Dimensional Fund Advisors LP Sells 160,127 Shares of Best Buy Co., Inc. $BBY

Dimensional Fund Advisors LP cut its position in Best Buy Co., Inc. (NYSE:BBY) by 4.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,104,464 shares of the technology retailer’s stock after selling 160,127 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Best Buy were worth $234,757,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Best Buy by 2.4% during the third quarter. Vanguard Group Inc. now owns 23,947,415 shares of the technology retailer’s stock valued at $1,810,904,000 after purchasing an additional 552,360 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Best Buy by 46.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 142,288 shares of the technology retailer’s stock worth $10,760,000 after buying an additional 44,989 shares during the last quarter. CWM LLC raised its position in shares of Best Buy by 272.6% during the 3rd quarter. CWM LLC now owns 183,842 shares of the technology retailer’s stock valued at $13,902,000 after buying an additional 134,508 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Best Buy by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,754,844 shares of the technology retailer’s stock valued at $132,701,000 after buying an additional 39,026 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Best Buy by 155.9% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 157,400 shares of the technology retailer’s stock worth $11,903,000 after acquiring an additional 95,900 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Price Performance

Shares of NYSE:BBY opened at $66.48 on Friday. The company has a quick ratio of 0.26, a current ratio of 1.11 and a debt-to-equity ratio of 0.39. The stock has a market cap of $13.90 billion, a PE ratio of 13.19, a PEG ratio of 1.65 and a beta of 1.46. The company’s fifty day moving average is $66.63 and its 200 day moving average is $72.76. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $84.99.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.13. The business had revenue of $13.81 billion during the quarter, compared to analyst estimates of $13.96 billion. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The company’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.58 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 24th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 5.8%. The ex-dividend date is Tuesday, March 24th. This is a positive change from Best Buy’s previous quarterly dividend of $0.95. Best Buy’s dividend payout ratio is 75.40%.

Analyst Ratings Changes

Several research analysts recently issued reports on BBY shares. UBS Group upped their target price on shares of Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Morgan Stanley dropped their price target on Best Buy from $76.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday. Wells Fargo & Company cut their price objective on Best Buy from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, February 18th. Daiwa Securities Group reduced their price objective on Best Buy from $80.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Piper Sandler reissued a “buy” rating on shares of Best Buy in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $76.20.

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.