APG Asset Management N.V. Sells 3,600 Shares of Best Buy Co., Inc. $BBY

Key Points

• APG Asset Management N.V. reduced its stake in Best Buy Co., Inc. by 3.3% during Q1, selling 3,600 shares to hold 105,900 shares valued at approximately $7.2 million.
• Several hedge funds have increased their holdings in Best Buy, with Charles Schwab Investment Management Inc. raising its stake by 6.2% during the same quarter.
• Wall Street analysts have mixed views on Best Buy, with price targets ranging from $67 to $90, and an overall consensus rating of "Hold" with a target price of $84.50.

APG Asset Management N.V. cut its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,900 shares of the technology retailer's stock after selling 3,600 shares during the period. APG Asset Management N.V. owned 0.05% of Best Buy worth $7,217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Best Buy by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer's stock valued at $512,986,000 after purchasing an additional 408,605 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Best Buy by 6.4% in the first quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer's stock valued at $289,051,000 after purchasing an additional 234,669 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Best Buy by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer's stock valued at $240,173,000 after purchasing an additional 105,710 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Best Buy by 31.3% in the fourth quarter. Northern Trust Corp now owns 2,942,832 shares of the technology retailer's stock valued at $252,495,000 after purchasing an additional 701,287 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Best Buy by 9.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,605,902 shares of the technology retailer's stock valued at $223,586,000 after purchasing an additional 215,265 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Wall Street Analysts Forecast Growth

BBY has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on shares of Best Buy from $75.00 to $67.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. UBS Group lowered their price target on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 30th. Guggenheim reissued a "buy" rating and issued a $90.00 price target on shares of Best Buy in a report on Tuesday, June 10th. Barclays lowered their target price on shares of Best Buy from $89.00 to $74.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $90.00 target price on shares of Best Buy in a report on Friday. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Best Buy has an average rating of "Hold" and a consensus target price of $84.50.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard M. Schulze sold 729,201 shares of Best Buy stock in a transaction on Monday, June 9th. The shares were sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the transaction, the chairman directly owned 196,100 shares of the company's stock, valued at $14,305,495. This trade represents a 78.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Best Buy Price Performance

BBY opened at $74.30 on Tuesday. The company has a fifty day moving average price of $69.36 and a two-hundred day moving average price of $71.62. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 1.02. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.71. The firm has a market capitalization of $15.70 billion, a PE ratio of 18.17, a P/E/G ratio of 1.99 and a beta of 1.21.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.06. The company had revenue of $8.77 billion for the quarter, compared to analysts' expectations of $8.77 billion. Best Buy had a net margin of 2.13% and a return on equity of 46.40%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Wednesday, June 18th. Best Buy's dividend payout ratio (DPR) is currently 92.91%.

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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