LSV Asset Management Sells 35,401 Shares of Best Buy Co., Inc. $BBY

LSV Asset Management trimmed its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,308,200 shares of the technology retailer’s stock after selling 35,401 shares during the quarter. LSV Asset Management owned approximately 0.62% of Best Buy worth $98,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BBY. Harbor Capital Advisors Inc. lifted its stake in shares of Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 138 shares during the period. Root Financial Partners LLC bought a new position in Best Buy in the third quarter worth $32,000. CYBER HORNET ETFs LLC bought a new position in Best Buy in the second quarter worth $33,000. MUFG Securities EMEA plc purchased a new position in Best Buy during the second quarter valued at $38,000. Finally, Bogart Wealth LLC boosted 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 buying an additional 404 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Down 3.3%

Shares of Best Buy stock opened at $64.87 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. The stock has a market capitalization of $13.59 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 1.60 and a beta of 1.44. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $91.68. The company has a 50-day simple moving average of $69.00 and a two-hundred day simple moving average of $73.18.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The firm 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 business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders 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 dividend yield of 5.9%. Best Buy’s dividend payout ratio (DPR) is presently 125.83%.

Wall Street Analyst Weigh In

BBY has been the subject of several research reports. Guggenheim reiterated a “buy” rating and issued a $90.00 price target on shares of Best Buy in a research note on Wednesday, November 26th. Daiwa Securities Group boosted their price objective on shares of Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, November 28th. The Goldman Sachs Group decreased their target price on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Telsey Advisory Group lifted their target price 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. Finally, Barclays lowered their target price on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, January 8th. Eight 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 data from MarketBeat, Best Buy currently 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.