Best Buy Co., Inc. $BBY Shares Purchased by National Pension Service

National Pension Service increased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 43.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,607 shares of the technology retailer’s stock after purchasing an additional 49,003 shares during the quarter. National Pension Service’s holdings in Best Buy were worth $10,816,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC lifted its holdings in shares of Best Buy by 26.3% during the fourth quarter. Rothschild Investment LLC now owns 9,175 shares of the technology retailer’s stock worth $614,000 after purchasing an additional 1,910 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Best Buy during the fourth quarter worth about $577,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Best Buy during the fourth quarter worth about $8,311,000. Baker Avenue Asset Management LP acquired a new stake in shares of Best Buy during the fourth quarter worth about $383,000. Finally, Huntington National Bank lifted its holdings in shares of Best Buy by 24.1% during the fourth quarter. Huntington National Bank now owns 1,611 shares of the technology retailer’s stock worth $108,000 after purchasing an additional 313 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Up 0.3%

Best Buy stock opened at $78.16 on Monday. The stock has a market capitalization of $16.47 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 2.09 and a beta of 1.30. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $84.99. The business has a 50 day simple moving average of $62.29 and a 200-day simple moving average of $66.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. The business had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, analysts anticipate that Best Buy Co., Inc. will post 6.5 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be given a $0.96 dividend. The ex-dividend date is Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.9%. Best Buy’s payout ratio is 71.11%.

Insiders Place Their Bets

In related news, EVP Jason J. Bonfig sold 6,336 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $405,630.72. Following the completion of the sale, the executive vice president directly owned 79,137 shares in the company, valued at approximately $5,066,350.74. The trade was a 7.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mathew Watson sold 3,298 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $211,137.96. Following the sale, the chief accounting officer owned 23,192 shares of the company’s stock, valued at $1,484,751.84. The trade was a 12.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 77,247 shares of company stock valued at $4,945,353. 0.59% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BBY has been the subject of a number of research reports. BNP Paribas Exane lifted their target price on Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday. The Goldman Sachs Group lifted their price target on Best Buy from $59.00 to $62.00 and gave the company a “sell” rating in a research report on Friday. Wedbush lifted their price target on Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday. Weiss Ratings cut Best Buy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group lifted their price target on Best Buy from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $78.60.

Best Buy News Roundup

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy reported Q1 adjusted EPS of $1.28, above estimates of $1.22, and revenue of $8.94 billion, also ahead of forecasts, with comparable sales rising 2.0%. Best Buy Q1 Earnings Beat Estimates, Comparable Sales Rise 2%
• Positive Sentiment: The company reaffirmed its full-year guidance and highlighted improving margins and stronger demand in gaming, computing, and cellphones, suggesting the turnaround is gaining traction. Best Buy Reports First Quarter Results
• Positive Sentiment: Several analyst firms raised price targets after the earnings release, including Jefferies, Loop Capital, Guggenheim, Morgan Stanley, Citigroup, and others, indicating improving sentiment around the stock. Analyst rating updates
• Positive Sentiment: Retail-industry news also pointed to selective consumer spending still favoring value-focused names like Best Buy, adding to the rally. Retail Rally Sends Kohl’s, Best Buy, Dollar Tree Up As Much As 18%
• Neutral Sentiment: DA Davidson reaffirmed its buy rating but set a $78 price target, which is roughly in line with the current share price and does not materially change the valuation debate. DA Davidson rating reaffirmation
• Neutral Sentiment: Best Buy also announced a quarterly dividend of $0.96 per share, reinforcing its income appeal for investors. Dividend announcement

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.