Best Buy Co., Inc. $BBY Holdings Trimmed by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S has significantly reduced its stake in Best Buy Co., Inc., lowering its holdings by 65.5% to 10,642 shares, valued at approximately $783,000.
• Best Buy reported $1.15 earnings per share for the most recent quarter, surpassing analysts' expectations of $1.09, although revenue declined by 0.9% year-over-year.
• The company recently declared a quarterly dividend of $0.95 per share, yielding around 5.0% annually, with a payout ratio of nearly 92.91%.

BI Asset Management Fondsmaeglerselskab A S decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 65.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,642 shares of the technology retailer's stock after selling 20,175 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Best Buy were worth $783,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BBY. Pinnacle Bancorp Inc. boosted its holdings in Best Buy by 108.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock worth $25,000 after acquiring an additional 178 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new stake in shares of Best Buy in the 4th quarter valued at $31,000. Ancora Advisors LLC grew its holdings in Best Buy by 18,700.0% in the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock worth $32,000 after acquiring an additional 374 shares during the last quarter. Grove Bank & Trust increased its position in shares of Best Buy by 67.1% during the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock valued at $32,000 after buying an additional 173 shares during the period. Finally, LRI Investments LLC lifted its position in Best Buy by 36.3% during the 4th quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock valued at $45,000 after acquiring an additional 141 shares during the period. Institutional investors and hedge funds own 80.96% of the company's stock.

Best Buy Price Performance

Shares of NYSE:BBY traded down $0.57 on Tuesday, reaching $73.75. 4,829,979 shares of the company were exchanged, compared to its average volume of 3,626,647. The firm has a market cap of $15.59 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.99 and a beta of 1.21. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.71. The company has a 50-day moving average of $69.36 and a 200-day moving average of $71.62.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.06. Best Buy had a return on equity of 46.40% and a net margin of 2.13%.The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.77 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The firm's revenue for the quarter was down .9% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Equities analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Wednesday, June 18th. Best Buy's dividend payout ratio (DPR) is presently 92.91%.

Analyst Ratings Changes

BBY has been the subject of several analyst reports. UBS Group reduced their target price on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 30th. Telsey Advisory Group restated an "outperform" rating and set a $90.00 price objective on shares of Best Buy in a research note on Friday. BNP Paribas raised shares of Best Buy to a "hold" rating in a research report on Friday, May 30th. Piper Sandler reissued a "neutral" rating and issued a $75.00 price objective (down previously from $82.00) on shares of Best Buy in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. decreased their target price on Best Buy from $95.00 to $88.00 and set an "overweight" rating on the stock in a research report on Friday. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Best Buy presently has an average rating of "Hold" and an average price target of $84.50.

Insiders Place Their Bets

In related news, Chairman Richard M. Schulze sold 729,201 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $72.95, for a total value of $53,195,212.95. Following the completion of the transaction, the chairman directly owned 196,100 shares of the company's stock, valued at $14,305,495. This represents a 78.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.