Best Buy Co., Inc. $BBY Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its stake in Best Buy Co., Inc. (NYSE:BBY) by 9.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 943,585 shares of the technology retailer’s stock after purchasing an additional 83,337 shares during the period. Robeco Institutional Asset Management B.V. owned 0.45% of Best Buy worth $82,355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of BBY. Clark Wealth Partners purchased a new position in shares of Best Buy in the third quarter worth $29,000. Ashurst Perkins Coie Trust Co lifted its stake in shares of Best Buy by 75.1% during the third quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock worth $35,000 after buying an additional 169 shares during the period. Aberdeen Wealth Management LLC acquired a new stake in shares of Best Buy during the second quarter worth $38,000. Maseco LLP purchased a new stake in shares of Best Buy during the first quarter valued at $37,000. Finally, Elevation Wealth Partners LLC grew its holdings in shares of Best Buy by 2,120.7% during the second quarter. Elevation Wealth Partners LLC now owns 644 shares of the technology retailer’s stock valued at $49,000 after buying an additional 615 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on BBY. Piper Sandler upped their target price on Best Buy from $77.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Truist Financial set a $100.00 price target on Best Buy in a research note on Thursday, August 27th. Guggenheim boosted their price target on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Telsey Advisory Group increased their price objective on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $85.90.

Insider Activity

In related news, EVP Kathleen Scarlett sold 116,062 shares of Best Buy stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $92.15, for a total transaction of $10,695,113.30. Following the completion of the transaction, the executive vice president directly owned 116,173 shares in the company, valued at approximately $10,705,341.95. This trade represents a 49.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard Schulze sold 300,000 shares of Best Buy stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total value of $27,753,000.00. The disclosure for this sale is available in the SEC filing. 0.50% of the stock is owned by company insiders.

Best Buy Price Performance

NYSE:BBY opened at $94.16 on Thursday. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $96.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.41 and a current ratio of 1.12. The firm has a market cap of $19.75 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 2.35 and a beta of 1.26. The firm’s fifty day moving average is $88.79 and its two-hundred day moving average is $78.19.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.08. The company had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Research analysts expect that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy’s dividend payout ratio (DPR) is 63.89%.

Best Buy Profile

Best Buy Co, Inc is a specialty retailer of technology products and services headquartered in Richfield, Minnesota. The company sells consumer electronics, computing and mobile products, entertainment products, appliances, furniture, and related accessories through its retail stores, websites, and other sales channels.

Best Buy also provides technology-related services, including product installation, repair, technical support, delivery, and in-home consultation. Its services are offered through brands and operations such as Geek Squad, while the company also provides membership and protection programs designed to support customers after purchase.

The company serves customers primarily in the United States and Canada.