Epoch Investment Partners Inc. Has $40.49 Million Position in Best Buy Co., Inc. $BBY

Epoch Investment Partners Inc. reduced its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 604,936 shares of the technology retailer’s stock after selling 33,819 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Best Buy were worth $40,488,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BBY. Vanguard Group Inc. grew its position in shares of Best Buy by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 23,947,415 shares of the technology retailer’s stock valued at $1,810,904,000 after purchasing an additional 552,360 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of Best Buy by 100.6% in the 4th 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 during the period. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Best Buy in the 4th quarter valued at approximately $1,741,000. Waratah Capital Advisors Ltd. acquired a new position in shares of Best Buy in the 3rd quarter valued at approximately $3,032,000. Finally, Trust Investment Advisors bought a new stake in Best Buy in the 3rd quarter valued at approximately $1,939,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Best Buy

In other news, CFO Matthew M. Bilunas sold 11,356 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $727,011.12. Following the sale, the chief financial officer owned 76,884 shares in the company, valued at $4,922,113.68. This represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kathleen Scarlett sold 8,049 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $515,296.98. Following 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 579,381 shares of company stock worth $43,163,654. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BBY shares. Guggenheim restated a “buy” rating and issued a $90.00 target price on shares of Best Buy in a research note on Friday, May 29th. KeyCorp restated a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 4th. BNP Paribas Exane boosted their target price on Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Morgan Stanley boosted their target price on Best Buy from $72.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Finally, Daiwa Securities Group boosted their target price on Best Buy from $68.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, June 2nd. Six research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Best Buy presently has an average rating of “Hold” and a consensus price target of $79.05.

Best Buy Trading Up 0.2%

Shares of Best Buy stock opened at $78.70 on Monday. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $84.99. The stock has a market cap of $16.59 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.09 and a beta of 1.30. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $64.51 and its 200-day moving average is $66.70.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The company had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities research analysts predict that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be paid a dividend of $0.96 per share. The ex-dividend date is Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.9%. Best Buy’s dividend payout ratio is currently 71.11%.

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.