Wellington Management Group LLP Grows Stock Position in Best Buy Co., Inc. $BBY

Key Points

• Wellington Management Group LLP increased its stake in Best Buy by 106.7%, now owning 11,744 shares valued at approximately $864,000.
• Various institutional investors have raised their holdings in Best Buy, collectively owning 80.96% of the company's stock.
• Best Buy recently announced a quarterly dividend of $0.95 with a yield of 5.2%, set to be paid on October 9th.

Wellington Management Group LLP raised its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 106.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,744 shares of the technology retailer's stock after buying an additional 6,061 shares during the quarter. Wellington Management Group LLP's holdings in Best Buy were worth $864,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BBY. LRI Investments LLC grew its position in Best Buy by 36.3% during the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock valued at $45,000 after acquiring an additional 141 shares during the period. Community Bank & Trust Waco Texas boosted its stake in shares of Best Buy by 0.5% during the 1st quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer's stock worth $2,280,000 after acquiring an additional 145 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of 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 in the last quarter. HB Wealth Management LLC increased its stake in shares of Best Buy by 2.4% in the first quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer's stock worth $467,000 after purchasing an additional 149 shares during the period. Finally, Townsquare Capital LLC increased 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 valued at $454,000 after acquiring an additional 153 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Performance

NYSE BBY traded down $0.04 during trading hours on Friday, hitting $77.01. The company had a trading volume of 622,120 shares, compared to its average volume of 3,660,260. The business has a 50 day moving average of $70.38 and a 200-day moving average of $71.06. 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 company has a market cap of $16.28 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19.

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

Best Buy Dividend Announcement

The business also recently declared 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 4.9%. Best Buy's dividend payout ratio is 104.97%.

Analysts Set New Price Targets

Several analysts have commented on BBY shares. Wells Fargo & Company raised their target price on shares of Best Buy from $67.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Wedbush increased their price target on Best Buy from $70.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Telsey Advisory Group restated an "outperform" rating and issued a $90.00 price objective on shares of Best Buy in a research note on Friday, August 29th. Citigroup reaffirmed a "buy" rating on shares of Best Buy in a report on Thursday, August 28th. Finally, Evercore ISI lifted their price objective on Best Buy from $75.00 to $77.00 and gave the stock an "in-line" rating in a research report on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Best Buy currently has an average rating of "Hold" and an average price target of $82.59.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the transaction, the chief accounting officer owned 22,150 shares of the company's stock, valued at $1,640,650.50. This trade represents a 14.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 729,201 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the transaction, the chairman owned 196,100 shares in the company, valued at approximately $14,305,495. The trade was a 78.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 929,016 shares of company stock worth $67,981,783. Corporate insiders own 0.47% of the company's stock.

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.