Best Buy Co., Inc. $BBY Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Best Buy Co., Inc. by 20.2% during the first quarter, now holding 58,872 shares valued at $4.33 million.
• Institutional investors and hedge funds own 80.96% of Best Buy's stock, with several firms recently boosting their positions significantly.
• Best Buy announced a quarterly dividend of $0.95 per share, representing an annualized dividend of $3.80 and a yield of 4.8%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 20.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,872 shares of the technology retailer's stock after acquiring an additional 9,905 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Best Buy were worth $4,334,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BBY. Pacer Advisors Inc. raised its position in shares of Best Buy by 3,890.0% during the 1st quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer's stock worth $75,353,000 after purchasing an additional 998,021 shares during the last quarter. AQR Capital Management LLC lifted its stake in Best Buy by 36.5% in the 1st quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer's stock valued at $181,357,000 after buying an additional 671,408 shares in the last quarter. Nuveen LLC purchased a new stake in Best Buy in the 1st quarter valued at approximately $39,579,000. Charles Schwab Investment Management Inc. lifted its stake in Best Buy by 6.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer's stock valued at $512,986,000 after buying an additional 408,605 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Best Buy in the 4th quarter valued at approximately $29,090,000. Hedge funds and other institutional investors own 80.96% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Richard M. Schulze sold 196,100 shares of the firm's stock in a transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Mathew Watson sold 3,715 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the transaction, the chief accounting officer directly owned 22,150 shares in the company, valued at approximately $1,640,650.50. This represents a 14.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 201,833 shares of company stock worth $14,941,472. Insiders own 0.59% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BBY. Citigroup reaffirmed a "buy" rating on shares of Best Buy in a research note on Thursday, August 28th. Truist Financial upped their target price on Best Buy from $69.00 to $72.00 and gave the company a "hold" rating in a research note on Friday, August 29th. Evercore ISI upped their target price on Best Buy from $75.00 to $77.00 and gave the company an "in-line" rating in a research note on Friday, August 29th. UBS Group reduced their target price 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. Finally, Barclays reissued an "equal weight" rating and set a $74.00 price target on shares of Best Buy in a research note on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $82.59.

Best Buy Trading Down 1.7%

Shares of Best Buy stock traded down $1.29 during trading hours on Monday, reaching $74.58. 2,713,129 shares of the company's stock were exchanged, compared to its average volume of 3,645,421. The firm has a market capitalization of $15.67 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.00 and a beta of 1.19. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average of $71.19 and a 200-day moving average of $70.24. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $103.48.

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

Best Buy Announces Dividend

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

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.