Munich Reinsurance Co Stock Corp in Munich Takes Position in Best Buy Co., Inc. $BBY

Key Points

• Munich Re disclosed a new position in Best Buy, acquiring 17,677 shares worth about $1.34 million during the third quarter.
• Best Buy raised its quarterly dividend to $0.96 (annualized $3.84), implying a 5.8% yield; the ex-dividend date is March 24 and the payment date is April 14.
• Analysts have a consensus Hold rating with a $76.20 target; the company recently beat EPS estimates ($2.61 vs. $2.48) but missed revenue expectations and set FY2027 guidance of $6.30–$6.60 EPS.

Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 17,677 shares of the technology retailer's stock, valued at approximately $1,337,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. grew its holdings 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 purchasing an additional 138 shares during the last quarter. Root Financial Partners LLC bought a new position in Best Buy in the 3rd quarter valued at approximately $32,000. CYBER HORNET ETFs LLC acquired a new stake in Best Buy during the 2nd quarter worth approximately $33,000. MUFG Securities EMEA plc acquired a new stake in Best Buy during the 2nd quarter worth approximately $38,000. Finally, True Wealth Design LLC grew its holdings in Best Buy by 775.3% during the 2nd quarter. True Wealth Design LLC now owns 639 shares of the technology retailer's stock worth $43,000 after acquiring an additional 566 shares during the last quarter. Institutional investors own 80.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BBY. Morgan Stanley decreased their price target on shares of Best Buy from $76.00 to $72.00 and set an "equal weight" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. cut shares of Best Buy from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $99.00 to $76.00 in a research note on Monday, February 2nd. HSBC decreased their price objective on Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. Evercore reaffirmed a "buy" rating and set a $75.00 target price on shares of Best Buy in a report on Wednesday. Finally, Loop Capital increased their price target on Best Buy from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, November 25th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $76.20.

Best Buy Stock Performance

Shares of BBY opened at $66.48 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.26 and a debt-to-equity ratio of 0.39. The firm's fifty day simple moving average is $66.63 and its two-hundred day simple moving average is $72.76. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $84.99. The stock has a market capitalization of $13.90 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 1.65 and a beta of 1.46.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.13. The firm had revenue of $13.81 billion during the quarter, compared to analyst estimates of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The business's quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company posted $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Tuesday, March 24th. This is a positive change from Best Buy's previous quarterly dividend of $0.95. Best Buy's dividend payout ratio (DPR) is currently 75.40%.

Best Buy Company 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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