Net Worth Advisory Group Acquires New Stake in Best Buy Co., Inc. $BBY

20 Oct 2026, 11:21 by Danessa Lincoln · The Markets Daily

Net Worth Advisory Group bought a new stake in Best Buy Co., Inc. (NYSE:BBY – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,440 shares of the technology retailer’s stock, valued at approximately $921,000.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. purchased a new position in Best Buy in the 2nd quarter worth approximately $1,932,812,000. Bank of New York Mellon Corp bought a new stake in shares of Best Buy during the 2nd quarter worth $174,893,000. Hsbc Holdings PLC lifted its holdings in shares of Best Buy by 104.1% during the 4th quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer’s stock worth $135,685,000 after acquiring an additional 1,030,544 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Best Buy during the 2nd quarter worth $116,003,000. Finally, KBC Group NV grew its position in Best Buy by 50.5% in the first quarter. KBC Group NV now owns 1,584,803 shares of the technology retailer’s stock worth $101,745,000 after acquiring an additional 531,998 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BBY has been the topic of a number of research analyst reports. Telsey Advisory Group increased their target price on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Guggenheim lifted their price target on Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Evercore upped their price objective on Best Buy from $85.00 to $90.00 in a report on Tuesday, September 29th. Citigroup increased their price objective on Best Buy from $79.00 to $88.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Finally, The Goldman Sachs Group boosted their target price on Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.65.

Read Our Latest Stock Analysis on Best Buy

Insider Activity

In related news, EVP Kathleen Scarlett sold 116,062 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $92.15, for a total transaction of $10,695,113.30. Following the transaction, the executive vice president directly owned 116,173 shares in the company, valued at $10,705,341.95. This trade represents a 49.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard Schulze sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total value of $27,753,000.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.50% of the company’s stock.

Best Buy Stock Performance

Best Buy stock opened at $91.06 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $19.10 billion, a PE ratio of 13.70, a P/E/G ratio of 2.31 and a beta of 1.26. The firm has a fifty day simple moving average of $88.35 and a two-hundred day simple moving average of $77.77. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $96.53.

Best Buy (NYSE:BBY – Get Free Report) last posted its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.08. The business had revenue of $9.78 billion during the quarter, compared to analyst estimates of $9.59 billion. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Research analysts expect that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were issued a dividend of $0.96 per share. The ex-dividend date was Thursday, September 17th. This represents a $3.84 annualized dividend and a yield of 4.2%. Best Buy’s dividend payout ratio is currently 63.89%.

Best Buy Company Profile

(Free Report)

Best Buy Co, Inc is a specialty retailer of technology products and services headquartered in Richfield, Minnesota. The company sells consumer electronics, computing and mobile products, entertainment products, appliances, furniture, and related accessories through its retail stores, websites, and other sales channels.

Best Buy also provides technology-related services, including product installation, repair, technical support, delivery, and in-home consultation. Its services are offered through brands and operations such as Geek Squad, while the company also provides membership and protection programs designed to support customers after purchase.

The company serves customers primarily in the United States and Canada.