Mirae Asset Global Investments Co. Ltd. Buys 11,018 Shares of Best Buy Co., Inc. $BBY

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.0% during the third quarter, HoldingsChannel reports. The firm owned 231,927 shares of the technology retailer’s stock after purchasing an additional 11,018 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Best Buy were worth $17,538,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in Best Buy during the 2nd quarter valued at approximately $171,851,000. AQR Capital Management LLC boosted its position in shares of Best Buy by 39.5% during the second quarter. AQR Capital Management LLC now owns 3,501,617 shares of the technology retailer’s stock valued at $235,064,000 after purchasing an additional 991,141 shares in the last quarter. Pacer Advisors Inc. grew its stake in Best Buy by 61.9% in the third quarter. Pacer Advisors Inc. now owns 1,998,886 shares of the technology retailer’s stock worth $151,156,000 after purchasing an additional 764,064 shares during the period. Invesco Ltd. raised its holdings in Best Buy by 15.8% in 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 in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its position in Best Buy by 855.5% during the second quarter. Worldquant Millennium Advisors LLC now owns 686,644 shares of the technology retailer’s stock valued at $46,094,000 after buying an additional 614,779 shares during the period. 80.96% of the stock is owned by institutional investors.

Best Buy Stock Down 0.1%

Best Buy stock opened at $65.06 on Friday. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $91.68. The stock has a fifty day moving average of $70.83 and a 200 day moving average of $73.20. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. The stock has a market cap of $13.63 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41.

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

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.8%. The ex-dividend date was Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) is presently 125.83%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BBY. Barclays dropped their price objective on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 8th. Wedbush reiterated a “neutral” rating and set a $75.00 target price on shares of Best Buy in a report on Thursday, November 20th. UBS Group upped their price target on Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Evercore ISI lowered their price objective on Best Buy from $85.00 to $80.00 and set an “in-line” rating for the company in a research note on Tuesday, December 9th. Finally, Loop Capital increased their target price on Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Best Buy has an average rating of “Hold” and a consensus price target of $83.37.

Best Buy Company Profile

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.