Savant Capital LLC Sells 58,356 Shares of Best Buy Co., Inc. $BBY

Savant Capital LLC cut its stake in Best Buy Co., Inc. (NYSE:BBY) by 92.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,523 shares of the technology retailer’s stock after selling 58,356 shares during the period. Savant Capital LLC’s holdings in Best Buy were worth $303,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Best Buy by 2.4% in the third quarter. Vanguard Group Inc. now owns 23,947,415 shares of the technology retailer’s stock valued at $1,810,904,000 after buying an additional 552,360 shares during the period. Concurrent Investment Advisors LLC lifted its stake in Best Buy by 100.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 70,280 shares of the technology retailer’s stock valued at $4,704,000 after buying an additional 35,239 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new position in Best Buy in the fourth quarter valued at approximately $1,741,000. Waratah Capital Advisors Ltd. acquired a new position in Best Buy in the third quarter valued at approximately $3,032,000. Finally, Trust Investment Advisors acquired a new position in Best Buy in the third quarter valued at approximately $1,939,000. 80.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BBY. UBS Group reissued a “neutral” rating and issued a $86.00 price target (up from $85.00) on shares of Best Buy in a research note on Friday, May 29th. Weiss Ratings lowered Best Buy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. The Goldman Sachs Group boosted their price target on Best Buy from $59.00 to $62.00 and gave the company a “sell” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. boosted their price target on Best Buy from $76.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Loop Capital boosted their price target on Best Buy from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Six investment 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 MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $79.05.

Trending Headlines about Best Buy

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

• Positive Sentiment: Best Buy reported its first period of positive comparable sales growth in several years, driven by stronger demand in gaming, AI laptops, mobile phones, and other new technology products. The company also pointed to improving higher-margin businesses like Marketplace and Best Buy Ads, which could support profitability. Best Buy Sales Turn Positive As AI Tech Grows And CEO Change Nears
• Positive Sentiment: Management’s Q1 update and earnings call were viewed favorably after the company outperformed expectations and highlighted improving demand across emerging product categories, suggesting consumers are still spending on bigger-ticket electronics despite a tougher backdrop. Best Buy’s Q1 Earnings Call: Our Top 5 Analyst Questions
• Positive Sentiment: KeyCorp raised its FY2027, FY2028, and Q4 2027 earnings estimates for Best Buy, signaling slightly better expectations for future profitability. KeyCorp estimate updates
• Neutral Sentiment: Richard Schulze sold 500,350 Best Buy shares, a headline that may draw attention but does not necessarily change the near-term operating outlook. Richard Schulze Sells 500,350 Shares of Best Buy (NYSE:BBY) Stock
• Neutral Sentiment: Broader retail earnings commentary suggested consumers remain cautious overall, which provides context for BBY’s results but is not specific enough to be a direct catalyst by itself. What Do Retail Earnings Reports Tell Us About Consumer Spending Trends?

Insider Activity at Best Buy

In other news, EVP Jason J. Bonfig sold 6,336 shares of the company’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 transaction, the executive vice president directly owned 79,137 shares of the company’s stock, valued at $5,066,350.74. This represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Corie S. Barry sold 42,869 shares of the company’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 $2,744,473.38. Following the transaction, the chief executive officer directly owned 523,138 shares in the company, valued at $33,491,294.76. The trade was a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 579,381 shares of company stock valued at $43,163,654 over the last three months. 0.47% of the stock is currently owned by company insiders.

Best Buy Price Performance

Shares of NYSE:BBY opened at $71.56 on Friday. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $84.99. The stock’s 50 day moving average is $63.28 and its 200-day moving average is $66.72. The firm has a market capitalization of $15.08 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.90 and a beta of 1.30.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The company had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same period in the prior year, the firm earned $1.15 earnings per share. Best Buy’s revenue for the quarter was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, June 18th. Best Buy’s dividend payout ratio is presently 71.11%.

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.