NorthCrest Asset Manangement LLC Acquires 8,478 Shares of Best Buy Co., Inc. $BBY

NorthCrest Asset Manangement LLC boosted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 66.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,318 shares of the technology retailer’s stock after buying an additional 8,478 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Best Buy were worth $1,604,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted 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 in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Best Buy during the second quarter worth about $33,000. MUFG Securities EMEA plc bought a new stake in Best Buy in the 2nd quarter valued at approximately $38,000. Maseco LLP acquired a new position in Best Buy during the 2nd quarter worth approximately $39,000. Finally, Bogart Wealth LLC grew its stake 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 acquiring an additional 404 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Down 2.9%

BBY opened at $65.79 on Wednesday. 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 stock’s fifty day simple moving average is $72.32 and its 200 day simple moving average is $73.55. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $91.68. The stock has a market cap of $13.79 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 1.72 and a beta of 1.41.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 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 the consensus estimate of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently commented on BBY shares. Weiss Ratings restated a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Citigroup lifted their target price on Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Wall Street Zen downgraded Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Wedbush reiterated a “neutral” rating and set a $75.00 price objective on shares of Best Buy in a research note on Thursday, November 20th. Finally, BNP Paribas Exane lowered 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. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $83.37.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 374,164 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $83.24, for a total transaction of $31,145,411.36. Following the transaction, the chairman owned 11,786,904 shares in the company, valued at approximately $981,141,888.96. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 709,157 shares of company stock valued at $59,379,260 over the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

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.