Banco Bilbao Vizcaya Argentaria S.A. Acquires 12,072 Shares of Best Buy Co., Inc. $BBY

Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 10.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 122,720 shares of the technology retailer’s stock after acquiring an additional 12,072 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Best Buy were worth $8,237,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BBY. New York State Common Retirement Fund lifted its stake in Best Buy by 2.0% during the first quarter. New York State Common Retirement Fund now owns 127,727 shares of the technology retailer’s stock worth $9,402,000 after purchasing an additional 2,500 shares during the period. Larson Financial Group LLC grew its stake in shares of Best Buy by 14.4% in the 1st quarter. Larson Financial Group LLC now owns 6,933 shares of the technology retailer’s stock valued at $510,000 after purchasing an additional 875 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Best Buy by 4.0% in the 1st quarter. Cullen Frost Bankers Inc. now owns 11,635 shares of the technology retailer’s stock worth $856,000 after buying an additional 449 shares in the last quarter. Bailard Inc. lifted its position in shares of Best Buy by 0.7% during the 1st quarter. Bailard Inc. now owns 21,965 shares of the technology retailer’s stock worth $1,617,000 after buying an additional 157 shares during the period. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of Best Buy during the 1st quarter worth approximately $460,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BBY. Wall Street Zen lowered Best Buy from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Citigroup increased their target price on shares of Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Wells Fargo & Company boosted their price target on shares of Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Finally, Truist Financial upped their price objective on shares of Best Buy from $72.00 to $79.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $83.88.

Best Buy Stock Down 0.7%

Shares of NYSE BBY opened at $75.67 on Friday. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $95.49. The firm’s 50-day simple moving average is $77.66 and its 200 day simple moving average is $72.81. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. The company has a market cap of $15.90 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 5.0%. Best Buy’s dividend payout ratio is currently 104.97%.

Insiders Place Their Bets

In other news, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.07, for a total value of $275,170.05. Following the completion of the sale, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at approximately $1,640,650.50. This trade represents a 14.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 500,000 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $80.83, for a total value of $40,415,000.00. Following the transaction, the chairman directly owned 12,486,904 shares in the company, valued at $1,009,316,450.32. This trade represents a 3.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,736,826 shares of company stock worth $141,568,327 over the last quarter. Corporate insiders own 0.47% of the company’s stock.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.