Best Buy Co., Inc. $BBY Position Increased by Candriam S.C.A.

Key Points

• Candriam S.C.A. significantly increased its stake in Best Buy, boosting its holdings by 238.3% in Q1 to 463,160 shares valued at about $29.7 million. Institutional investors still own the vast majority of the company, with roughly 80.96% of shares held by funds and other large holders.
• Best Buy beat quarterly expectations, reporting EPS of $1.28 versus the $1.23 estimate and revenue of $8.94 billion versus $8.82 billion expected. The company also raised its FY2027 guidance to 6.3–6.6 EPS, signaling management confidence.
• The stock has rallied amid mixed insider and analyst signals, trading near its 52-week high after the earnings report and dividend announcement. Analysts currently rate Best Buy a consensus “Hold,” while insiders have recently sold shares, including Chairman Richard M. Schulze.

Candriam S.C.A. boosted its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 238.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 463,160 shares of the technology retailer's stock after purchasing an additional 326,253 shares during the period. Candriam S.C.A. owned 0.22% of Best Buy worth $29,735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Krane Funds Advisors LLC increased its holdings in Best Buy by 3.0% in the fourth quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer's stock worth $346,000 after buying an additional 151 shares during the last quarter. Linden Thomas Advisory Services LLC increased its holdings in shares of Best Buy by 0.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer's stock valued at $1,114,000 after acquiring an additional 152 shares during the last quarter. Applied Finance Capital Management LLC raised its stake in shares of Best Buy by 3.8% in the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer's stock valued at $286,000 after acquiring an additional 157 shares in the last quarter. International Private Wealth Advisors LLC raised its stake in shares of Best Buy by 5.2% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer's stock valued at $224,000 after acquiring an additional 165 shares in the last quarter. Finally, J. Team Financial Inc. lifted its holdings in Best Buy by 4.2% in the 4th quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer's stock worth $285,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Stock Performance

BBY stock traded up $2.98 on Friday, reaching $82.97. 3,625,789 shares of the company were exchanged, compared to its average volume of 3,489,515. The firm has a market capitalization of $17.49 billion, a PE ratio of 15.37, a PEG ratio of 2.20 and a beta of 1.30. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $84.99. The stock's fifty day moving average price is $70.16 and its 200 day moving average price is $67.07. 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 quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.05. The company had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.82 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business's quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the business posted $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, research analysts anticipate that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.6%. Best Buy's payout ratio is currently 71.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BBY shares. JPMorgan Chase & Co. increased their price target on Best Buy from $76.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Evercore boosted their price objective on shares of Best Buy from $65.00 to $85.00 in a research note on Friday, May 29th. Citigroup upped their price objective on shares of Best Buy from $60.00 to $79.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Truist Financial lifted their target price on shares of Best Buy from $66.00 to $81.00 and gave the stock a "hold" rating in a report on Friday, May 29th. Finally, BNP Paribas Exane upped their price target on shares of Best Buy from $74.00 to $76.00 and gave the company a "neutral" rating in a 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 company's stock. Based on data from MarketBeat, Best Buy presently has an average rating of "Hold" and an average target price of $79.50.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 224,705 shares of the business's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $78.10, for a total value of $17,549,460.50. Following the sale, the chairman owned 10,430,936 shares of the company's stock, valued at $814,656,101.60. The trade was a 2.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mathew Watson sold 1,784 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $73.80, for a total transaction of $131,659.20. Following the completion of the transaction, the chief accounting officer owned 21,630 shares of the company's stock, valued at approximately $1,596,294. This represents a 7.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,002,134 shares of company stock worth $77,283,527. 0.50% of the stock is currently owned by company insiders.

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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