257,547 Shares in Best Buy Co., Inc. $BBY Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 257,547 shares of the technology retailer’s stock, valued at approximately $22,726,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Best Buy in the second quarter worth approximately $1,932,812,000. Bank of New York Mellon Corp purchased a new stake in Best Buy during the second quarter worth $174,893,000. Deutsche Bank AG purchased a new stake in Best Buy during the second quarter worth $116,003,000. KBC Group NV boosted its position in Best Buy by 50.5% during the 1st quarter. KBC Group NV now owns 1,584,803 shares of the technology retailer’s stock valued at $101,745,000 after acquiring an additional 531,998 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Best Buy by 113.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,449,439 shares of the technology retailer’s stock valued at $93,054,000 after acquiring an additional 770,339 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Trading Up 0.4%

NYSE BBY opened at $96.01 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The firm has a market cap of $20.14 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.42 and a beta of 1.26. The company has a 50 day moving average price of $90.57 and a 200 day moving average price of $75.47. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $100.58.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. The company had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $9.59 billion. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. Best Buy’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, sell-side analysts forecast that Best Buy Co., Inc. will post 6.81 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Thursday, September 17th. Best Buy’s dividend payout ratio is currently 63.89%.

Analyst Ratings Changes

BBY has been the topic of a number of analyst reports. Citigroup lifted their price target on Best Buy from $79.00 to $88.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Weiss Ratings cut Best Buy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, October 27th. DA Davidson upgraded Best Buy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 24th. Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Finally, Wedbush reiterated a “buy” rating on shares of Best Buy in a research note on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Best Buy presently has an average rating of “Hold” and a consensus target price of $86.15.

Insider Buying and Selling at Best Buy

In other news, EVP Kathleen Scarlett sold 116,062 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $92.15, for a total transaction of $10,695,113.30. Following the completion of the sale, the executive vice president owned 116,173 shares in the company, valued at approximately $10,705,341.95. This represents a 49.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard Schulze sold 300,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total value of $27,753,000.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.50% of the company’s stock.

Best Buy Company Profile

Best Buy Co, Inc is a specialty retailer of technology products and services headquartered in Richfield, Minnesota. The company sells consumer electronics, computing and mobile products, entertainment products, appliances, furniture, and related accessories through its retail stores, websites, and other sales channels.

Best Buy also provides technology-related services, including product installation, repair, technical support, delivery, and in-home consultation. Its services are offered through brands and operations such as Geek Squad, while the company also provides membership and protection programs designed to support customers after purchase.

The company serves customers primarily in the United States and Canada.