Dimensional Fund Advisors LP Has $240.17 Million Stock Holdings in Best Buy Co., Inc. $BBY

Key Points

• Dimensional Fund Advisors LP increased its stake in Best Buy by 3.3%, owning over 3.26 million shares valued at approximately $240 million.
• Best Buy announced a quarterly dividend of $0.95 per share, representing an annual yield of 5.3%, with a payout ratio of 92.91%.
• Wall Street analysts have varied ratings on Best Buy, with eight analysts recommending a "Buy" and an average price target of $85.72.

Dimensional Fund Advisors LP boosted its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,263,142 shares of the technology retailer's stock after buying an additional 105,710 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.54% of Best Buy worth $240,173,000 as of its most recent filing with the SEC.

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

Insider Activity

In related news, Chairman Richard M. Schulze sold 729,201 shares of the company's stock in a transaction dated 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 transaction, the chairman directly owned 196,100 shares in the company, valued at approximately $14,305,495. This represents a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $75.00 target price (down previously from $82.00) on shares of Best Buy in a research report on Monday, July 14th. Loop Capital decreased their price target on Best Buy from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Barclays lowered their price target on Best Buy from $89.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Telsey Advisory Group reissued an "outperform" rating and issued a $90.00 price objective on shares of Best Buy in a report on Friday. Finally, Truist Financial raised their target price on shares of Best Buy from $64.00 to $69.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $84.50.

Best Buy Stock Performance

BBY stock traded up $3.0160 during midday trading on Friday, reaching $75.4060. 2,914,635 shares of the company were exchanged, compared to its average volume of 3,611,278. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $103.71. The firm has a market capitalization of $15.94 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.91 and a beta of 1.21. The business has a 50-day moving average price of $69.18 and a two-hundred day moving average price of $71.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.32.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.06. Best Buy had a net margin of 2.13% and a return on equity of 46.40%. The firm had revenue of $8.77 billion for the quarter, compared to analysts' expectations of $8.77 billion. During the same period in the prior year, the firm earned $1.20 EPS. The business'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. Equities research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.0%. Best Buy's dividend payout ratio (DPR) is currently 92.91%.

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.