Mitsubishi UFJ Asset Management Co. Ltd. Has $29 Million Stake in Best Buy Co., Inc. $BBY

Mitsubishi UFJ Asset Management Co. Ltd. lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 17.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 429,645 shares of the technology retailer’s stock after selling 92,456 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Best Buy worth $28,999,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. increased its stake in Best Buy by 3,890.0% in the first quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock valued at $75,353,000 after purchasing an additional 998,021 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Best Buy by 36.5% during the 1st quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock worth $181,357,000 after purchasing an additional 671,408 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Best Buy in the 1st quarter valued at about $39,579,000. Charles Schwab Investment Management Inc. increased its position in Best Buy by 6.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock valued at $512,986,000 after buying an additional 408,605 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Best Buy by 27.7% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,550,145 shares of the technology retailer’s stock worth $104,061,000 after buying an additional 335,793 shares during the period. 80.96% of the stock is owned by institutional investors.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 500,000 shares of the company’s stock in a transaction that occurred on 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 approximately $1,009,316,450.32. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mathew Watson sold 3,715 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the transaction, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at approximately $1,640,650.50. This trade represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,736,826 shares of company stock worth $141,568,327. Corporate insiders own 0.47% of the company’s stock.

Best Buy Price Performance

Best Buy stock opened at $77.64 on Wednesday. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $95.49. The company’s 50 day moving average price is $77.63 and its two-hundred day moving average price is $72.69. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. The stock has a market cap of $16.31 billion, a P/E ratio of 21.45, a P/E/G ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were given a $0.95 dividend. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 4.9%. Best Buy’s payout ratio is currently 104.97%.

Wall Street Analyst Weigh In

BBY has been the subject of several recent research reports. Telsey Advisory Group restated an “outperform” rating and set a $90.00 price objective on shares of Best Buy in a report on Friday, August 29th. Evercore ISI boosted their price target on shares of Best Buy from $80.00 to $85.00 in a research note on Tuesday, November 4th. Jefferies Financial Group raised their price objective on shares of Best Buy from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on shares of Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a report on Friday, August 29th. Finally, Wedbush upped their target price on shares of Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $83.38.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.