36,027 Shares in Best Buy Co., Inc. $BBY Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 36,027 shares of the technology retailer's stock, valued at approximately $2,734,000.

A number of other institutional investors also recently added to or reduced their stakes in BBY. Torren Management LLC purchased a new stake in shares of Best Buy in the 4th quarter valued at approximately $25,000. MV Capital Management Inc. purchased a new stake in shares of Best Buy during the 4th quarter worth $25,000. Palisade Asset Management LLC purchased a new stake in shares of Best Buy during the 3rd quarter worth $25,000. Hillsdale Investment Management Inc. acquired a new position in shares of Best Buy during the fourth quarter worth $29,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Best Buy during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Stock Performance

NYSE BBY opened at $82.34 on Monday. The company has a fifty day moving average of $83.16 and a two-hundred day moving average of $71.37. The company has a market capitalization of $17.35 billion, a PE ratio of 13.70, a P/E/G ratio of 2.29 and a beta of 1.29. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $91.26. 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 - Get Free Report) last posted its earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.08. Best Buy had a return on equity of 48.14% and a net margin of 3.01%.The business had revenue of $9.78 billion for the quarter, compared to analysts' expectations of $9.59 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The business's revenue 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. As a group, analysts expect that Best Buy Co., Inc. will post 6.79 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $3.84 annualized dividend and a yield of 4.7%. Best Buy's payout ratio is 63.89%.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 224,705 shares of the business's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $78.10, for a total value of $17,549,460.50. Following the completion of the sale, the chairman owned 10,430,936 shares in the company, valued at approximately $814,656,101.60. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 500,000 shares of company stock valued at $39,065,226 in the last three months. 0.50% of the stock is currently owned by insiders.

Trending Headlines about Best Buy

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

• Positive Sentiment: Quarterly results exceeded expectations. Best Buy reported Q2 FY27 revenue of $9.78 billion, up 3.6% year over year and above the $9.59 billion consensus estimate. Adjusted earnings of $1.47 per share also topped the $1.39 consensus, while comparable sales rose 4.1%. Best Buy Reports Second Quarter Results
• Positive Sentiment: Best Buy raised its full-year outlook. The company now expects adjusted fiscal 2027 earnings of $6.70 to $6.90 per share, up from $6.30 to $6.60 previously, and revenue of $42.3 billion to $42.8 billion. The improved forecast reflects strength in computing and steady demand for technology upgrades and replacements. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Analyst sentiment improved. Guggenheim and DA Davidson each raised their BBY price target from $90 to $95 and assigned a “buy” rating, implying roughly 15% upside from the referenced price.
• Positive Sentiment: Shareholder returns remain attractive. Best Buy declared a quarterly dividend of $0.96 per share, equivalent to an annualized yield of approximately 4.7% at the referenced price.
• Neutral Sentiment: Growth initiatives could support the longer-term retail recovery. Best Buy is expanding its omnichannel strategy, including the Ask Blue conversational AI assistant and smaller-format stores, while digital-led sales growth was highlighted during the earnings call. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Negative Sentiment: The negative market reaction likely reflects high expectations and lingering risks. Although results beat estimates, the outlook increase was relatively modest versus consensus, international revenue declined, and investors remain cautious about discretionary spending. Analysts are also described as conflicted on BBY, suggesting uncertainty about how durable the recovery will be. Analysts Conflicted on These Consumer Cyclical Names

Wall Street Analyst Weigh In

BBY has been the topic of a number of analyst reports. Wells Fargo & Company raised their price target on Best Buy from $65.00 to $85.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 11th. Evercore raised their target price on Best Buy from $65.00 to $85.00 in a research report on Friday, May 29th. KeyCorp restated a "sector weight" rating on shares of Best Buy in a research note on Monday, June 22nd. DA Davidson upped their price target on Best Buy from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday. Finally, Truist Financial set a $100.00 price target on Best Buy in a report on Thursday. Seven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $85.40.

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.

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