Best Buy Co., Inc. $BBY Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 210,612 shares of the technology retailer’s stock after acquiring an additional 16,444 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.10% of Best Buy worth $15,926,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Savvy Advisors Inc. boosted its stake in Best Buy by 113.5% during the 3rd quarter. Savvy Advisors Inc. now owns 6,571 shares of the technology retailer’s stock valued at $497,000 after acquiring an additional 3,493 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Best Buy in the 3rd quarter valued at about $647,000. ING Groep NV lifted its position in shares of Best Buy by 499.8% during the third quarter. ING Groep NV now owns 535,187 shares of the technology retailer’s stock worth $40,471,000 after purchasing an additional 445,953 shares during the last quarter. Rhumbline Advisers grew its stake in Best Buy by 0.5% in the third quarter. Rhumbline Advisers now owns 571,917 shares of the technology retailer’s stock worth $43,248,000 after purchasing an additional 2,895 shares in the last quarter. Finally, Krilogy Financial LLC bought a new stake in Best Buy in the third quarter valued at about $1,272,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

NYSE BBY opened at $64.87 on Friday. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $91.68. The firm has a market capitalization of $13.59 billion, a PE ratio of 21.48, a P/E/G ratio of 1.60 and a beta of 1.44. The company’s 50 day simple moving average is $69.00 and its 200 day simple moving average is $73.18. 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 (NYSE:BBY) last issued its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $9.57 billion. During the same period last year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were paid a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $3.80 annualized dividend and a dividend yield of 5.9%. Best Buy’s payout ratio is currently 125.83%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. BNP Paribas Exane decreased their target price on Best Buy from $69.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, November 26th. Weiss Ratings restated a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, January 21st. Daiwa Securities Group increased their target price on Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, November 28th. Loop Capital raised their target price on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, Piper Sandler upped their price target on shares of Best Buy from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average 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.