Best Buy Co., Inc. $BBY Shares Newly Purchased by Andra AP fonden

Key Points

• Andra AP fonden purchased a new 17,417-share stake in Best Buy during the second quarter, valued at approximately $1.32 million. Institutional investors collectively own about 80.96% of the company.
• Best Buy reported stronger-than-expected quarterly results, with EPS of $1.47 and revenue of $9.78 billion, while revenue increased 3.6% year over year. The company also announced a $0.96 quarterly dividend, equivalent to a 4.2% annualized yield.
• The stock carries a consensus “Hold” rating and an average price target of $85.40, below its recent trading level. Investors also face risks from insider selling, potential memory-chip cost pressures, and hardware-demand weakness.

Andra AP fonden purchased a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 17,417 shares of the technology retailer's stock, valued at approximately $1,322,000.

Several other large investors also recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its position in shares of Best Buy by 18.1% during the second quarter. Sequoia Financial Advisors LLC now owns 12,049 shares of the technology retailer's stock worth $914,000 after purchasing an additional 1,845 shares during the period. Cidel Asset Management Inc. grew its position in Best Buy by 7.7% during the second quarter. Cidel Asset Management Inc. now owns 6,502 shares of the technology retailer's stock valued at $493,000 after purchasing an additional 466 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Best Buy by 5.3% during the 2nd quarter. Arizona State Retirement System now owns 56,957 shares of the technology retailer's stock worth $4,322,000 after purchasing an additional 2,859 shares in the last quarter. Paragon Capital Management Ltd bought a new position in shares of Best Buy during the 2nd quarter valued at $264,000. Finally, Empirical Finance LLC lifted its holdings in Best Buy by 153.0% in the 2nd quarter. Empirical Finance LLC now owns 17,467 shares of the technology retailer's stock worth $1,325,000 after purchasing an additional 10,563 shares during the last quarter. Institutional investors own 80.96% of the company's stock.

Best Buy News Roundup

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

• Positive Sentiment: Amazon Fire TV partnership expands advertising opportunity: Best Buy and Amazon expanded their multi-year Fire TV agreement to make Best Buy Ads inventory available across Insignia televisions beginning around February 2027. The deal could turn one-time electronics purchases into recurring advertising revenue and strengthen Best Buy’s retail-media strategy. Best Buy Ads generated approximately $900 million in fiscal 2026 revenue and is expected to approach a $1 billion annual run rate, potentially supporting higher margins and earnings over time. Best Buy and Amazon Expand Fire TV Partnership
• Positive Sentiment: Core operating performance remains resilient: Best Buy’s latest quarterly results exceeded expectations, including $1.47 in EPS versus the $1.39 consensus estimate, while revenue reached $9.78 billion. Comparable sales also reportedly outpaced forecasts, supporting management’s fiscal 2027 outlook and providing a stable base for the advertising business to grow.
• Neutral Sentiment: Leadership transition reinforces the strategic pivot: Jason Bonfig is scheduled to become CEO on November 1, replacing Corie Barry. His background in retail media and store-format initiatives signals continued emphasis on advertising monetization and improving the efficiency of Best Buy’s physical footprint, although execution risks remain.
• Negative Sentiment: Executive share sale creates a sentiment overhang: EVP Kathleen Scarlett sold 116,062 shares for approximately $10.7 million, reducing her direct ownership by nearly half. The transaction follows other reported insider selling and may concern investors because the sales occurred near the stock’s 52-week high. SEC insider transaction filing
• Negative Sentiment: Analyst caution and hardware pressures remain risks: The consensus rating is reportedly Hold, with an average price target below recent trading levels. Rising memory-chip costs could also lift computer prices and weaken unit demand, limiting growth in Best Buy’s traditional low-margin retail business.

Best Buy Stock Performance

Shares of BBY stock opened at $91.07 on Friday. The stock has a market cap of $19.10 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 2.37 and a beta of 1.28. The stock has a 50-day moving average of $87.31 and a 200-day moving average of $74.73. 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 Co., Inc. has a one year low of $55.10 and a one year high of $96.53.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, beating the consensus estimate of $1.39 by $0.08. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The firm had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.59 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The business's quarterly revenue was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.82 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.2%. The ex-dividend date is Thursday, September 17th. Best Buy's dividend payout ratio (DPR) is 63.89%.

Analyst Ratings Changes

Several research analysts have commented on BBY shares. The Goldman Sachs Group lifted their price target on Best Buy from $62.00 to $71.00 and gave the stock a "sell" rating in a research report on Friday, August 28th. Piper Sandler lifted their price objective on Best Buy from $77.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, August 20th. Guggenheim lifted their price objective on Best Buy from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, August 28th. Loop Capital lowered Best Buy from a "buy" rating to a "hold" rating and set a $82.00 price target on the stock. in a research report on Monday, July 13th. Finally, Wall Street Zen upgraded shares of Best Buy from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Six research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Best Buy has an average rating of "Hold" and a consensus target price of $85.40.

Insider Buying and Selling

In other Best Buy news, EVP Kathleen Scarlett sold 116,062 shares of the company's stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $92.15, for a total transaction of $10,695,113.30. Following the completion of the transaction, the executive vice president owned 116,173 shares of the company's stock, valued at $10,705,341.95. This represents a 49.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Richard Schulze sold 300,000 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total transaction of $27,753,000.00. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is currently owned by company insiders.

Best Buy Profile

Best Buy Co, Inc is a specialty retailer of technology products and services operating under the Best Buy brand. The company sells consumer electronics, computers, mobile phones, appliances, entertainment products, smart-home equipment, and related accessories through its retail stores, websites, and other sales channels.

Best Buy also provides technology support, installation, repair, and consultation services through Geek Squad. Its offerings include assistance with device setup, home theater installation, computer and appliance support, and technology solutions for consumers and small businesses.

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