Munich Reinsurance Co Stock Corp in Munich Purchases 74,751 Shares of Best Buy Co., Inc. $BBY

Key Points

• Munich Re boosted its stake in Best Buy by 422.9% in Q4, buying an additional 74,751 shares to hold 92,428 shares worth about $6.27 million.
• Best Buy reported Q earnings that beat estimates with $2.61 EPS (vs. $2.48 expected) on $13.81 billion revenue (down 1% year-over-year) and raised its quarterly dividend to $0.96, a 6.4% yield6.30–6.60.
• Analyst sentiment is mixed with a consensus rating of "Hold" and a $74.85 price target (Goldman Sachs cut to a sell with a $59 target), while insiders sold 77,247 shares (~$4.95M) in the last three months, leaving insiders with 0.47% ownership.

Munich Reinsurance Co Stock Corp in Munich raised its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 422.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,428 shares of the technology retailer's stock after purchasing an additional 74,751 shares during the period. Munich Reinsurance Co Stock Corp in Munich's holdings in Best Buy were worth $6,269,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its position in shares of Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer's stock worth $25,000 after acquiring an additional 138 shares in the last quarter. Palisade Asset Management LLC bought a new stake in shares of Best Buy during the third quarter worth $25,000. Root Financial Partners LLC bought a new stake in shares of Best Buy during the third quarter worth $32,000. Wolff Wiese Magana LLC bought a new stake in shares of Best Buy during the fourth quarter worth $32,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Best Buy during the second quarter worth $33,000. Institutional investors own 80.96% of the company's stock.

Best Buy Stock Performance

NYSE BBY opened at $60.45 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.43 and a debt-to-equity ratio of 0.39. The firm's fifty day moving average price is $63.87 and its two-hundred day moving average price is $70.00. Best Buy Co., Inc. has a 1 year low of $59.77 and a 1 year high of $84.99. The firm has a market capitalization of $12.64 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 1.52 and a beta of 1.35.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.13. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The firm had revenue of $13.81 billion for the quarter, compared to analyst estimates of $13.96 billion. During the same period in the prior year, the firm posted $2.58 earnings per share. The company's quarterly revenue was down 1.0% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, research analysts anticipate that Best Buy Co., Inc. will post 6.5 EPS for the current year.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 6.4%. This is an increase from Best Buy's previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Tuesday, March 24th. Best Buy's payout ratio is currently 76.19%.

Analyst Ratings Changes

BBY has been the subject of several research reports. The Goldman Sachs Group downgraded shares of Best Buy from a "buy" rating to a "sell" rating and set a $59.00 price objective for the company. in a research report on Monday, April 13th. Wells Fargo & Company reduced their target price on shares of Best Buy from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Wednesday, February 18th. Daiwa Securities Group reduced their target price on shares of Best Buy from $80.00 to $68.00 and set a "neutral" rating for the company in a report on Thursday, March 5th. Wall Street Zen cut shares of Best Buy from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Best Buy in a report on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $74.85.

Insider Activity

In other Best Buy news, EVP Jason J. Bonfig sold 6,336 shares of the company's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $405,630.72. Following the sale, the executive vice president directly owned 79,137 shares of the company's stock, valued at approximately $5,066,350.74. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Matthew M. Bilunas sold 11,356 shares of the company's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $727,011.12. Following the sale, the chief financial officer directly owned 76,884 shares in the company, valued at $4,922,113.68. This trade represents a 12.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 77,247 shares of company stock valued at $4,945,353. 0.47% of the stock is owned by corporate insiders.

Best Buy Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.

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