Ruffer LLP Has $915,000 Holdings in Best Buy Co., Inc. $BBY

Ruffer LLP lessened its stake in Best Buy Co., Inc. (NYSE:BBY) by 40.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,094 shares of the technology retailer’s stock after selling 8,313 shares during the quarter. Ruffer LLP’s holdings in Best Buy were worth $915,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BBY. Vanguard Group Inc. boosted its holdings in Best Buy by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 23,395,055 shares of the technology retailer’s stock worth $1,570,510,000 after acquiring an additional 419,312 shares during the last quarter. State Street Corp increased its position in Best Buy by 3.8% in the second quarter. State Street Corp now owns 13,631,429 shares of the technology retailer’s stock worth $927,753,000 after buying an additional 496,215 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Best Buy by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,038,506 shares of the technology retailer’s stock valued at $472,495,000 after acquiring an additional 69,533 shares during the period. Invesco Ltd. raised its position in shares of Best Buy by 15.8% in the second quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock valued at $305,351,000 after purchasing an additional 621,863 shares during the period. Finally, AQR Capital Management LLC grew its stake in Best Buy by 39.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,501,617 shares of the technology retailer’s stock valued at $235,064,000 after buying an additional 991,141 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Stock Down 0.3%

Shares of BBY stock opened at $65.53 on Thursday. The stock has a market cap of $13.73 billion, a P/E ratio of 21.70, a PEG ratio of 1.67 and a beta of 1.41. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $91.68. The company’s fifty day simple moving average is $71.24 and its two-hundred day simple moving average is $73.30. 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 quarterly earnings data 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 analyst estimates of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. Best Buy’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors 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 5.8%. Best Buy’s payout ratio is 125.83%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Evercore ISI lowered their target price on shares of Best Buy from $85.00 to $80.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 9th. UBS Group upped their target price on Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. JPMorgan Chase & Co. upped their price target on shares of Best Buy from $97.00 to $99.00 in a research report on Tuesday, November 25th. Truist Financial cut their price target on shares of Best Buy from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Friday, January 16th. Finally, Piper Sandler upped their price objective on shares of Best Buy from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.37.

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.