Strs Ohio Purchases Shares of 186,975 Best Buy Co., Inc. $BBY

Key Points

• Strs Ohio acquired 186,975 shares of Best Buy Co., Inc. valued at approximately $13.76 million, representing about 0.09% of the company's total shares.
• Insider trading activity included Chairman Richard M. Schulze selling 196,100 shares for approximately $14.51 million, while other executives also sold shares, decreasing their ownership positions.
• Best Buy reported earnings of $1.28 per share, surpassing estimates, and declared a quarterly dividend of $0.95, resulting in a yield of 5.0%.

Strs Ohio bought a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 186,975 shares of the technology retailer's stock, valued at approximately $13,763,000. Strs Ohio owned 0.09% of Best Buy as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BBY. Intech Investment Management LLC increased its stake in Best Buy by 53.6% in the first quarter. Intech Investment Management LLC now owns 26,462 shares of the technology retailer's stock valued at $1,948,000 after acquiring an additional 9,231 shares during the last quarter. Bayforest Capital Ltd bought a new position in shares of Best Buy in the 1st quarter valued at $990,000. Woodline Partners LP raised its holdings in shares of Best Buy by 40.1% during the 1st quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer's stock worth $1,210,000 after buying an additional 4,701 shares in the last quarter. MBB Public Markets I LLC acquired a new position in shares of Best Buy during the 1st quarter worth $313,000. Finally, Caxton Associates LLP bought a new stake in shares of Best Buy during the 1st quarter worth $1,029,000. Institutional investors own 80.96% of the company's stock.

Analyst Ratings Changes

BBY has been the subject of several research analyst reports. Wall Street Zen raised Best Buy from a "hold" rating to a "buy" rating in a research note on Saturday. BNP Paribas upgraded shares of Best Buy to a "hold" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of Best Buy from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. UBS Group dropped their price target 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. Finally, Bank of America reduced their price objective on Best Buy from $63.00 to $60.00 and set an "underperform" rating on the stock in a research report on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $82.59.

Best Buy Trading Down 1.7%

Shares of BBY stock traded down $1.29 on Monday, hitting $74.58. The company had a trading volume of 2,713,234 shares, compared to its average volume of 3,742,512. The stock's 50-day moving average is $71.27 and its two-hundred day moving average is $70.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The firm has a market cap of $15.67 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.00 and a beta of 1.19. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $103.48.

Best Buy (NYSE:BBY - Get Free Report) last announced its earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. The business had revenue of $9.44 billion for the quarter, compared to analysts' expectations of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm's revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be given a dividend of $0.95 per share. The ex-dividend date is Thursday, September 18th. This represents a $3.80 annualized dividend and a dividend yield of 5.1%. Best Buy's dividend payout ratio is presently 104.97%.

Insider Activity at Best Buy

In related news, CAO Mathew Watson sold 2,018 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the sale, the chief accounting officer owned 20,132 shares of the company's stock, valued at $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 196,100 shares of the firm's stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 201,833 shares of company stock valued at $14,941,472 in the last ninety days. 0.59% of the stock is currently owned by insiders.

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.