Achmea Investment Management B.V. Buys 81,720 Shares of Best Buy Co., Inc. $BBY

Achmea Investment Management B.V. increased its stake in Best Buy Co., Inc. (NYSE:BBY) by 45.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,849 shares of the technology retailer’s stock after buying an additional 81,720 shares during the period. Achmea Investment Management B.V. owned 0.12% of Best Buy worth $19,801,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BBY. Sage Private Wealth Group LLC raised its holdings in Best Buy by 3.1% in the third 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 in the last quarter. LVW Advisors LLC boosted its stake in 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 acquiring an additional 137 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 138 shares during the period. Huntington National Bank increased its stake in shares of Best Buy by 12.0% during the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock valued at $98,000 after purchasing an additional 139 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in shares of Best Buy by 1.5% during the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after purchasing an additional 144 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company cut their target price on Best Buy from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. Morgan Stanley reduced their price target on shares of Best Buy from $76.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 4th. Evercore reissued a “buy” rating and set a $75.00 price objective on shares of Best Buy in a report on Wednesday, March 4th. Wall Street Zen cut shares of Best Buy from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, DA Davidson set a $78.00 target price on shares of Best Buy in a research report on Thursday, March 5th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Best Buy has a consensus rating of “Hold” and an average target price of $76.20.

Best Buy Stock Performance

Shares of NYSE BBY opened at $62.64 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43. The firm has a fifty day moving average price of $65.91 and a 200-day moving average price of $72.25. The stock has a market cap of $13.10 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.55 and a beta of 1.46. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $84.99.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.13. The company had revenue of $13.81 billion during the quarter, compared to analyst estimates of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.58 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th will be given a dividend of $0.96 per share. This is a positive change from Best Buy’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $3.84 dividend on an annualized basis and a yield of 6.1%. Best Buy’s payout ratio is 75.40%.

About Best Buy

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.