UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Decreases Stock Holdings in Best Buy Co., Inc. $BBY

Key Points

• UBS Asset Management decreased its stake in Best Buy by 0.4%, resulting in ownership of approximately 2.6 million shares valued at about $190.98 million.
• Best Buy reported earnings of $1.28 per share, beating expectations and showing a year-over-year revenue growth of 1.6%.
• The company announced a quarterly dividend of $0.95 per share, reflecting a 4.8% yield, with a payout ratio of 104.97%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC trimmed its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,594,479 shares of the technology retailer's stock after selling 11,423 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 1.23% of Best Buy worth $190,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Best Buy by 7.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,960 shares of the technology retailer's stock worth $14,560,000 after buying an additional 13,378 shares during the period. GAMMA Investing LLC lifted its stake in shares of Best Buy by 5,519.3% during the 1st quarter. GAMMA Investing LLC now owns 173,131 shares of the technology retailer's stock worth $12,744,000 after purchasing an additional 170,050 shares during the last quarter. Rhumbline Advisers boosted its position in Best Buy by 10.2% during the first quarter. Rhumbline Advisers now owns 502,272 shares of the technology retailer's stock valued at $36,972,000 after purchasing an additional 46,645 shares in the last quarter. Blackhawk Capital Partners LLC. purchased a new position in Best Buy in the first quarter valued at about $1,574,000. Finally, Alberta Investment Management Corp raised its holdings in Best Buy by 25.6% in the first quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer's stock worth $2,422,000 after purchasing an additional 6,700 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 2,018 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the sale, the chief accounting officer directly owned 20,132 shares of the company's stock, valued at $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. Insiders sold 201,833 shares of company stock worth $14,941,472 in the last 90 days. Company insiders own 0.59% of the company's stock.

Best Buy Stock Performance

Best Buy stock traded down $1.29 during trading hours on Monday, hitting $74.58. 2,713,234 shares of the stock traded hands, compared to its average volume of 3,645,421. The firm's 50 day moving average price is $71.19 and its 200-day moving average price is $70.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 2.00 and a beta of 1.19. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $103.48.

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

Best Buy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BBY. UBS Group lowered their price target on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Telsey Advisory Group restated an "outperform" rating and issued a $90.00 target price on shares of Best Buy in a research note on Friday, August 29th. Truist Financial lifted their price target on shares of Best Buy from $69.00 to $72.00 and gave the stock a "hold" rating in a report on Friday, August 29th. Piper Sandler reiterated a "neutral" rating and set a $75.00 price objective (down previously from $82.00) on shares of Best Buy in a report on Monday, July 14th. Finally, Evercore ISI raised 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 equities research 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $82.59.

About Best Buy

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.