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Mn Services Vermogensbeheer B.V. lifted its holdings in Best Buy Co., Inc. (NYSE:BBY – Free Report) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,025 shares of the technology retailer’s stock after buying an additional 4,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Best Buy were worth $5,036,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Best Buy by 7.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,960 shares of the technology retailer’s stock worth $14,560,000 after buying an additional 13,378 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Best Buy by 5,519.3% in the 1st quarter. GAMMA Investing LLC now owns 173,131 shares of the technology retailer’s stock worth $12,744,000 after purchasing an additional 170,050 shares during the period. Rhumbline Advisers raised its holdings in shares of Best Buy by 10.2% in the 1st quarter. Rhumbline Advisers now owns 502,272 shares of the technology retailer’s stock worth $36,972,000 after purchasing an additional 46,645 shares during the period. Blackhawk Capital Partners LLC. bought a new stake in shares of Best Buy in the 1st quarter worth approximately $1,574,000. Finally, Alberta Investment Management Corp raised its holdings in shares of Best Buy by 25.6% in the 1st quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer’s stock worth $2,422,000 after purchasing an additional 6,700 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.
Insider Activity
In other news, Chairman Richard M. Schulze sold 196,100 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total transaction of $14,511,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mathew Watson sold 3,715 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the transaction, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at approximately $1,640,650.50. This trade represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,833 shares of company stock valued at $14,941,472. Insiders own 0.47% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on BBY. Truist Financial lifted their price target on shares of Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, August 29th. Wall Street Zen raised shares of Best Buy from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Argus reissued a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Loop Capital lowered their target price on shares of Best Buy from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, May 30th. Finally, UBS Group lowered their target price on shares of Best Buy from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, May 30th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Best Buy currently has a consensus rating of “Hold” and a consensus price target of $82.59.
Read Our Latest Stock Report on Best Buy
Best Buy Stock Performance
NYSE BBY opened at $72.23 on Friday. The company has a 50-day simple moving average of $71.36 and a two-hundred day simple moving average of $70.04. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.48. The firm has a market cap of $15.18 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 1.90 and a beta of 1.19.
Best Buy (NYSE:BBY – Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.
Best Buy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy’s dividend payout ratio is 104.97%.
Best Buy Profile
Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.
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