UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $174.64 Million Stake in Best Buy Co., Inc. $BBY

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Best Buy Co., Inc. (NYSE:BBY) by 11.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,301,505 shares of the technology retailer’s stock after selling 304,370 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Best Buy were worth $174,638,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MV Capital Management Inc. acquired a new position in Best Buy during the fourth quarter worth $25,000. Palisade Asset Management LLC acquired a new position in shares of Best Buy during the third quarter valued at about $25,000. Hillsdale Investment Management Inc. bought a new stake in shares of Best Buy during the fourth quarter worth about $29,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Best Buy in the 4th quarter worth about $32,000. Finally, Bayban acquired a new stake in shares of Best Buy in the 4th quarter worth about $33,000. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard M. Schulze sold 224,705 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the completion of the sale, the chairman owned 10,430,936 shares in the company, valued at $814,656,101.60. This trade represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 500,000 shares of company stock worth $39,065,226. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on BBY shares. DA Davidson lifted their price target on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Evercore increased their price objective on Best Buy from $65.00 to $85.00 in a research note on Friday, May 29th. Bank of America started coverage on Best Buy in a report on Monday, August 3rd. They issued an “underperform” rating and a $80.00 target price on the stock. Telsey Advisory Group increased their price objective on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Finally, KeyCorp reissued a “sector weight” rating on shares of Best Buy in a research report on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $85.40.

Best Buy Trading Up 3.0%

NYSE BBY opened at $82.55 on Wednesday. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 2.01 and a beta of 1.28. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $91.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.41. The business’s fifty day moving average is $83.39 and its 200-day moving average is $71.56.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.08. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The company had revenue of $9.78 billion during the quarter, compared to analyst estimates of $9.59 billion. During the same quarter in the prior year, the business earned $1.28 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Equities research analysts predict that Best Buy Co., Inc. will post 6.79 EPS for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, September 17th. Best Buy’s dividend payout ratio is currently 63.89%.

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.