M&G PLC Sells 12,907 Shares of Best Buy Co., Inc. $BBY

M&G PLC decreased its position in Best Buy Co., Inc. (NYSE:BBY) by 10.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 110,631 shares of the technology retailer’s stock after selling 12,907 shares during the period. M&G PLC’s holdings in Best Buy were worth $8,408,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sage Private Wealth Group LLC grew its stake in shares of 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 worth $311,000 after acquiring an additional 123 shares in the last quarter. LVW Advisors LLC boosted its holdings in Best Buy by 3.9% during the third quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock worth $275,000 after purchasing an additional 137 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 138 shares in the last quarter. Panagora Asset Management Inc. grew its position in 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 purchasing an additional 144 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Best Buy by 2.1% in the 3rd quarter. GAMMA Investing LLC now owns 7,220 shares of the technology retailer’s stock valued at $546,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

BBY has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of Best Buy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $99.00 to $76.00 in a research note on Monday, February 2nd. Barclays dropped their target price on Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Guggenheim restated a “buy” rating and issued a $90.00 price target on shares of Best Buy in a research note on Wednesday, November 26th. Daiwa Securities Group boosted their price target on Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, November 28th. Finally, Citigroup cut their price objective on Best Buy from $82.00 to $67.00 and set a “neutral” rating for the company in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $80.05.

Best Buy Price Performance

NYSE:BBY opened at $65.80 on Tuesday. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $91.68. The firm has a market capitalization of $13.79 billion, a price-to-earnings ratio of 21.79, a P/E/G ratio of 1.57 and a beta of 1.44. The stock’s 50 day moving average price is $68.70 and its two-hundred day moving average price is $73.27. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The business had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the firm earned $1.26 EPS. The firm’s revenue 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. On average, analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were issued 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 payout ratio is currently 125.83%.

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.