Best Buy Co., Inc. $BBY Shares Acquired by Amundi

Amundi increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,813,882 shares of the technology retailer’s stock after buying an additional 35,568 shares during the quarter. Amundi’s holdings in Best Buy were worth $203,440,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BBY. Norges Bank acquired a new stake in Best Buy during the 2nd quarter worth approximately $171,851,000. AQR Capital Management LLC increased its holdings in shares of Best Buy by 36.5% in the first quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock valued at $181,357,000 after purchasing an additional 671,408 shares during the period. Invesco Ltd. raised its stake in shares of Best Buy by 15.8% during the second quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock worth $305,351,000 after purchasing an additional 621,863 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Best Buy during the first quarter worth approximately $39,579,000. Finally, Schroder Investment Management Group lifted its holdings in shares of Best Buy by 390.8% during the second quarter. Schroder Investment Management Group now owns 605,443 shares of the technology retailer’s stock worth $40,643,000 after purchasing an additional 482,080 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 74,553 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the completion of the transaction, the chairman directly owned 11,451,911 shares in the company, valued at approximately $965,510,616.41. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 1,534,993 shares of company stock valued at $126,626,855. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BBY. Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research note on Wednesday, November 26th. The Goldman Sachs Group reduced their target price on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Truist Financial increased their price target on shares of Best Buy from $79.00 to $84.00 and gave the stock a “hold” rating in a report on Wednesday, November 26th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Best Buy in a report on Thursday, November 20th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $84.74.

Best Buy Stock Performance

BBY opened at $74.18 on Friday. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $91.68. The stock has a market cap of $15.59 billion, a P/E ratio of 24.56, a P/E/G ratio of 1.88 and a beta of 1.37. The stock’s 50 day simple moving average is $78.07 and its 200 day simple moving average is $73.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. The firm had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.Best Buy’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be given a $0.95 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $3.80 annualized dividend and a dividend yield of 5.1%. Best Buy’s payout ratio is currently 125.83%.

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.