ING Groep NV Buys 445,953 Shares of Best Buy Co., Inc. $BBY

ING Groep NV raised its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 499.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 535,187 shares of the technology retailer’s stock after purchasing an additional 445,953 shares during the quarter. ING Groep NV’s holdings in Best Buy were worth $40,471,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers boosted its stake in shares of Best Buy by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 571,917 shares of the technology retailer’s stock valued at $43,248,000 after purchasing an additional 2,895 shares during the last quarter. Krilogy Financial LLC acquired a new position in Best Buy in the third quarter valued at $1,272,000. Center for Financial Planning Inc. boosted its position in Best Buy by 5.8% during the third quarter. Center for Financial Planning Inc. now owns 4,286 shares of the technology retailer’s stock valued at $324,000 after acquiring an additional 235 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in Best Buy during the 3rd quarter worth about $458,000. Finally, Johnson Investment Counsel Inc. raised its position in shares of Best Buy by 70.0% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 9,361 shares of the technology retailer’s stock worth $708,000 after acquiring an additional 3,856 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Trading Up 1.4%

NYSE:BBY opened at $68.03 on Wednesday. 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 one year low of $54.99 and a one year high of $91.68. The company has a market cap of $14.26 billion, a PE ratio of 22.53, a PEG ratio of 1.60 and a beta of 1.44. The firm has a 50-day moving average of $69.33 and a 200-day moving average of $73.28.

Best Buy (NYSE:BBY) last announced its quarterly 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. The business had revenue of $9.67 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $3.80 annualized dividend and a dividend yield of 5.6%. Best Buy’s payout ratio is presently 125.83%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BBY. Barclays decreased their target price on Best Buy from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. Daiwa Securities Group raised their price objective 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. Wall Street Zen lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Piper Sandler increased their target price on shares of Best Buy from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Finally, Evercore ISI decreased their price target on shares of Best Buy from $80.00 to $70.00 in a research note on Tuesday, February 3rd. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company 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.