Mirae Asset Global Investments Co. Ltd. Has $14.83 Million Position in Best Buy Co., Inc. $BBY

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 9.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 220,909 shares of the technology retailer’s stock after purchasing an additional 19,949 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Best Buy were worth $14,830,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. boosted its position in Best Buy by 108.5% during the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 178 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new stake in Best Buy during the second quarter worth approximately $26,000. Grove Bank & Trust boosted its position in Best Buy by 67.1% during the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 173 shares during the period. Maseco LLP bought a new stake in Best Buy during the second quarter worth approximately $39,000. Finally, Wealth Preservation Advisors LLC bought a new stake in Best Buy during the first quarter worth approximately $53,000. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 0.4%

Shares of BBY stock opened at $76.91 on Friday. The stock has a market cap of $16.16 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $101.04. The stock has a fifty day moving average price of $72.81 and a 200 day moving average price of $70.08. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.Best Buy’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 4.9%. The ex-dividend date is Thursday, September 18th. Best Buy’s dividend payout ratio is currently 104.97%.

Insider Buying and Selling at Best Buy

In other Best Buy news, CAO Mathew Watson sold 3,715 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the transaction, the chief accounting officer directly owned 22,150 shares in the company, valued at $1,640,650.50. This represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. Insiders have sold 201,833 shares of company stock valued at $14,941,472 over the last quarter. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wedbush upped their target price on Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. JPMorgan Chase & Co. increased their price objective on Best Buy from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, August 29th. Argus reissued a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, Citigroup reissued a “buy” rating on shares of Best Buy in a research report on Thursday, August 28th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $81.50.

About Best Buy

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.