Robeco Institutional Asset Management B.V. Purchases 83,337 Shares of Best Buy Co., Inc. $BBY

Robeco Institutional Asset Management B.V. lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 943,585 shares of the technology retailer’s stock after acquiring an additional 83,337 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Best Buy were worth $82,355,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Clark Wealth Partners purchased a new position in shares of Best Buy in the 3rd quarter valued at about $29,000. Ashurst Perkins Coie Trust Co raised its holdings in Best Buy by 75.1% in the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock worth $35,000 after purchasing an additional 169 shares during the period. Aberdeen Wealth Management LLC acquired a new position in Best Buy in the 2nd quarter worth about $38,000. Maseco LLP purchased a new position in Best Buy during the first quarter worth approximately $37,000. Finally, Elevation Wealth Partners LLC boosted its position in Best Buy by 2,120.7% during the second quarter. Elevation Wealth Partners LLC now owns 644 shares of the technology retailer’s stock worth $49,000 after purchasing an additional 615 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BBY. Telsey Advisory Group upped their target price on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. The Goldman Sachs Group lifted their price target on shares of Best Buy from $62.00 to $71.00 and gave the company a “sell” rating in a research note on Friday, August 28th. Evercore set a $95.00 price target on shares of Best Buy in a report on Tuesday. Citigroup boosted their price target on shares of Best Buy from $79.00 to $88.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and a consensus target price of $85.90.

Insider Buying and Selling at Best Buy

In other Best Buy news, Chairman Richard Schulze sold 300,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total value of $27,753,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kathleen Scarlett sold 116,062 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $92.15, for a total value of $10,695,113.30. Following the completion of the transaction, the executive vice president owned 116,173 shares in the company, valued at $10,705,341.95. The trade was a 49.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.50% of the stock is currently owned by corporate insiders.

Best Buy Price Performance

Shares of Best Buy stock opened at $94.16 on Thursday. The business has a 50 day simple moving average of $88.79 and a two-hundred day simple moving average of $78.19. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $96.53. The stock has a market capitalization of $19.75 billion, a P/E ratio of 15.67, a PEG ratio of 2.35 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.41.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.08. The business 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 business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, analysts predict that Best Buy Co., Inc. will post 6.81 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were paid a $0.96 dividend. 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 is currently 63.89%.

Best Buy Company 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.