailer’s stock worth $1,893,000 after buying an additional 1,369 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Best Buy by 4.8% in the 2nd quarter. Vontobel Holding Ltd. now owns 42,670 shares of the technology retailer’s stock valued at $2,864,000 after purchasing an additional 1,954 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Best Buy by 62.1% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 10,125 shares of the technology retailer’s stock valued at $680,000 after acquiring an additional 3,878 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Best Buy by 20.6% during the second quarter. Blue Trust Inc. now owns 1,160 shares of the technology retailer’s stock worth $78,000 after purchasing an additional 198 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

Best Buy stock opened at $70.42 on Friday. The firm’s 50-day moving average is $69.67 and its two-hundred day moving average is $73.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. The stock has a market capitalization of $14.76 billion, a P/E ratio of 23.32, a P/E/G ratio of 1.68 and a beta of 1.44. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $91.68.

Best Buy (NYSE:BBY) last issued its quarterly 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 net margin of 1.54% and a return on equity of 50.02%. The firm had revenue of $9.67 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. Best Buy’s revenue for the quarter 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. Equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, December 16th. Best Buy’s payout ratio is presently 125.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Daiwa Securities Group increased their target price on shares of Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, November 28th. Telsey Advisory Group lifted their price target on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Evercore ISI decreased their price objective on Best Buy from $80.00 to $70.00 in a research report on Tuesday, February 3rd. Truist Financial dropped their price target on shares of Best Buy from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Friday, January 16th. Finally, Jefferies Financial Group reduced their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $81.05.

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.