537,685 Shares in Best Buy Co., Inc. $BBY Acquired by Nuveen LLC

Key Points

• Nuveen LLC has made a significant investment of approximately $39.58 million in Best Buy, acquiring 537,685 shares during the first quarter, representing about 0.25% of the company's stock.
• A number of institutional investors have increased their stakes in Best Buy, with Pacer Advisors raising their position by a staggering 3,890% over the same period.
• In recent analyst reports, Best Buy has received a mix of ratings, with Telsey Advisory Group maintaining an "outperform" rating and setting a price target of $90.00, while others have revised down their targets significantly.

Nuveen LLC acquired a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 537,685 shares of the technology retailer's stock, valued at approximately $39,579,000. Nuveen LLC owned approximately 0.25% of Best Buy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in the stock. Aigen Investment Management LP acquired a new position in shares of Best Buy during the 1st quarter worth $1,716,000. Virtu Financial LLC grew its position in Best Buy by 455.3% during the first quarter. Virtu Financial LLC now owns 29,565 shares of the technology retailer's stock worth $2,176,000 after buying an additional 24,241 shares during the period. Invesco Ltd. increased its holdings in Best Buy by 6.4% in the first quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer's stock valued at $289,051,000 after buying an additional 234,669 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in Best Buy by 5.8% in the first quarter. Benjamin Edwards Inc. now owns 88,300 shares of the technology retailer's stock valued at $6,500,000 after buying an additional 4,859 shares in the last quarter. Finally, Townsquare Capital LLC lifted its position in shares of Best Buy by 2.5% during the 1st quarter. Townsquare Capital LLC now owns 6,162 shares of the technology retailer's stock valued at $454,000 after acquiring an additional 153 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Down 2.6%

Shares of Best Buy stock traded down $1.89 during trading on Wednesday, reaching $72.21. The company had a trading volume of 1,285,540 shares, compared to its average volume of 3,613,050. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 1.02. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.71. The firm's fifty day moving average is $69.19 and its 200-day moving average is $72.04. The company has a market cap of $15.26 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.06. Best Buy had a return on equity of 46.40% and a net margin of 2.13%.The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.77 billion. During the same period in the previous year, the company earned $1.20 earnings per share. Best Buy's quarterly revenue was down .9% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Wednesday, June 18th. Best Buy's payout ratio is currently 92.91%.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the 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 sale, the chairman directly owned 196,100 shares of the company's stock, valued at approximately $14,305,495. This represents a 78.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.59% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BBY. Loop Capital cut 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. Wells Fargo & Company reduced their price target on Best Buy from $75.00 to $67.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. UBS Group lowered their price objective on Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Guggenheim reiterated a "buy" rating and issued a $90.00 target price on shares of Best Buy in a research note on Tuesday, June 10th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $90.00 price target on shares of Best Buy in a research note on Friday, May 30th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Best Buy has a consensus rating of "Hold" and a consensus price target of $85.72.

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.