Mitsubishi UFJ Trust & Banking Corp Has $20.46 Million Stock Position in Best Buy Co., Inc. $BBY

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 18.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 305,656 shares of the technology retailer’s stock after selling 68,479 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Best Buy were worth $20,458,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BBY. Palisade Asset Management LLC acquired a new stake in shares of Best Buy during the third quarter worth $25,000. Quest 10 Wealth Builders Inc. lifted its holdings in Best Buy by 239.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock valued at $30,000 after buying an additional 311 shares during the period. Root Financial Partners LLC bought a new stake in Best Buy during the third quarter valued at $32,000. Wolff Wiese Magana LLC acquired a new stake in Best Buy during the 4th quarter worth about $32,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in Best Buy during the 2nd quarter worth about $33,000. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BBY shares. The Goldman Sachs Group downgraded Best Buy from a “buy” rating to a “sell” rating and set a $59.00 price objective on the stock. in a research note on Monday, April 13th. JPMorgan Chase & Co. lowered Best Buy from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $99.00 to $76.00 in a research note on Monday, February 2nd. DA Davidson set a $78.00 price target on Best Buy in a report on Thursday, March 5th. Wells Fargo & Company reduced their price objective on shares of Best Buy from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Finally, Wall Street Zen lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.75.

Best Buy Stock Up 3.1%

Shares of NYSE:BBY opened at $60.53 on Friday. The business’s 50 day simple moving average is $63.32 and its two-hundred day simple moving average is $69.58. The firm has a market cap of $12.66 billion, a P/E ratio of 12.01, a PEG ratio of 1.45 and a beta of 1.35. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. Best Buy Co., Inc. has a 52-week low of $58.17 and a 52-week high of $84.99.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, beating the consensus estimate of $2.48 by $0.13. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm had revenue of $13.81 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same quarter in the previous year, the company posted $2.58 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.5 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th were issued a dividend of $0.96 per share. The ex-dividend date was Tuesday, March 24th. This is a positive change from Best Buy’s previous quarterly dividend of $0.95. This represents a $3.84 annualized dividend and a yield of 6.3%. Best Buy’s dividend payout ratio is currently 76.19%.

Insider Transactions at Best Buy

In other news, CEO Corie S. Barry sold 42,869 shares of Best Buy stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $2,744,473.38. Following the completion of the transaction, the chief executive officer directly owned 523,138 shares in the company, valued at $33,491,294.76. This trade represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd G. Hartman sold 5,339 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $341,802.78. Following the sale, the insider directly owned 44,098 shares of the company’s stock, valued at approximately $2,823,153.96. The trade was a 10.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 77,247 shares of company stock valued at $4,945,353. Corporate insiders own 0.47% of the company’s stock.

Best Buy Company 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.