43,731 Shares in Best Buy Co., Inc. $BBY Acquired by BNP Paribas

Key Points

• BNP Paribas opened a new position in Best Buy during the fourth quarter, buying 43,731 shares worth about $2.93 million. Other institutional investors also adjusted their holdings, and institutions now own 80.96% of the company.
• Best Buy reported better-than-expected quarterly results, with EPS of $1.28 topping estimates and revenue of $8.94 billion beating forecasts. Management also reiterated its FY 2027 guidance, which has helped support analyst optimism.
• The company announced a quarterly dividend of $0.96 per share, payable July 9, implying an annualized yield of about 5.3%. Meanwhile, analysts mostly remain cautious, with a consensus rating of Hold and a target price around $79.05.

BNP Paribas purchased a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,731 shares of the technology retailer's stock, valued at approximately $2,928,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Best Buy by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 23,947,415 shares of the technology retailer's stock worth $1,810,904,000 after buying an additional 552,360 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of 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 acquiring an additional 35,239 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Best Buy in the fourth quarter valued at about $1,741,000. Allianz Asset Management GmbH boosted its stake in shares of Best Buy by 5.7% in the third quarter. Allianz Asset Management GmbH now owns 1,639,202 shares of the technology retailer's stock worth $123,956,000 after acquiring an additional 89,057 shares during the period. Finally, Waratah Capital Advisors Ltd. purchased a new stake in shares of Best Buy during the third quarter worth about $3,032,000. Institutional investors own 80.96% of the company's stock.

Best Buy Stock Down 2.7%

Shares of BBY opened at $72.93 on Wednesday. The stock 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 1 year low of $55.10 and a 1 year high of $84.99. The business's 50 day simple moving average is $62.51 and its 200-day simple moving average is $66.78. 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 - Get Free Report) last posted its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The firm had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period last year, the firm posted $1.15 earnings per share. Best Buy's revenue for the quarter 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. As a group, equities analysts expect that Best Buy Co., Inc. will post 6.54 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be issued 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 5.3%. Best Buy's payout ratio is 71.11%.

Key Headlines Impacting Best Buy

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

Insider Activity

In other news, EVP Kathleen Scarlett sold 8,049 shares of the company's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $515,296.98. Following the sale, the executive vice president directly owned 102,669 shares in the company, valued at approximately $6,572,869.38. This represents a 7.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Corie S. Barry sold 42,869 shares of Best Buy stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 523,138 shares of the company's stock, valued at approximately $33,491,294.76. This represents a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 579,381 shares of company stock worth $43,163,654. 0.59% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BBY. Citigroup lifted their target price on Best Buy from $60.00 to $79.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. KeyCorp reiterated a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 4th. Daiwa Securities Group boosted their target price on shares of Best Buy from $68.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday. Wedbush upped their target price on shares of Best Buy from $70.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Finally, Loop Capital raised their target price on shares of Best Buy from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $79.05.

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.

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