Pallas Capital Advisors LLC Has $2.50 Million Stock Holdings in Best Buy Co., Inc. $BBY

Pallas Capital Advisors LLC grew its position in Best Buy Co., Inc. (NYSE:BBY) by 262.5% during the third quarter, HoldingsChannel reports. The firm owned 33,035 shares of the technology retailer’s stock after buying an additional 23,921 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Best Buy were worth $2,498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of BBY. Harbor Capital Advisors Inc. grew its stake in 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 buying an additional 138 shares during the last quarter. Root Financial Partners LLC bought a new stake in Best Buy during the third quarter valued at about $32,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Best Buy in the second quarter valued at about $33,000. MUFG Securities EMEA plc bought a new position in shares of Best Buy in the second quarter worth about $38,000. Finally, Bogart Wealth LLC lifted its position 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 worth $41,000 after purchasing an additional 404 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BBY. Telsey Advisory Group raised their target price on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, November 26th. UBS Group increased their price objective on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Citigroup lowered their price objective on shares of Best Buy from $82.00 to $67.00 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. cut shares of Best Buy from an “overweight” rating to a “neutral” rating and cut their target price for the company from $99.00 to $76.00 in a research note on Monday, February 2nd. 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 investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $80.05.

Best Buy Stock Up 1.4%

Shares of BBY stock opened at $65.80 on Tuesday. 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 fifty day moving average price of $68.70 and a 200 day moving average price of $73.27. The stock has a market cap of $13.79 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44.

Best Buy (NYSE:BBY) last announced 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. The firm had revenue of $9.67 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Tuesday, December 16th. Best Buy’s dividend payout ratio is 125.83%.

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.