Swiss National Bank Has $43.75 Million Stock Holdings in Best Buy Co., Inc. $BBY

Key Points

• Swiss National Bank trimmed its Best Buy stake by 4.8% in Q3, selling 29,200 shares and leaving 578,600 shares worth about $43.75 million (≈0.28% of the company).
• Q results: Best Buy beat EPS estimates ($2.61 vs. $2.48) but reported revenue of $13.81 billion, down 1% year-over-year and slightly below consensus, while guiding FY2027 EPS to a range of 6.300–6.600 (analysts expect ~6.18).
• Best Buy raised its quarterly dividend to $0.96 (annualized $3.84) for a 6.1% yield and a 75.4% payout ratio; analysts’ consensus rating is “Hold” with an average price target of $76.20.

Swiss National Bank trimmed its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 578,600 shares of the technology retailer's stock after selling 29,200 shares during the period. Swiss National Bank owned about 0.28% of Best Buy worth $43,754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BBY. Sage Private Wealth Group LLC raised its holdings in 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 buying an additional 123 shares during the period. LVW Advisors LLC boosted its holdings in shares of Best Buy by 3.9% in the third quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer's stock worth $275,000 after buying an additional 137 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer's stock worth $25,000 after acquiring an additional 138 shares in the last quarter. Huntington National Bank increased its position in shares of Best Buy by 12.0% in the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer's stock worth $98,000 after acquiring an additional 139 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Best Buy by 1.5% in the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer's stock worth $639,000 after acquiring an additional 144 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Best Buy Stock Down 0.8%

Shares of Best Buy stock opened at $62.63 on Friday. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 1.56 and a beta of 1.46. The stock has a 50-day simple moving average of $66.38 and a 200-day simple moving average of $72.51. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $84.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.13. The firm had revenue of $13.81 billion for the quarter, compared to the consensus estimate of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm's revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.58 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, equities research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th will be paid a dividend of $0.96 per share. This is a positive change from Best Buy's previous quarterly dividend of $0.95. The ex-dividend date is Tuesday, March 24th. This represents a $3.84 annualized dividend and a dividend yield of 6.1%. Best Buy's dividend payout ratio (DPR) is currently 75.40%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BBY. Telsey Advisory Group reduced their price target on shares of Best Buy from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, March 4th. Guggenheim reiterated a "buy" rating and set a $90.00 price objective on shares of Best Buy in a research report on Wednesday, March 4th. Citigroup boosted their target price on shares of Best Buy from $67.00 to $69.00 and gave the company a "neutral" rating in a research note on Wednesday, March 4th. UBS Group increased their target price on Best Buy from $93.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, November 26th. Finally, Morgan Stanley lowered their price target on Best Buy from $76.00 to $72.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 4th. Nine equities research 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. Based on data from MarketBeat.com, Best Buy has a consensus rating of "Hold" and an average price target of $76.20.

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.

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