AXQ Capital LP Raises Stock Position in Best Buy Co., Inc. $BBY

AXQ Capital LP lifted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 519.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,178 shares of the technology retailer’s stock after purchasing an additional 14,403 shares during the quarter. AXQ Capital LP’s holdings in Best Buy were worth $1,150,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas acquired a new stake in Best Buy during the 4th quarter worth approximately $2,928,000. New Mexico Educational Retirement Board increased its position in shares of Best Buy by 4.6% during the fourth quarter. New Mexico Educational Retirement Board now owns 9,071 shares of the technology retailer’s stock worth $607,000 after acquiring an additional 400 shares during the period. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Best Buy during the fourth quarter worth $4,397,000. Rothschild Wealth LLC acquired a new stake in shares of Best Buy in the fourth quarter valued at $457,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Best Buy by 2.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 86,811 shares of the technology retailer’s stock valued at $5,810,000 after purchasing an additional 1,908 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy News Summary

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

• Positive Sentiment: Daiwa Securities raised its price target on Best Buy to $77 from $68, keeping a neutral rating. The higher target suggests improved expectations for the shares and supports the recent move higher in the stock. MarketScreener
• Positive Sentiment: Best Buy’s latest earnings results were stronger than expected, with revenue and EPS beating estimates and management maintaining its fiscal 2027 outlook. That kind of execution can help support investor confidence in the stock. Yahoo Finance
• Positive Sentiment: Commentary around Best Buy’s marketplace growth, Best Buy Ads, new product launches, and an AI-laptop boost has added to optimism that the retailer can keep improving growth trends. MSN
• Neutral Sentiment: Jim Cramer highlighted Best Buy as a stock some investors may be overlooking, and other coverage noted the company’s strong year-to-date performance and attractive dividend yield. These items may help sentiment, but they are not direct catalysts. Yahoo Finance
• Negative Sentiment: Best Buy Chairman Richard M. Schulze sold 500,350 shares worth about $38.1 million, and CAO Mathew Watson also sold shares. Insider selling can sometimes weigh on investor sentiment, especially after a strong run in the stock. SEC filing
• Negative Sentiment: One market report said Best Buy stock underperformed competitors on Tuesday, which may signal that traders are rotating toward other retail names despite the company’s recent operational progress. MarketWatch

Analysts Set New Price Targets

A number of research firms have issued reports on BBY. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a research report on Wednesday, March 4th. BNP Paribas Exane upped their target price on shares of Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Truist Financial raised their target price on shares of Best Buy from $66.00 to $81.00 and gave the company a “hold” rating in a report on Friday, May 29th. Wedbush boosted their price target on shares of Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Loop Capital increased their price objective on shares of Best Buy from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $79.05.

Insider Activity at Best Buy

In related news, Chairman Richard M. Schulze sold 500,350 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $76.12, for a total value of $38,086,642.00. Following the completion of the sale, the chairman directly owned 10,930,586 shares of the company’s stock, valued at $832,036,206.32. This represents a 4.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew M. Bilunas sold 11,356 shares of the firm’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 $727,011.12. Following the transaction, the chief financial officer owned 76,884 shares in the company, valued at $4,922,113.68. This represents a 12.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 579,381 shares of company stock valued at $43,163,654. Corporate insiders own 0.59% of the company’s stock.

Best Buy Stock Performance

Shares of BBY opened at $72.93 on Wednesday. The company has a market capitalization of $15.37 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $84.99. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $62.51 and a 200 day moving average price of $66.78.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the previous year, the firm earned $1.15 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts predict that Best Buy Co., Inc. will post 6.54 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 5.3%. The ex-dividend date is Thursday, June 18th. Best Buy’s dividend payout ratio is currently 71.11%.

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.