Best Buy Co., Inc. $BBY Shares Sold by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH decreased its stake in Best Buy by 5.9%, owning 70,800 shares after selling 4,400 shares in the first quarter.
• Best Buy reported $1.15 EPS for the last quarter, exceeding estimates, but showed a 0.9% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.95 per share, representing an annual yield of 5.3% with a payout ratio of 92.91%.

Erste Asset Management GmbH lowered its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 5.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,800 shares of the technology retailer's stock after selling 4,400 shares during the period. Erste Asset Management GmbH's holdings in Best Buy were worth $5,129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BBY. Freedom Investment Management Inc. boosted its stake in Best Buy by 27.1% during the fourth quarter. Freedom Investment Management Inc. now owns 2,531 shares of the technology retailer's stock worth $217,000 after buying an additional 540 shares during the last quarter. Norinchukin Bank The boosted its stake in Best Buy by 8.3% during the fourth quarter. Norinchukin Bank The now owns 8,684 shares of the technology retailer's stock worth $745,000 after buying an additional 667 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Best Buy by 1.3% during the fourth quarter. MetLife Investment Management LLC now owns 52,069 shares of the technology retailer's stock worth $4,468,000 after buying an additional 693 shares during the last quarter. MML Investors Services LLC boosted its stake in Best Buy by 2.7% during the fourth quarter. MML Investors Services LLC now owns 15,169 shares of the technology retailer's stock worth $1,301,000 after buying an additional 400 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in Best Buy by 130.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 921 shares of the technology retailer's stock worth $79,000 after buying an additional 522 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Best Buy Price Performance

BBY opened at $72.3470 on Thursday. The stock's 50-day moving average price is $69.19 and its 200 day moving average price is $72.04. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.71. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. The firm has a market cap of $15.29 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.96 and a beta of 1.21.

Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.06. Best Buy had a return on equity of 46.40% and a net margin of 2.13%.The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.77 billion. During the same quarter in the prior year, the company earned $1.20 EPS. Best Buy's revenue was down .9% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 19th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.80 annualized dividend and a yield of 5.3%. Best Buy's dividend payout ratio is presently 92.91%.

Analysts Set New Price Targets

BBY has been the topic of several recent analyst reports. Wedbush decreased their price target on Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Guggenheim reaffirmed a "buy" rating and issued a $90.00 price target on shares of Best Buy in a research note on Tuesday, June 10th. UBS Group decreased their price target on Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Barclays decreased their price target on Best Buy from $89.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $90.00 price target on shares of Best Buy in a research note on Friday, May 30th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $85.72.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 729,201 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $14,305,495. This represents a 78.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.

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