Best Buy Co., Inc. $BBY Shares Acquired by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in Best Buy Co., Inc. by 166.9% in Q2, acquiring an additional 48,874 shares valued at approximately $5.25 million.
• Best Buy reported an earnings per share (EPS) of $1.28 for the most recent quarter, exceeding analysts' estimates by $0.06, with revenues rising to $9.44 billion.
• The company announced a quarterly dividend of $0.95, set to be paid on October 9th, which yields 5.1% annually.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 166.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,164 shares of the technology retailer's stock after purchasing an additional 48,874 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Best Buy were worth $5,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Community Bank & Trust Waco Texas raised its stake in shares of Best Buy by 0.5% in the 1st quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer's stock valued at $2,280,000 after purchasing an additional 145 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Best Buy by 25.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer's stock worth $53,000 after acquiring an additional 147 shares during the period. HB Wealth Management LLC raised its stake in Best Buy by 2.4% during the first quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer's stock worth $467,000 after acquiring an additional 149 shares during the period. Townsquare Capital LLC raised its stake in Best Buy by 2.5% during the first quarter. Townsquare Capital LLC now owns 6,162 shares of the technology retailer's stock worth $454,000 after acquiring an additional 153 shares during the period. Finally, Bailard Inc. raised its stake in Best Buy by 0.7% during the first quarter. Bailard Inc. now owns 21,965 shares of the technology retailer's stock worth $1,617,000 after acquiring an additional 157 shares during the period. Institutional investors and hedge funds own 80.96% of the company's stock.

Best Buy Trading Up 1.5%

Shares of NYSE:BBY opened at $74.11 on Thursday. The company has a 50 day moving average price of $71.61 and a 200 day moving average price of $69.98. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.48. 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 market capitalization of $15.57 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.92 and a beta of 1.19.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The company'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. On average, research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be paid a $0.95 dividend. The ex-dividend date is Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.1%. Best Buy's dividend payout ratio (DPR) is presently 104.97%.

Analysts Set New Price Targets

BBY has been the topic of several research reports. Evercore ISI increased their price objective on shares of Best Buy from $75.00 to $77.00 and gave the stock an "in-line" rating in a research note on Friday, August 29th. Barclays reiterated an "equal weight" rating and set a $74.00 price objective on shares of Best Buy in a research note on Friday, August 29th. Citigroup restated a "buy" rating on shares of Best Buy in a research note on Thursday, August 28th. Bank of America dropped their price target on shares of Best Buy from $63.00 to $60.00 and set an "underperform" rating on the stock in a research note on Friday, August 29th. Finally, Piper Sandler restated a "neutral" rating and issued a $75.00 price target (down previously from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Best Buy currently has a consensus rating of "Hold" and a consensus price target of $81.50.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 3,715 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the sale, the chief accounting officer directly owned 22,150 shares in the company, valued at $1,640,650.50. This trade represents a 14.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $14,511,400.00. The disclosure for this sale can be found here. Insiders sold a total of 201,833 shares of company stock worth $14,941,472 over the last quarter. 0.47% of the stock is currently owned by company insiders.

Best Buy 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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