Best Buy Co., Inc. $BBY Stake Increased by Boston Partners

Boston Partners increased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,049 shares of the technology retailer’s stock after buying an additional 1,483 shares during the quarter. Boston Partners’ holdings in Best Buy were worth $1,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of BBY. IFM Investors Pty Ltd increased its holdings in shares of Best Buy by 6.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer’s stock valued at $3,284,000 after purchasing an additional 3,040 shares during the period. Alberta Investment Management Corp grew its position in Best Buy by 25.6% during the first quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer’s stock valued at $2,422,000 after purchasing an additional 6,700 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its stake in Best Buy by 191.9% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 10,714 shares of the technology retailer’s stock valued at $789,000 after buying an additional 7,043 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Best Buy in the 1st quarter worth approximately $370,000. Finally, Conning Inc. boosted its stake in shares of Best Buy by 5.4% during the 2nd quarter. Conning Inc. now owns 479,055 shares of the technology retailer’s stock valued at $32,159,000 after buying an additional 24,741 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 2,018 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the sale, the chief accounting officer directly owned 20,132 shares in the company, valued at $1,545,332.32. This represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 500,000 shares of Best Buy stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $80.83, for a total value of $40,415,000.00. Following the completion of the transaction, the chairman owned 12,486,904 shares in the company, valued at $1,009,316,450.32. The trade was a 3.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,733,111 shares of company stock valued at $141,293,157. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

BBY has been the topic of a number of research reports. Piper Sandler upped their price target on shares of Best Buy from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Guggenheim reaffirmed a “buy” rating and issued a $90.00 target price on shares of Best Buy in a research report on Wednesday, November 26th. Telsey Advisory Group lifted their price target on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, November 26th. Jefferies Financial Group lowered their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Finally, Daiwa Capital Markets raised their price objective on shares of Best Buy from $76.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Best Buy has an average rating of “Hold” and an average price target of $84.28.

Best Buy Stock Down 2.0%

Shares of BBY stock opened at $79.40 on Monday. The stock’s 50 day simple moving average is $77.97 and its 200 day simple moving average is $73.41. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $91.72. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating the consensus estimate of $1.31 by $0.09. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The company had revenue of $9.67 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the company posted $1.26 earnings per share. 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. As a group, research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 4.8%. The ex-dividend date is Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) is 125.83%.

About Best Buy

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.