Schroder Investment Management Group Grows Position in Best Buy Co., Inc. $BBY

Schroder Investment Management Group raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 646,673 shares of the technology retailer’s stock after acquiring an additional 41,230 shares during the period. Schroder Investment Management Group owned about 0.31% of Best Buy worth $48,901,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sage Private Wealth Group LLC raised its holdings in shares of Best Buy by 3.1% in the third quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock valued at $311,000 after purchasing an additional 123 shares during the last quarter. LVW Advisors LLC lifted its position in shares of Best Buy by 3.9% during the third quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock valued at $275,000 after purchasing an additional 137 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 138 shares during the last quarter. Huntington National Bank grew its position in Best Buy by 12.0% in the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock worth $98,000 after purchasing an additional 139 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Best Buy by 1.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after buying an additional 144 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Down 1.7%

Shares of Best Buy stock opened at $64.85 on Wednesday. The stock has a market capitalization of $13.56 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.63 and a beta of 1.46. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $84.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. The stock’s 50-day simple moving average is $66.54 and its 200 day simple moving average is $72.64.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.13. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The firm had revenue of $13.81 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same quarter last year, the company earned $2.58 earnings per share. The company’s 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 anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Tuesday, March 24th. This is a positive change from Best Buy’s previous quarterly dividend of $0.95. Best Buy’s payout ratio is presently 75.40%.

Analysts Set New Price Targets

BBY has been the topic of several recent analyst reports. BNP Paribas Exane lifted their target price on shares of Best Buy from $68.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. HSBC reduced their target price on Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. Guggenheim reiterated a “buy” rating and set a $90.00 price target on shares of Best Buy in a report on Wednesday, March 4th. Piper Sandler reissued a “buy” rating on shares of Best Buy in a research report on Wednesday, March 4th. Finally, Truist Financial decreased their target price on Best Buy from $73.00 to $66.00 and set a “hold” rating for the company in a research report on Tuesday, March 3rd. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $76.20.

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.