Universal Beteiligungs und Servicegesellschaft mbH Increases Stock Position in Best Buy Co., Inc. $BBY

Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 9.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 322,226 shares of the technology retailer’s stock after acquiring an additional 26,777 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Best Buy were worth $21,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BBY. Harbor Capital Advisors Inc. lifted its stake in shares of Best Buy by 69.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after buying an additional 138 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Best Buy during the 3rd quarter valued at approximately $25,000. Root Financial Partners LLC purchased a new stake in shares of Best Buy during the 3rd quarter valued at approximately $32,000. Wolff Wiese Magana LLC purchased a new stake in shares of Best Buy during the 4th quarter valued at approximately $32,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Best Buy during the 2nd quarter valued at approximately $33,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Performance

NYSE BBY opened at $60.45 on Friday. Best Buy Co., Inc. has a 1 year low of $59.77 and a 1 year high of $84.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43. The stock has a market capitalization of $12.64 billion, a PE ratio of 11.99, a P/E/G ratio of 1.52 and a beta of 1.35. The company’s 50 day simple moving average is $63.87 and its two-hundred day simple moving average is $70.00.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.13. The business had revenue of $13.81 billion for the quarter, compared to analysts’ expectations of $13.96 billion. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts predict that Best Buy Co., Inc. will post 6.5 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th were given a dividend of $0.96 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.95. The ex-dividend date was Tuesday, March 24th. This represents a $3.84 annualized dividend and a dividend yield of 6.4%. Best Buy’s dividend payout ratio is 76.19%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BBY shares. DA Davidson set a $78.00 target price on shares of Best Buy in a research note on Thursday, March 5th. Wells Fargo & Company lowered their target price on shares of Best Buy from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. Wedbush lowered their target price on shares of Best Buy from $80.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. BNP Paribas Exane increased their target price on shares of Best Buy from $68.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Finally, Jefferies Financial Group lowered their target price on shares of Best Buy from $94.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Best Buy presently has a consensus rating of “Hold” and an average price target of $74.85.

Insider Activity

In other news, CAO Mathew Watson sold 3,298 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $211,137.96. Following the sale, the chief accounting officer owned 23,192 shares in the company, valued at approximately $1,484,751.84. This trade represents a 12.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kathleen Scarlett sold 8,049 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction 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 trade represents a 7.27% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 77,247 shares of company stock worth $4,945,353. Corporate insiders own 0.47% of the company’s stock.

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.