Best Buy Co., Inc. $BBY Shares Bought by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners Inc. increased its stake in Best Buy by 5.1%, acquiring an additional 29,209 shares for a total of approximately $44.39 million.
• Several institutional investors have significantly increased their positions in Best Buy, with Pacer Advisors Inc. growing their stake by 3,890.0% to over $75 million.
• Best Buy recently declared a quarterly dividend of $0.95 per share, translating to an annual yield of 5.2%, with a payout ratio of 92.91%.

Epoch Investment Partners Inc. boosted its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 603,051 shares of the technology retailer's stock after purchasing an additional 29,209 shares during the period. Epoch Investment Partners Inc. owned approximately 0.28% of Best Buy worth $44,391,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BBY. Pinnacle Bancorp Inc. raised its stake in Best Buy by 108.5% during the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock worth $25,000 after purchasing an additional 178 shares during the period. Vermillion Wealth Management Inc. acquired a new stake in shares of Best Buy in the fourth quarter worth $31,000. Ancora Advisors LLC increased its position in shares of Best Buy by 18,700.0% in the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock worth $32,000 after acquiring an additional 374 shares in the last quarter. Grove Bank & Trust increased its position in shares of Best Buy by 67.1% in the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock worth $32,000 after acquiring an additional 173 shares in the last quarter. Finally, LRI Investments LLC increased its position in shares of Best Buy by 36.3% in the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock worth $45,000 after acquiring an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays reissued an "equal weight" rating and issued a $74.00 price objective on shares of Best Buy in a research report on Friday. Loop Capital dropped their price objective on shares of Best Buy from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, May 30th. JPMorgan Chase & Co. increased their price objective on shares of Best Buy from $88.00 to $89.00 and gave the stock an "overweight" rating in a research report on Friday. Bank of America dropped their price objective on shares of Best Buy from $63.00 to $60.00 and set an "underperform" rating for the company in a research report on Friday. Finally, BNP Paribas raised shares of Best Buy to a "hold" rating in a research report on Friday, May 30th. Ten investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $84.44.

Best Buy Stock Up 1.3%

BBY traded up $0.93 during trading hours on Friday, reaching $73.59. 4,436,142 shares of the stock traded hands, compared to its average volume of 3,543,829. The firm's fifty day simple moving average is $69.82 and its two-hundred day simple moving average is $71.35. The company has a market cap of $15.55 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 1.95 and a beta of 1.21. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.32.

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. As a group, analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

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 issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy's dividend payout ratio (DPR) is currently 92.91%.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the completion of the transaction, the chairman directly owned 196,100 shares of the company's stock, valued at $14,305,495. This trade represents a 78.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by corporate 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.