Groupama Asset Managment Sells 8,106 Shares of Best Buy Co., Inc. $BBY

Groupama Asset Managment lowered its position in Best Buy Co., Inc. (NYSE:BBY) by 39.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,194 shares of the technology retailer’s stock after selling 8,106 shares during the quarter. Groupama Asset Managment’s holdings in Best Buy were worth $922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its position 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 acquiring an additional 138 shares during the period. Palisade Asset Management LLC bought a new position in shares of Best Buy during the third quarter valued at $25,000. Root Financial Partners LLC acquired a new position in shares of Best Buy during the third quarter worth $32,000. CYBER HORNET ETFs LLC bought a new stake in shares of Best Buy in the second quarter worth $33,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Best Buy in the second quarter worth $38,000. Institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BBY. BNP Paribas Exane raised their target price on Best Buy from $68.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. UBS Group upped their price target on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Loop Capital increased their price target on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Wells Fargo & Company lowered their price objective on Best Buy from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Finally, Barclays cut their price objective on Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 8th. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $76.20.

Best Buy Stock Performance

BBY opened at $62.74 on Friday. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $84.99. The company has a market cap of $13.12 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.58 and a beta of 1.46. The company’s fifty day moving average price is $65.49 and its two-hundred day moving average price is $72.06. The company has a current ratio of 1.11, a quick ratio of 0.43 and a debt-to-equity ratio of 0.39.

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

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $3.84 dividend on an annualized basis and a yield of 6.1%. This is an increase from Best Buy’s previous quarterly dividend of $0.95. Best Buy’s dividend payout ratio is presently 76.19%.

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.