14,613 Shares in Best Buy Co., Inc. $BBY Acquired by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,613 shares of the technology retailer's stock, valued at approximately $1,109,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Woodline Partners LP grew its holdings in Best Buy by 40.1% during the 1st quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer's stock worth $1,210,000 after acquiring an additional 4,701 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Best Buy by 4.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer's stock valued at $1,984,000 after purchasing an additional 1,234 shares during the period. Investment Management Corp of Ontario raised its holdings in shares of Best Buy by 127.7% in the 2nd quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer's stock valued at $872,000 after purchasing an additional 7,288 shares in the last quarter. Ieq Capital LLC raised its holdings in shares of Best Buy by 155.4% in the 2nd quarter. Ieq Capital LLC now owns 160,568 shares of the technology retailer's stock valued at $10,779,000 after purchasing an additional 97,688 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Best Buy by 32.0% in the 2nd quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer's stock worth $21,051,000 after purchasing an additional 76,102 shares during the period. 80.96% of the stock is owned by institutional investors.

Best Buy Trading Up 0.2%

NYSE:BBY opened at $86.07 on Monday. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $91.26. The firm has a 50 day moving average of $82.15 and a 200 day moving average of $70.76. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $18.14 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.47 and a beta of 1.29.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.05. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The business had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the prior year, the firm posted $1.15 earnings per share. The business's quarterly revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.57 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were issued a dividend of $0.96 per share. The ex-dividend date was Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 4.5%. Best Buy's dividend payout ratio is 71.11%.

Insider Activity

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $73.80, for a total transaction of $131,659.20. Following the sale, the chief accounting officer owned 21,630 shares of the company's stock, valued at approximately $1,596,294. The trade was a 7.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard M. Schulze sold 500,350 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $76.12, for a total transaction of $38,086,642.00. Following the transaction, the chairman owned 10,930,586 shares in the company, valued at $832,036,206.32. The trade was a 4.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,002,134 shares of company stock worth $77,283,527. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

BBY has been the topic of a number of recent research reports. Citigroup increased their price objective on shares of Best Buy from $79.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 13th. Wells Fargo & Company boosted their price objective on shares of Best Buy from $65.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 11th. UBS Group restated a "neutral" rating and set a $86.00 target price (up from $85.00) on shares of Best Buy in a report on Friday, May 29th. Truist Financial raised Best Buy from a "hold" rating to a "buy" rating and increased their target price for the company from $81.00 to $95.00 in a research report on Tuesday, August 11th. Finally, DA Davidson reiterated a "buy" rating and issued a $90.00 price target on shares of Best Buy in a report on Monday, June 22nd. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Best Buy has an average rating of "Hold" and an average price target of $83.10.

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.

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