Groupama Asset Managment Purchases 1,372 Shares of Best Buy Co., Inc. $BBY

Groupama Asset Managment boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 7.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,300 shares of the technology retailer’s stock after purchasing an additional 1,372 shares during the period. Groupama Asset Managment’s holdings in Best Buy were worth $1,471,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in Best Buy by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock valued at $512,986,000 after purchasing an additional 408,605 shares during the period. Invesco Ltd. increased its holdings in Best Buy by 6.4% in the first quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer’s stock valued at $289,051,000 after purchasing an additional 234,669 shares during the period. Dimensional Fund Advisors LP increased its holdings in Best Buy by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer’s stock valued at $240,173,000 after purchasing an additional 105,710 shares during the period. Northern Trust Corp increased its holdings in Best Buy by 31.3% in the fourth quarter. Northern Trust Corp now owns 2,942,832 shares of the technology retailer’s stock valued at $252,495,000 after purchasing an additional 701,287 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Best Buy by 9.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,605,902 shares of the technology retailer’s stock valued at $223,586,000 after purchasing an additional 215,265 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Performance

Shares of BBY opened at $72.3470 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.32. The stock has a 50-day moving average of $69.19 and a 200-day moving average of $72.04. The company has a market cap of $15.29 billion, a PE ratio of 17.69, a P/E/G ratio of 1.96 and a beta of 1.21. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $103.71.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, beating the consensus estimate of $1.09 by $0.06. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.77 billion. Best Buy had a return on equity of 46.40% and a net margin of 2.13%.The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the business posted $1.20 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, equities research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th were paid a $0.95 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $3.80 annualized dividend and a dividend yield of 5.3%. Best Buy’s dividend payout ratio (DPR) is currently 92.91%.

Wall Street Analyst Weigh In

BBY has been the subject of a number of recent research reports. Barclays decreased their price objective on Best Buy from $89.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, May 30th. Loop Capital decreased their price target on Best Buy from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, May 30th. Wedbush decreased their price target on Best Buy from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, May 30th. BNP Paribas upgraded Best Buy to a “hold” rating in a report on Friday, May 30th. Finally, Wells Fargo & Company decreased their price target on Best Buy from $75.00 to $67.00 and set an “equal weight” rating for the company in a report on Friday, May 30th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Best Buy currently has an average rating of “Hold” and a consensus target price of $85.72.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 729,201 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $72.95, for a total value of $53,195,212.95. Following the completion of the sale, the chairman directly owned 196,100 shares in the company, valued at $14,305,495. This trade represents a 78.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

Best Buy Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.