VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in Best Buy Co., Inc. (NYSE:BBY – Free Report) by 42.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 225,000 shares of the technology retailer’s stock after acquiring an additional 67,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Best Buy were worth $15,059,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Best Buy by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer’s stock worth $1,623,409,000 after buying an additional 307,905 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Best Buy by 99.8% in the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock worth $525,120,000 after buying an additional 3,496,254 shares in the last quarter. Northern Trust Corp lifted its holdings in Best Buy by 5.5% in the 3rd quarter. Northern Trust Corp now owns 2,888,664 shares of the technology retailer’s stock worth $218,441,000 after buying an additional 150,871 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Best Buy by 2.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,754,844 shares of the technology retailer’s stock worth $132,701,000 after buying an additional 39,026 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Best Buy by 0.3% in the 3rd quarter. Legal & General Group Plc now owns 1,661,024 shares of the technology retailer’s stock valued at $125,607,000 after purchasing an additional 5,130 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.
Insider Activity
In related news, CAO Mathew Watson sold 3,298 shares of the stock in a transaction dated 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 $1,484,751.84. This represents a 12.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Corie S. Barry sold 42,869 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $2,744,473.38. Following the sale, the chief executive officer owned 523,138 shares in the company, valued at approximately $33,491,294.76. This trade represents a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 77,247 shares of company stock valued at $4,945,353 over the last quarter. Corporate insiders own 0.47% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Report on Best Buy
Best Buy Price Performance
BBY opened at $55.49 on Thursday. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $84.99. The company’s 50-day moving average price is $62.63 and its 200 day moving average price is $68.35. The company has a quick ratio of 0.43, a current ratio of 1.11 and a debt-to-equity ratio of 0.39.
Best Buy (NYSE:BBY – Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.13. The firm had revenue of $13.81 billion for the quarter, compared to analyst estimates of $13.96 billion. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. Best Buy’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.58 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.5 earnings per share for the current year.
Best Buy Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 24th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 6.9%. This is a positive change from Best Buy’s previous quarterly dividend of $0.95. The ex-dividend date was Tuesday, March 24th. Best Buy’s dividend payout ratio (DPR) is currently 76.19%.
Best Buy 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.
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