Merit Financial Group LLC Grows Stock Holdings in Best Buy Co., Inc. $BBY

Merit Financial Group LLC increased its position in Best Buy Co., Inc. (NYSE:BBY) by 126.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,212 shares of the technology retailer’s stock after buying an additional 16,852 shares during the period. Merit Financial Group LLC’s holdings in Best Buy were worth $2,285,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Harbor Capital Advisors Inc. raised its stake in Best Buy by 69.3% during the 3rd 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 during the period. Root Financial Partners LLC bought a new stake in shares of Best Buy during the third quarter valued at approximately $32,000. CYBER HORNET ETFs LLC bought a new stake in shares of Best Buy during the second quarter valued at approximately $33,000. MUFG Securities EMEA plc purchased a new position in shares of Best Buy in the second quarter worth $38,000. Finally, Bogart Wealth LLC boosted its position in shares of Best Buy by 202.0% during the second quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock worth $41,000 after acquiring an additional 404 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BBY. Evercore reduced their price target on shares of Best Buy from $80.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, February 3rd. Loop Capital boosted their target price on Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. UBS Group increased their price target on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Truist Financial cut their price target on Best Buy from $77.00 to $73.00 and set a “hold” rating for the company in a report on Friday, January 16th. Finally, Wall Street Zen cut Best Buy from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $80.58.

Best Buy Trading Up 0.3%

Shares of BBY stock opened at $66.03 on Wednesday. The company has a market cap of $13.84 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $91.68. The stock’s 50 day simple moving average is $68.55 and its two-hundred day simple moving average is $73.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26.

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

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders 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 dividend payout ratio (DPR) is 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.