Best Buy Co., Inc. $BBY Stock Holdings Lifted by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd grew its position in Best Buy Co., Inc. (NYSE:BBY) by 178.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 59,162 shares of the technology retailer’s stock after acquiring an additional 37,901 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Best Buy were worth $3,781,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BBY. AQR Capital Management LLC increased its holdings in Best Buy by 99.8% in the third 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 during the last quarter. Norges Bank acquired a new stake in Best Buy in the fourth quarter valued at approximately $174,685,000. Schroder Investment Management Group lifted its stake in Best Buy by 378.8% in the fourth quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer’s stock valued at $207,216,000 after acquiring an additional 2,449,342 shares during the last quarter. Hsbc Holdings PLC grew its position in Best Buy by 104.1% in the fourth quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer’s stock worth $135,685,000 after acquiring an additional 1,030,544 shares in the last quarter. Finally, KBC Group NV grew its position in Best Buy by 293.6% in the fourth quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer’s stock worth $70,464,000 after acquiring an additional 785,294 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Stock Performance

Shares of BBY opened at $85.11 on Tuesday. The company has a market capitalization of $17.94 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 2.27 and a beta of 1.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $87.35. The company’s fifty day moving average price is $73.26 and its 200 day moving average price is $67.70.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.05. The company had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, analysts expect that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were issued a $0.96 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a yield of 4.5%. Best Buy’s dividend payout ratio (DPR) is 71.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Piper Sandler restated a “neutral” rating and set a $77.00 price target on shares of Best Buy in a report on Thursday, May 28th. Wells Fargo & Company upped their price objective on shares of Best Buy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Weiss Ratings raised shares of Best Buy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Evercore raised their target price on Best Buy from $65.00 to $85.00 in a report on Friday, May 29th. Finally, Truist Financial boosted their price target on Best Buy from $66.00 to $81.00 and gave the stock a “hold” rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Best Buy presently has a consensus rating of “Hold” and a consensus target price of $79.50.

Insider Buying and Selling

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the transaction, the chief accounting officer directly owned 21,630 shares of the company’s stock, valued at $1,596,294. The trade was a 7.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 224,705 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $78.10, for a total value of $17,549,460.50. Following the transaction, the chairman owned 10,430,936 shares of the company’s stock, valued at approximately $814,656,101.60. This trade represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,002,134 shares of company stock worth $77,283,527 in the last ninety days. Insiders own 0.50% 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.