Vanguard Group Inc. Acquires 552,360 Shares of Best Buy Co., Inc. $BBY

Vanguard Group Inc. raised its stake in Best Buy Co., Inc. (NYSE:BBY) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,947,415 shares of the technology retailer’s stock after purchasing an additional 552,360 shares during the period. Vanguard Group Inc. owned 11.40% of Best Buy worth $1,810,904,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sage Private Wealth Group LLC lifted its stake in Best Buy by 3.1% during the 3rd quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock valued at $311,000 after acquiring an additional 123 shares in the last quarter. LVW Advisors LLC increased its stake in Best Buy by 3.9% in the 3rd quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock valued at $275,000 after buying an additional 137 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Best Buy by 69.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after buying an additional 138 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Best Buy by 1.5% in the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after acquiring an additional 144 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Best Buy by 2.1% during the third quarter. GAMMA Investing LLC now owns 7,220 shares of the technology retailer’s stock valued at $546,000 after acquiring an additional 150 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BBY has been the subject of several recent research reports. JPMorgan Chase & Co. downgraded shares of Best Buy from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $99.00 to $76.00 in a research note on Monday, February 2nd. Jefferies Financial Group dropped their price objective on Best Buy from $94.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Daiwa Securities Group lifted their target price on Best Buy from $76.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, November 28th. Morgan Stanley dropped their target price on shares of Best Buy from $82.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Finally, Barclays lowered their price target on Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 8th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $80.32.

Best Buy Stock Down 0.7%

Shares of NYSE:BBY opened at $65.85 on Friday. 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 company has a market cap of $13.80 billion, a PE ratio of 21.80, a P/E/G ratio of 1.59 and a beta of 1.44. The stock’s 50-day moving average is $68.24 and its 200 day moving average is $73.19. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $91.20.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. The business had revenue of $9.67 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS 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 paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) 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.