Quantitative Investment Management LLC Invests $602,000 in Best Buy Co., Inc. $BBY

Key Points

• Quantitative Investment Management LLC invested approximately $602,000 in Best Buy Co., acquiring 8,181 shares during the first quarter, according to their recent SEC filing.
• Best Buy reported earnings of $1.15 per share for the latest quarter, surpassing analyst expectations, with a revenue of $8.77 billion.
• The company announced a quarterly dividend of $0.95, reflecting a dividend yield of 5.1% and a payout ratio of 92.91%.

Quantitative Investment Management LLC bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,181 shares of the technology retailer's stock, valued at approximately $602,000.

Several other hedge funds have also recently made changes to their positions in BBY. Pacer Advisors Inc. increased its stake in shares of Best Buy by 3,890.0% during the first quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer's stock valued at $75,353,000 after buying an additional 998,021 shares during the period. Northern Trust Corp increased its stake in shares of Best Buy by 31.3% during the fourth quarter. Northern Trust Corp now owns 2,942,832 shares of the technology retailer's stock valued at $252,495,000 after buying an additional 701,287 shares during the period. Nuveen LLC purchased a new position in shares of Best Buy during the first quarter valued at approximately $39,579,000. Charles Schwab Investment Management Inc. boosted its position in shares of Best Buy by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer's stock valued at $512,986,000 after purchasing an additional 408,605 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Best Buy during the fourth quarter valued at approximately $29,090,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $72.95, for a total value 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. The trade was a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company's stock.

Best Buy Stock Up 1.3%

Best Buy stock traded up $0.93 during mid-day trading on Friday, hitting $73.59. The company had a trading volume of 4,436,142 shares, compared to its average volume of 3,543,829. The company has a current ratio of 1.04, a quick ratio of 0.32 and a debt-to-equity ratio of 0.43. The stock's 50 day moving average price is $69.82 and its two-hundred day moving average price is $71.35. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $103.71. The company has a market capitalization of $15.55 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.95 and a beta of 1.21.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping 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 business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same period in the previous year, the company posted $1.34 earnings per share. The company's revenue for the quarter 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. As a group, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy's payout ratio is 92.91%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BBY shares. Piper Sandler restated a "neutral" rating and set a $75.00 price target (down from $82.00) on shares of Best Buy in a research report on Monday, July 14th. Loop Capital dropped their price target on Best Buy from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. JPMorgan Chase & Co. lifted their price target on Best Buy from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Friday. Guggenheim restated a "buy" rating and set a $90.00 price target on shares of Best Buy in a research report on Friday. Finally, Bank of America dropped their price target on Best Buy from $63.00 to $60.00 and set an "underperform" rating on the stock in a research report on Friday. Ten research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Best Buy currently has an average rating of "Hold" and a consensus price target of $84.44.

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.