Best Buy Co., Inc. $BBY Stock Position Raised by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 8.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 210,612 shares of the technology retailer’s stock after purchasing an additional 16,444 shares during the period. Illinois Municipal Retirement Fund’s holdings in Best Buy were worth $15,926,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. raised its holdings in 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 during the period. Root Financial Partners LLC purchased a new position in shares of Best Buy in the third quarter worth approximately $32,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Best Buy during the second quarter valued at approximately $33,000. MUFG Securities EMEA plc purchased a new stake in shares of Best Buy in the 2nd quarter valued at approximately $38,000. Finally, Bogart Wealth LLC boosted its stake in Best Buy by 202.0% in 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 period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Trading Down 3.3%

Shares of NYSE BBY opened at $64.87 on Friday. The stock has a market cap of $13.59 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.60 and a beta of 1.44. The business has a 50 day simple moving average of $69.00 and a 200 day simple moving average of $73.18. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $91.68.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, topping the consensus estimate of $1.31 by $0.09. The company had revenue of $9.67 billion during 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 revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The business 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. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.9%. Best Buy’s dividend payout ratio is currently 125.83%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Loop Capital increased their target price on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. 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. Wedbush restated a “neutral” rating and set a $75.00 price objective on shares of Best Buy in a research report on Thursday, November 20th. Citigroup upped their target price on Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Finally, The Goldman Sachs Group reduced their price target on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $80.80.

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.