Mn Services Vermogensbeheer B.V. Acquires 4,500 Shares of Best Buy Co., Inc. $BBY

Key Points

• Mn Services Vermogensbeheer B.V. increased its holdings in Best Buy Co., Inc. by 6.4%, now owning 75,025 shares worth approximately $5.03 million.
• Insiders, including Chairman Richard M. Schulze, sold significant shares recently, with Schulze's transaction totaling over $14.5 million.
• Best Buy announced a quarterly dividend of $0.95 per share, set to be paid on October 9th, equating to an annualized yield of 5.3%.

Mn Services Vermogensbeheer B.V. boosted its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,025 shares of the technology retailer's stock after buying an additional 4,500 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Best Buy were worth $5,036,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Best Buy by 11.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,672 shares of the technology retailer's stock worth $2,865,000 after buying an additional 4,285 shares during the last quarter. Jackson Square Capital LLC bought a new stake in shares of Best Buy during the 2nd quarter valued at about $385,000. Procyon Advisors LLC grew its stake in shares of Best Buy by 151.0% during the 2nd quarter. Procyon Advisors LLC now owns 14,064 shares of the technology retailer's stock valued at $944,000 after purchasing an additional 8,460 shares during the period. Pallas Capital Advisors LLC grew its stake in shares of Best Buy by 34.0% during the 2nd quarter. Pallas Capital Advisors LLC now owns 9,114 shares of the technology retailer's stock valued at $612,000 after purchasing an additional 2,310 shares during the period. Finally, Czech National Bank grew its stake in shares of Best Buy by 5.4% during the 2nd quarter. Czech National Bank now owns 47,086 shares of the technology retailer's stock valued at $3,161,000 after purchasing an additional 2,410 shares during the period. Hedge funds and other institutional investors own 80.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BBY. JPMorgan Chase & Co. boosted their price target on Best Buy from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Telsey Advisory Group restated an "outperform" rating and set a $90.00 price target on shares of Best Buy in a research note on Friday, August 29th. Barclays restated an "equal weight" rating and set a $74.00 price target on shares of Best Buy in a research note on Friday, August 29th. Evercore ISI boosted their price target 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. Finally, UBS Group cut their price objective on Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Best Buy has a consensus rating of "Hold" and a consensus target price of $81.50.

Best Buy Price Performance

Shares of BBY traded up $1.25 during mid-day trading on Tuesday, hitting $73.58. 1,056,567 shares of the stock were exchanged, compared to its average volume of 3,645,856. The firm has a 50-day moving average of $71.39 and a two-hundred day moving average of $69.93. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $103.48. The company has a market cap of $15.46 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04.

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 the consensus estimate of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same quarter in the prior year, the firm posted $1.34 EPS. Best Buy's quarterly revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 is Thursday, September 18th. Best Buy's dividend payout ratio is presently 104.97%.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 196,100 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total transaction of $14,511,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 2,018 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total value of $154,901.68. Following the sale, the chief accounting officer owned 20,132 shares in the company, valued at $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 worth $14,941,472 in the last 90 days. 0.59% 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.