Jensen Investment Management Inc. Sells 14,290 Shares of Best Buy Co., Inc. $BBY

Jensen Investment Management Inc. lowered its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 34.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 27,385 shares of the technology retailer’s stock after selling 14,290 shares during the quarter. Jensen Investment Management Inc.’s holdings in Best Buy were worth $2,071,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Woodline Partners LP boosted its stake in Best Buy by 40.1% during the 1st quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock worth $1,210,000 after acquiring an additional 4,701 shares during the last quarter. Blue Trust Inc. raised its holdings in Best Buy by 20.6% in 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 during the period. Aberdeen Group plc boosted its position in shares of Best Buy by 20.7% during the second quarter. Aberdeen Group plc now owns 254,013 shares of the technology retailer’s stock worth $17,040,000 after purchasing an additional 43,498 shares in the last quarter. CWM LLC grew its holdings in shares of Best Buy by 123.5% in the 2nd quarter. CWM LLC now owns 49,334 shares of the technology retailer’s stock valued at $3,312,000 after buying an additional 27,259 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Best Buy by 8.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,973 shares of the technology retailer’s stock valued at $468,000 after buying an additional 546 shares during the period. 80.96% of the stock is owned by institutional investors.

Best Buy Trading Up 1.4%

Shares of NYSE:BBY opened at $68.03 on Wednesday. The company’s 50-day moving average price is $69.33 and its two-hundred day moving average price is $73.28. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $91.68. 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 $14.26 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.60 and a beta of 1.44.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (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 business had revenue of $9.67 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. Best Buy’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, equities analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on BBY. Daiwa Securities Group lifted their target price on Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, November 28th. Jefferies Financial Group dropped their price target on Best Buy from $94.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday. Loop Capital boosted their price objective on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Evercore dropped their target price on shares of Best Buy from $80.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, February 3rd. Finally, BNP Paribas Exane reduced their price target on shares of Best Buy from $69.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, November 26th. Eight equities 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 company. According to data from MarketBeat.com, Best Buy presently has an average rating of “Hold” and an average target price of $80.80.

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.