Banco Bilbao Vizcaya Argentaria S.A. Has $8.13 Million Holdings in Best Buy Co., Inc. $BBY

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Best Buy Co., Inc. by 22.6%, owning approximately $8.13 million worth of shares after purchasing an additional 20,409 shares in Q1.
• Best Buy's most recent quarterly earnings reported an EPS of $1.15, exceeding analysts’ expectations of $1.09, although revenue decreased by 0.9% year-over-year.
• The company declared a quarterly dividend of $0.95, reflecting an annualized dividend yield of 5.1% with a payout ratio of 92.91%.

Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 22.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,648 shares of the technology retailer's stock after purchasing an additional 20,409 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A. owned about 0.05% of Best Buy worth $8,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 408,605 shares during the last quarter. Invesco Ltd. grew its position in 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 acquiring an additional 234,669 shares during the last quarter. Dimensional Fund Advisors LP grew its position in 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 acquiring an additional 105,710 shares during the last quarter. Northern Trust Corp grew its position in 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 acquiring an additional 701,287 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 acquiring an additional 215,265 shares during the last quarter. Institutional investors own 80.96% of the company's stock.

Best Buy Price Performance

Best Buy stock opened at $74.1060 on Wednesday. The stock's 50 day moving average is $69.19 and its 200 day moving average is $72.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.32. The firm has a market cap of $15.66 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.90 and a beta of 1.21. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 EPS 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 analyst estimates of $8.77 billion. Best Buy had a return on equity of 46.40% and a net margin of 2.13%.The firm's quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 19th were paid a $0.95 dividend. 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 payout ratio is currently 92.91%.

Analyst Ratings Changes

A number of research firms have issued reports on BBY. Barclays decreased their target price on Best Buy from $89.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. UBS Group decreased their target price on Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Guggenheim reiterated a "buy" rating and issued a $90.00 target price on shares of Best Buy in a research report on Tuesday, June 10th. BNP Paribas upgraded Best Buy to a "hold" rating in a report on Friday, May 30th. Finally, Wedbush reduced their price target on Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $85.72.

Insider Activity at Best Buy

In related news, Chairman Richard M. Schulze sold 729,201 shares of Best Buy stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $72.95, for a total value 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. The trade was a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

About Best Buy

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.

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.