5,031 Shares in Best Buy Co., Inc. $BBY Acquired by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd acquired 5,031 shares of Best Buy Co., Inc. valued at approximately $370,000 during the first quarter, contributing to a growing interest from institutional investors.
• Best Buy's quarterly earnings report revealed an EPS of $1.28, beating expectations and showcasing a 1.6% revenue growth year-over-year, with a revenue of $9.44 billion.
• Several analysts have given mixed ratings on Best Buy, with price targets ranging from $60 to $90, reflecting a consensus overall rating of "Hold" with an average target price of $82.59.

Dynamic Technology Lab Private Ltd purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,031 shares of the technology retailer's stock, valued at approximately $370,000.

A number of other large investors have also added to or reduced their stakes in BBY. Pacer Advisors Inc. grew its position in Best Buy by 3,890.0% during the first quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer's stock worth $75,353,000 after buying an additional 998,021 shares in the last quarter. AQR Capital Management LLC grew its position in Best Buy by 36.5% during the first quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer's stock worth $181,357,000 after buying an additional 671,408 shares in the last quarter. Nuveen LLC acquired a new stake in Best Buy during the first quarter worth approximately $39,579,000. Charles Schwab Investment Management Inc. increased its holdings in Best Buy by 6.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer's stock valued at $512,986,000 after buying an additional 408,605 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Best Buy in the 4th quarter valued at about $29,090,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BBY shares. Citigroup reissued a "buy" rating on shares of Best Buy in a report on Thursday, August 28th. Wedbush upped their target price on Best Buy from $70.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Telsey Advisory Group restated an "outperform" rating and set a $90.00 target price on shares of Best Buy in a research note on Friday, August 29th. Barclays restated an "equal weight" rating and set a $74.00 target price on shares of Best Buy in a research note on Friday, August 29th. Finally, Bank of America cut their target price on Best Buy from $63.00 to $60.00 and set an "underperform" rating for the company in a research note on Friday, August 29th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $82.59.

Best Buy Stock Up 2.4%

Shares of BBY opened at $78.44 on Friday. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.48. The stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.02 and a beta of 1.19. 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 stock has a fifty day moving average of $71.11 and a 200-day moving average of $70.60.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The company had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.23 billion. During the same period in the prior year, the company earned $1.34 EPS. Best Buy's revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be given a dividend of $0.95 per share. The ex-dividend date is Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 4.8%. Best Buy's dividend payout ratio (DPR) is currently 104.97%.

Insider Activity at Best Buy

In related news, CAO Mathew Watson sold 2,018 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the transaction, the chief accounting officer directly owned 20,132 shares of the company's stock, valued at $1,545,332.32. This trade represents a 9.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 196,100 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,833 shares of company stock worth $14,941,472. 0.47% of the stock is owned by corporate insiders.

Best Buy Company 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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