Vanguard Group Inc. Has $1.62 Billion Stock Position in Best Buy Co., Inc. $BBY

Vanguard Group Inc. boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,255,320 shares of the technology retailer’s stock after buying an additional 307,905 shares during the period. Vanguard Group Inc. owned approximately 0.12% of Best Buy worth $1,623,409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Munich Reinsurance Co Stock Corp in Munich raised its position in Best Buy by 422.9% during the fourth quarter. Munich Reinsurance Co Stock Corp in Munich now owns 92,428 shares of the technology retailer’s stock valued at $6,269,000 after buying an additional 74,751 shares during the period. Concurrent Investment Advisors LLC grew its stake in Best Buy by 100.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 70,280 shares of the technology retailer’s stock valued at $4,704,000 after purchasing an additional 35,239 shares in the last quarter. Lebenthal Global Advisors LLC grew its stake in Best Buy by 17.2% in the fourth quarter. Lebenthal Global Advisors LLC now owns 12,586 shares of the technology retailer’s stock valued at $842,000 after purchasing an additional 1,847 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in Best Buy by 7.5% in the 4th quarter. Chicago Partners Investment Group LLC now owns 12,437 shares of the technology retailer’s stock worth $834,000 after purchasing an additional 872 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Best Buy by 63.3% during the 4th quarter. Teacher Retirement System of Texas now owns 206,177 shares of the technology retailer’s stock worth $13,799,000 after purchasing an additional 79,944 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Best Buy

In other news, EVP Kathleen Scarlett sold 8,049 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $515,296.98. Following the completion of the sale, the executive vice president owned 102,669 shares in the company, valued at approximately $6,572,869.38. This represents a 7.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jason J. Bonfig sold 6,336 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $405,630.72. Following the sale, the executive vice president owned 79,137 shares of the company’s stock, valued at approximately $5,066,350.74. The trade was a 7.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 77,247 shares of company stock worth $4,945,353 in the last 90 days. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BBY shares. BNP Paribas Exane raised their price target on Best Buy from $68.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Wells Fargo & Company cut their price target on Best Buy from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Daiwa Securities Group cut their price target on Best Buy from $80.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. Jefferies Financial Group cut their price target on Best Buy from $94.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. downgraded Best Buy from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $99.00 to $76.00 in a research note on Monday, February 2nd. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.75.

Best Buy Stock Performance

BBY opened at $60.53 on Friday. The company has a market cap of $12.66 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.45 and a beta of 1.35. The stock has a 50-day moving average of $63.32 and a 200-day moving average of $69.58. Best Buy Co., Inc. has a 52-week low of $58.17 and a 52-week high of $84.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11.

Best Buy (NYSE:BBY) last released 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. The company had revenue of $13.81 billion during the quarter, compared to the consensus estimate of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.5 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th were paid a dividend of $0.96 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.95. The ex-dividend date was Tuesday, March 24th. This represents a $3.84 annualized dividend and a dividend yield of 6.3%. Best Buy’s dividend payout ratio is currently 76.19%.

About Best Buy

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.