Commerzbank Aktiengesellschaft FI Purchases 3,878 Shares of Best Buy Co., Inc. $BBY

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in Best Buy Co., Inc. by 62.1%, acquiring an additional 3,878 shares, bringing their total holdings to 10,125 shares valued at approximately $680,000.
• Best Buy recently announced a quarterly dividend of $0.95 per share, representing a 5.4% yield, despite a payout ratio of 104.97%.
• Best Buy's Q2 earnings surpassed analyst expectations, reporting $1.28 EPS, with revenue of $9.44 billion, marking a 1.6% year-over-year increase.

Commerzbank Aktiengesellschaft FI raised its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 62.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,125 shares of the technology retailer's stock after acquiring an additional 3,878 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Best Buy were worth $680,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. IFM Investors Pty Ltd lifted its stake in Best Buy by 6.6% during the second quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer's stock worth $3,284,000 after purchasing an additional 3,040 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 purchasing an additional 13,378 shares during the period. Blackhawk Capital Partners LLC. bought a new position in Best Buy during the first quarter worth about $1,574,000. Alberta Investment Management Corp increased its holdings in shares of Best Buy by 25.6% during the first quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer's stock worth $2,422,000 after buying an additional 6,700 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its holdings in shares of Best Buy by 191.9% during the first quarter. Focus Partners Advisor Solutions LLC now owns 10,714 shares of the technology retailer's stock worth $789,000 after buying an additional 7,043 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

Best Buy Stock Down 6.2%

Best Buy stock opened at $70.53 on Friday. The firm has a market capitalization of $14.82 billion, a PE ratio of 19.48, a P/E/G ratio of 1.98 and a beta of 1.23. The company's 50-day moving average is $73.70 and its 200-day moving average is $70.12. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $99.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. The company had revenue of $9.44 billion for 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%. Best Buy's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $3.80 annualized dividend and a dividend yield of 5.4%. Best Buy's payout ratio is presently 104.97%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Best Buy from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Guggenheim reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Best Buy in a research note on Friday, August 29th. Wedbush raised their price objective 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. Telsey Advisory Group reissued an "outperform" rating and set a $90.00 price target on shares of Best Buy in a research report on Friday, August 29th. Finally, Wall Street Zen raised shares of Best Buy from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Best Buy currently has an average rating of "Hold" and a consensus target price of $81.69.

Insider Activity

In other Best Buy news, Chairman Richard M. Schulze sold 196,100 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 2,018 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the transaction, the chief accounting officer owned 20,132 shares in the company, valued at approximately $1,545,332.32. The trade was a 9.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,833 shares of company stock valued at $14,941,472 in the last ninety days. 0.47% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.