Shell Asset Management Co. Has $960,000 Stock Holdings in Best Buy Co., Inc. $BBY

Shell Asset Management Co. lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 77.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,694 shares of the technology retailer’s stock after selling 42,985 shares during the period. Shell Asset Management Co.’s holdings in Best Buy were worth $960,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BBY. Cidel Asset Management Inc. increased its holdings in shares of Best Buy by 10.3% during the third quarter. Cidel Asset Management Inc. now owns 4,356 shares of the technology retailer’s stock worth $329,000 after buying an additional 408 shares in the last quarter. MidWestOne Financial Group Inc. bought a new stake in Best Buy during the 3rd quarter worth $217,000. Abich Financial Wealth Management LLC acquired a new position in Best Buy in the 3rd quarter worth about $285,000. Public Sector Pension Investment Board increased its holdings in Best Buy by 21.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 16,462 shares of the technology retailer’s stock worth $1,245,000 after purchasing an additional 2,933 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in Best Buy by 8.5% in the third quarter. Illinois Municipal Retirement Fund now owns 210,612 shares of the technology retailer’s stock valued at $15,926,000 after purchasing an additional 16,444 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of Best Buy stock opened at $65.80 on Tuesday. The business has a 50-day moving average price of $68.70 and a two-hundred day moving average price of $73.27. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $91.68. The company has a current ratio of 1.05, a quick ratio of 0.26 and a debt-to-equity ratio of 0.44. The company has a market cap of $13.79 billion, a P/E ratio of 21.79, a PEG ratio of 1.57 and a beta of 1.44.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating the consensus estimate of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The company had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BBY. Jefferies Financial Group reduced their price target on Best Buy from $94.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, February 9th. BNP Paribas Exane reduced their target price on shares of Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, November 26th. Wall Street Zen downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Truist Financial cut their price target on shares of Best Buy from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Friday, January 16th. Finally, Loop Capital increased their price objective on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Eight investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $80.05.

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.