Caisse de depot et placement du Quebec Buys Shares of 660,499 Best Buy Co., Inc. $BBY

Caisse de depot et placement du Quebec purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 660,499 shares of the technology retailer’s stock, valued at approximately $50,119,000.

Several other institutional investors have also bought and sold shares of BBY. BlackRock Inc. acquired a new position in shares of Best Buy during the second quarter valued at approximately $1,932,812,000. Vanguard Group Inc. lifted its position in Best Buy by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer’s stock worth $1,623,409,000 after purchasing an additional 307,905 shares during the period. AQR Capital Management LLC boosted its stake in Best Buy by 30.9% during the 4th quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer’s stock valued at $613,001,000 after purchasing an additional 2,160,968 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Best Buy by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer’s stock valued at $498,805,000 after purchasing an additional 160,713 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Best Buy by 6.1% during the 4th quarter. Invesco Ltd. now owns 4,732,080 shares of the technology retailer’s stock valued at $316,718,000 after purchasing an additional 271,988 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Trading Down 4.2%

Shares of NYSE:BBY opened at $83.77 on Friday. The firm has a fifty day moving average of $83.01 and a two-hundred day moving average of $71.26. 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 12-month low of $55.10 and a 12-month high of $91.26. The firm has a market capitalization of $17.66 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 2.50 and a beta of 1.29.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.08. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.59 billion. During the same period in the prior year, the business posted $1.28 earnings per share. Best Buy’s revenue for the quarter was up 3.6% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, equities analysts expect that Best Buy Co., Inc. will post 6.6 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Thursday, September 17th. Best Buy’s dividend payout ratio is presently 71.11%.

Analyst Ratings Changes

BBY has been the topic of a number of research reports. Bank of America started coverage on Best Buy in a research note on Monday, August 3rd. They issued an “underperform” rating and a $80.00 price objective on the stock. Weiss Ratings raised Best Buy from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. Morgan Stanley boosted their price target on shares of Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Loop Capital downgraded shares of Best Buy from a “buy” rating to a “hold” rating and set a $82.00 price target for the company. in a report on Monday, July 13th. Finally, UBS Group restated a “neutral” rating and issued a $86.00 price target (up from $85.00) on shares of Best Buy in a research report on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $83.35.

Insiders Place Their Bets

In other news, Chairman Richard M. Schulze sold 224,705 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the completion of the sale, the chairman directly owned 10,430,936 shares of the company’s stock, valued at $814,656,101.60. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 500,000 shares of company stock valued at $39,065,226. Corporate insiders own 0.50% of the company’s stock.

More Best Buy News

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

• Positive Sentiment: Quarterly results exceeded expectations: Adjusted EPS was $1.47 versus the $1.39 consensus estimate, while revenue rose 3.6% year over year to $9.78 billion, ahead of the $9.59 billion forecast. Best Buy Reports Second Quarter Results
• Positive Sentiment: Comparable sales showed momentum: Enterprise comparable sales increased 4.1%, above guidance, led by a 4.5% gain in the domestic business. Strength in computing and demand for AI-related products, including AI glasses, supported the improvement. Best Buy tops quarterly estimates, raises outlook as computing shows strength
• Positive Sentiment: Best Buy raised its fiscal 2027 outlook: Adjusted EPS guidance increased to $6.70-$6.90 from $6.30-$6.60, and revenue guidance was lifted to $42.3-$42.8 billion, above the roughly $42.1 billion analyst consensus. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Omnichannel initiatives could support longer-term growth: The retailer is rolling out its “Ask Blue” conversational AI assistant, expanding smaller-format stores and broadening online and in-store customer engagement. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Neutral Sentiment: Management cited resilient technology-upgrade and replacement demand despite cautious consumer spending. The company is also preparing for incoming CEO Jason Bonfig, creating a potential transition factor for investors. Best Buy Raises Outlook as Sales Grow
• Negative Sentiment: Shares fell despite the earnings beat: The market reaction suggests investors may have expected an even stronger outlook or were locking in gains following BBY’s substantial run toward its 52-week high. Concerns about cautious consumers and the sustainability of discretionary electronics demand remain overhangs. Why Best Buy Stock Fell Despite Strong Q2 Earnings Beat

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.