Wellington Management Group LLP Boosts Stock Holdings 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 boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 106.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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.

Several other hedge funds have also recently bought and sold shares of BBY. Pacer Advisors Inc. lifted 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 acquiring an additional 998,021 shares during the last quarter. Nuveen LLC acquired a new position in shares of Best Buy during the 1st quarter worth approximately $39,579,000. Charles Schwab Investment Management Inc. grew its position in shares of Best Buy by 6.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer's stock worth $512,986,000 after purchasing an additional 408,605 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Best Buy during the 4th quarter worth approximately $29,090,000. Finally, Invesco Ltd. lifted its holdings in shares of Best Buy by 6.4% during the 1st quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer's stock worth $289,051,000 after acquiring an additional 234,669 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In related 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 value of $53,195,212.95. Following the completion of the sale, the chairman owned 196,100 shares of the company's stock, valued at approximately $14,305,495. This trade represents a 78.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.59% of the company's stock.

Best Buy Trading Up 1.0%

Shares of BBY stock traded up $0.75 during trading hours on Tuesday, hitting $74.39. 4,837,632 shares of the company were exchanged, compared to its average volume of 3,465,060. The firm has a market cap of $15.72 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.95 and a beta of 1.19. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.32 and a current ratio of 1.04. The company has a 50 day simple moving average of $69.97 and a two-hundred day simple moving average of $71.11.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. The company had revenue of $9.44 billion during 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%. The company's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Equities analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The firm 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 $0.95 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 5.1%. Best Buy's dividend payout ratio (DPR) is presently 104.97%.

Wall Street Analysts Forecast Growth

BBY has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on shares of Best Buy from $67.00 to $75.00 and gave the company a "buy" rating in a research report on Friday. Evercore ISI lifted their price target on shares of Best Buy from $75.00 to $77.00 and gave the company an "in-line" rating in a report on Friday. Citigroup reaffirmed a "buy" rating on shares of Best Buy in a report on Thursday, August 28th. Barclays restated an "equal weight" rating and issued a $74.00 target price on shares of Best Buy in a research report on Friday. Finally, Bank of America cut their target price on shares of Best Buy from $63.00 to $60.00 and set an "underperform" rating on the stock in a research report on Friday. Ten investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $84.44.

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.