Versor Investments LP Trims Stock Holdings in Best Buy Co., Inc. $BBY

Versor Investments LP lowered its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 44.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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.

Other institutional investors have also recently added to or reduced their stakes in the company. Sage Private Wealth Group LLC raised its position in shares of Best Buy by 3.1% in the third quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock valued at $311,000 after buying an additional 123 shares during the last quarter. LVW Advisors LLC grew its stake in Best Buy by 3.9% in the 3rd quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock worth $275,000 after acquiring an additional 137 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 138 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in shares of Best Buy by 1.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock worth $639,000 after purchasing an additional 144 shares during the period. Finally, GAMMA Investing LLC boosted its holdings 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 worth $546,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Jefferies Financial Group dropped their target price on Best Buy from $94.00 to $89.00 and set a “buy” rating for the company in a research note on Monday. Evercore dropped their price objective on shares of Best Buy from $80.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. lowered shares of Best Buy from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $99.00 to $76.00 in a report on Monday, February 2nd. Citigroup boosted their target price on shares of Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Finally, Daiwa Securities Group upped their price target on shares of Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, November 28th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $80.80.

Best Buy Price Performance

BBY opened at $67.12 on Tuesday. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $91.68. The company has a 50 day moving average of $69.47 and a two-hundred day moving average of $73.28. The company has a market cap of $14.06 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.68 and a beta of 1.44. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44.

Best Buy (NYSE:BBY) last posted 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 business had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The business’s quarterly 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. On average, analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company 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 5.7%. The ex-dividend date of this dividend was Tuesday, December 16th. Best Buy’s payout ratio is presently 125.83%.

About Best Buy

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.