Best Buy Co., Inc. $BBY Shares Sold by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. reduced its holdings in Best Buy by 14.8%, owning 19,978 shares worth approximately $1.34 million after selling 3,468 shares in the second quarter.
• Several institutional investors significantly increased their stakes, with Pacer Advisors Inc. boosting holdings by 3,890% to over 1 million shares.
• The company declared a quarterly dividend of $0.95 per share, indicating an annualized yield of 4.9%, despite a payout ratio of 104.97%.

ASR Vermogensbeheer N.V. decreased its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 14.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,978 shares of the technology retailer's stock after selling 3,468 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Best Buy were worth $1,341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings 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 buying an additional 998,021 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Best Buy by 36.5% in the first quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer's stock valued at $181,357,000 after purchasing an additional 671,408 shares during the last quarter. Nuveen LLC acquired a new stake in Best Buy during the first quarter worth approximately $39,579,000. Charles Schwab Investment Management Inc. boosted its position in Best Buy by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer's stock worth $512,986,000 after acquiring an additional 408,605 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Best Buy by 40.6% during the first quarter. Canada Pension Plan Investment Board now owns 874,538 shares of the technology retailer's stock worth $64,375,000 after acquiring an additional 252,544 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BBY shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Best Buy in a research note on Saturday, September 27th. Bank of America cut 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. JPMorgan Chase & Co. raised their target price on shares of Best Buy from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Wedbush raised their target price on shares of Best Buy from $70.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Finally, Wall Street Zen raised shares of Best Buy from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $81.50.

Insiders Place Their Bets

In related news, CAO Mathew Watson sold 2,018 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the sale, the chief accounting officer directly owned 20,132 shares of the company's stock, valued at approximately $1,545,332.32. This trade represents a 9.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were 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. Over the last ninety days, insiders have sold 201,833 shares of company stock valued at $14,941,472. Company insiders own 0.47% of the company's stock.

Best Buy Price Performance

BBY opened at $76.91 on Friday. The company has a fifty day simple moving average of $72.81 and a 200 day simple moving average of $70.08. The firm has a market cap of $16.16 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.02 and a beta of 1.23. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $101.04. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43.

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

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy's dividend payout ratio (DPR) is presently 104.97%.

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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