Robeco Institutional Asset Management B.V. Acquires 203,594 Shares of Best Buy Co., Inc. $BBY

Robeco Institutional Asset Management B.V. lifted its position in Best Buy Co., Inc. (NYSE:BBY) by 37.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 751,252 shares of the technology retailer’s stock after buying an additional 203,594 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Best Buy were worth $56,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Best Buy by 1.8% in the second quarter. Vanguard Group Inc. now owns 23,395,055 shares of the technology retailer’s stock valued at $1,570,510,000 after purchasing an additional 419,312 shares during the last quarter. State Street Corp lifted its holdings in Best Buy by 3.8% in the 2nd quarter. State Street Corp now owns 13,631,429 shares of the technology retailer’s stock valued at $927,753,000 after purchasing an additional 496,215 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Best Buy by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,038,506 shares of the technology retailer’s stock valued at $472,495,000 after acquiring an additional 69,533 shares during the last quarter. Invesco Ltd. lifted its position in Best Buy by 15.8% during the second quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock worth $305,351,000 after buying an additional 621,863 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Best Buy by 39.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,501,617 shares of the technology retailer’s stock worth $235,064,000 after acquiring an additional 991,141 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 500,000 shares of Best Buy stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $80.83, for a total value of $40,415,000.00. Following the transaction, the chairman owned 12,486,904 shares in the company, valued at $1,009,316,450.32. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 1,534,993 shares of company stock valued at $126,626,855 in the last quarter. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BBY has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. Jefferies Financial Group decreased their target price on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Telsey Advisory Group lifted their price objective on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 26th. Guggenheim reissued a “buy” rating and set a $90.00 price target on shares of Best Buy in a research report on Wednesday, November 26th. Finally, BNP Paribas Exane decreased their price target on shares of Best Buy from $69.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, November 26th. Nine investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $84.11.

Best Buy Stock Down 4.5%

NYSE:BBY opened at $68.90 on Thursday. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $91.68. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $14.44 billion, a P/E ratio of 22.81, a P/E/G ratio of 1.83 and a beta of 1.41. The stock’s fifty day simple moving average is $74.48 and its 200-day simple moving average is $73.60.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The firm had revenue of $9.67 billion during the quarter, compared to analyst estimates of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Equities research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Tuesday, December 16th. Best Buy’s dividend payout ratio is presently 125.83%.

About Best Buy

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.