Mirae Asset Global Investments Co. Ltd. Has $17.54 Million Stake in Best Buy Co., Inc. $BBY

Mirae Asset Global Investments Co. Ltd. boosted its position in Best Buy Co., Inc. (NYSE:BBY) by 5.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 231,927 shares of the technology retailer’s stock after purchasing an additional 11,018 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.11% of Best Buy worth $17,538,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sage Private Wealth Group LLC lifted its holdings in Best Buy by 3.1% during the 3rd quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock worth $311,000 after purchasing an additional 123 shares during the last quarter. LVW Advisors LLC lifted its holdings in shares of Best Buy by 3.9% during the third quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock worth $275,000 after buying an additional 137 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Best Buy by 69.3% in the third 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 during the period. Panagora Asset Management Inc. grew its stake in shares of Best Buy by 1.5% in the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after acquiring an additional 144 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Best Buy by 2.1% during the third quarter. GAMMA Investing LLC now owns 7,220 shares of the technology retailer’s stock worth $546,000 after acquiring an additional 150 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Down 0.1%

NYSE BBY opened at $65.06 on Friday. The stock has a market capitalization of $13.63 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.65 and a beta of 1.41. The business has a 50 day simple moving average of $70.83 and a 200 day simple moving average of $73.20. 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 Co., Inc. has a one year low of $54.99 and a one year high of $91.68.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. The firm had revenue of $9.67 billion during the quarter, compared to analyst estimates of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) is presently 125.83%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BBY. Wall Street Zen downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Wedbush restated a “neutral” rating and set a $75.00 target price on shares of Best Buy in a research note on Thursday, November 20th. JPMorgan Chase & Co. raised their target price on Best Buy from $97.00 to $99.00 in a report on Tuesday, November 25th. The Goldman Sachs Group decreased their price target on Best Buy from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Finally, Piper Sandler raised their price objective on Best Buy from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $83.37.

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.