Best Buy Co., Inc. $BBY Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 30.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 85,709 shares of the technology retailer’s stock after selling 37,011 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Best Buy were worth $6,436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 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 valued at $25,000 after acquiring an additional 138 shares in the last quarter. Root Financial Partners LLC acquired a new position in Best Buy during the 3rd quarter worth $32,000. CYBER HORNET ETFs LLC bought a new stake in shares of Best Buy in the 2nd quarter worth about $33,000. MUFG Securities EMEA plc acquired a new stake in shares of Best Buy in the 2nd quarter valued at about $38,000. Finally, Zions Bancorporation National Association UT raised its stake in shares of Best Buy by 1,385.4% in the 3rd quarter. Zions Bancorporation National Association UT now owns 609 shares of the technology retailer’s stock valued at $46,000 after purchasing an additional 568 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Performance

Shares of BBY opened at $62.90 on Tuesday. The firm has a fifty day moving average of $66.11 and a 200-day moving average of $72.33. The company has a market cap of $13.15 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $84.99.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.13. The business had revenue of $13.81 billion for the quarter, compared to analysts’ expectations of $13.96 billion. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th will be paid a $0.96 dividend. The ex-dividend date is Tuesday, March 24th. This is an increase from Best Buy’s previous quarterly dividend of $0.95. This represents a $3.84 annualized dividend and a dividend yield of 6.1%. Best Buy’s dividend payout ratio (DPR) is 75.40%.

Analyst Ratings Changes

A number of equities analysts recently commented on BBY shares. Barclays decreased their price target 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. UBS Group upped their price objective on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. HSBC decreased their target price on Best Buy from $96.00 to $85.00 in a research report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a report on Wednesday, January 21st. Finally, Guggenheim reissued a “buy” rating and set a $90.00 price target on shares of Best Buy in a research report on Wednesday, March 4th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $76.20.

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.