Aberdeen Group plc Cuts Holdings in Best Buy Co., Inc. $BBY

Aberdeen Group plc lowered its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.9% in the third quarter, Holdings Channel reports. The institutional investor owned 238,950 shares of the technology retailer’s stock after selling 15,063 shares during the period. Aberdeen Group plc’s holdings in Best Buy were worth $17,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BBY. Harbor Capital Advisors Inc. raised its holdings in Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 138 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Best Buy in the third quarter valued at approximately $32,000. CYBER HORNET ETFs LLC acquired a new position in shares of Best Buy during the second quarter worth $33,000. MUFG Securities EMEA plc purchased a new stake in shares of Best Buy during the 2nd quarter valued at $38,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Best Buy by 202.0% during the 2nd quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock valued at $41,000 after purchasing an additional 404 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Loop Capital upped their target price on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Barclays cut their price target on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 8th. Telsey Advisory Group boosted their price objective on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, November 26th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price target on shares of Best Buy in a research report on Wednesday, November 26th. Finally, UBS Group increased their price objective on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Best Buy currently has a consensus rating of “Hold” and a consensus target price of $80.32.

Best Buy Price Performance

NYSE:BBY opened at $66.99 on Thursday. The company has a 50 day moving average price of $68.41 and a 200-day moving average price of $73.24. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $91.68. The firm has a market cap of $14.04 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.58 and a beta of 1.44. 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 released its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The company had revenue of $9.67 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Equities research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were issued a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a yield of 5.7%. Best Buy’s dividend 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.