US Bancorp DE Sells 13,398 Shares of Best Buy Co., Inc. $BBY

US Bancorp DE reduced its stake in Best Buy Co., Inc. (NYSE:BBY) by 5.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 214,073 shares of the technology retailer’s stock after selling 13,398 shares during the quarter. US Bancorp DE’s holdings in Best Buy were worth $16,188,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. raised its holdings in Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 138 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Best Buy in the third quarter worth $32,000. CYBER HORNET ETFs LLC acquired a new position in Best Buy in the second quarter valued at about $33,000. MUFG Securities EMEA plc acquired a new position in Best Buy in the second quarter valued at about $38,000. Finally, True Wealth Design LLC lifted its position in Best Buy by 775.3% during the second quarter. True Wealth Design LLC now owns 639 shares of the technology retailer’s stock worth $43,000 after purchasing an additional 566 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Trading Down 1.5%

NYSE BBY opened at $61.93 on Friday. The company has a market cap of $12.98 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 1.48 and a beta of 1.44. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $90.86. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average is $67.09 and its 200 day moving average is $73.01.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BBY shares. Telsey Advisory Group restated an “outperform” rating and issued a $95.00 target price on shares of Best Buy in a research report on Tuesday, February 24th. Barclays decreased their price objective on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 8th. Wells Fargo & Company cut their target price on Best Buy from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Evercore reduced their target price on Best Buy from $80.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, February 3rd. Finally, Morgan Stanley lowered their price target on Best Buy from $82.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Best Buy has a consensus rating of “Hold” and a consensus target price of $80.05.

Key Best Buy News

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Telsey Advisory Group reiterated an Outperform rating on BBY, signaling at least one major shop has confidence in Best Buy’s longer-term playbook. Telsey Reiterates Outperform
• Positive Sentiment: GoPro and ASUS launched a co-branded ProArt laptop that will be sold exclusively at Best Buy in the U.S., providing a small but tangible product-differentiation and traffic driver in the near term. GoPro/ASUS ProArt at Best Buy
• Neutral Sentiment: Macro/AI uncertainty is a market-wide theme — commentary notes AI could both help and hurt sectors; this keeps discretionary retailers like Best Buy exposed to sentiment swings around tech spending. AI disruption looms over markets
• Neutral Sentiment: Analyst-model coverage (Zacks) highlights the key metrics investors will watch in BBY’s Q4 — same-store sales, AURs, services/Total Tech attach and margin drivers — useful context but no consensus surprise implied yet. Zacks Analyst Projections for BBY Q4
• Neutral Sentiment: Consensus analyst recommendation sits at “Hold,” reflecting mixed views across the sell-side and limited near-term conviction. Consensus “Hold” for Best Buy
• Negative Sentiment: HSBC lowered its price target on BBY from $96 to $85, signaling reduced optimism on Best Buy’s recovery momentum and contributing to downward pressure on the stock. HSBC cuts BBY price target
• Negative Sentiment: Wedbush trimmed its target to $70 (from $80) while staying Neutral, reflecting cautious near-term expectations and signaling limited upside in the near term. Wedbush cautious on Best Buy
• Negative Sentiment: UBS expects a tough fiscal Q4 with sales down ~2% amid intensifying competition — this guidance/expectation directly pressures near-term revenue and margins, a likely catalyst for today’s selloff. UBS sees tough Q4 for Best Buy

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.