Best Buy Co., Inc. $BBY Shares Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH increased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 23.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 94,460 shares of the technology retailer’s stock after acquiring an additional 17,900 shares during the quarter. Erste Asset Management GmbH’s holdings in Best Buy were worth $6,414,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Torren Management LLC acquired a new position in Best Buy during the fourth quarter worth about $25,000. Palisade Asset Management LLC acquired a new position in Best Buy during the third quarter worth about $25,000. Hillsdale Investment Management Inc. acquired a new position in Best Buy during the fourth quarter worth about $29,000. Quest 10 Wealth Builders Inc. grew its holdings in Best Buy by 239.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock worth $30,000 after acquiring an additional 311 shares during the period. Finally, Activest Wealth Management grew its holdings in Best Buy by 1,247.1% during the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock worth $31,000 after acquiring an additional 424 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In other Best Buy news, EVP Jason J. Bonfig sold 6,336 shares of Best Buy stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $405,630.72. Following the transaction, the executive vice president owned 79,137 shares of the company’s stock, valued at $5,066,350.74. The trade was a 7.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Matthew M. Bilunas sold 11,356 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $727,011.12. Following the completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 579,381 shares of company stock worth $43,163,654 in the last three months. Insiders own 0.59% of the company’s stock.

Best Buy Trading Up 3.5%

Shares of BBY opened at $74.03 on Tuesday. The business’s 50-day moving average price is $63.49 and its 200 day moving average price is $66.66. The stock has a market capitalization of $15.60 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.90 and a beta of 1.30. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $84.99. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38.

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

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a yield of 5.2%. Best Buy’s dividend payout ratio (DPR) is currently 71.11%.

Wall Street Analysts Forecast Growth

BBY has been the subject of several research reports. Daiwa Securities Group raised their price objective on Best Buy from $68.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 2nd. Wedbush raised their price objective on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. DA Davidson reissued a “buy” rating and set a $78.00 price objective on shares of Best Buy in a research note on Friday, May 29th. KeyCorp reissued a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 4th. Finally, Guggenheim reissued a “buy” rating and issued a $90.00 price target on shares of Best Buy in a research note on Friday, May 29th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $79.05.

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.