Best Buy Co., Inc. $BBY Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE cut its Best Buy stake by 14.2% in Q4, selling 30,357 shares and leaving it with 183,716 shares worth about $12.3M; institutional investors own roughly 80.96% of BBY.
• Company insiders sold sizable holdings — CEO Corie Barry sold 42,869 shares and CFO Matthew Bilunas sold 11,356 shares on March 23, with insiders selling 77,247 shares over the last 90 days and now owning 0.47% of the stock.
• Best Buy beat Q4 EPS estimates ($2.61 vs. $2.48) while revenue fell 1%, set FY2027 guidance of $6.30–$6.60 EPS, and raised its quarterly dividend to $0.96 (annualized $3.84), a 6.4% yield.

US Bancorp DE decreased its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,716 shares of the technology retailer's stock after selling 30,357 shares during the quarter. US Bancorp DE owned about 0.09% of Best Buy worth $12,296,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Keybank National Association OH raised its position in shares of Best Buy by 11.9% during the fourth quarter. Keybank National Association OH now owns 4,719 shares of the technology retailer's stock worth $316,000 after purchasing an additional 503 shares during the period. Skylands Capital LLC raised its position in shares of Best Buy by 178.8% during the fourth quarter. Skylands Capital LLC now owns 43,425 shares of the technology retailer's stock worth $2,906,000 after purchasing an additional 27,850 shares during the period. Certuity LLC acquired a new stake in shares of Best Buy during the fourth quarter worth $316,000. Torren Management LLC acquired a new stake in shares of Best Buy during the fourth quarter worth $25,000. Finally, M&T Bank Corp raised its position in shares of Best Buy by 11.4% during the fourth quarter. M&T Bank Corp now owns 12,639 shares of the technology retailer's stock worth $846,000 after purchasing an additional 1,298 shares during the period. Institutional investors and hedge funds own 80.96% of the company's stock.

Best Buy Stock Down 0.7%

NYSE:BBY opened at $60.09 on Friday. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.48 and a beta of 1.23. Best Buy Co., Inc. has a 1-year low of $58.17 and a 1-year high of $84.99. The company has a current ratio of 1.11, a quick ratio of 0.43 and a debt-to-equity ratio of 0.39. The business's fifty day moving average price is $63.32 and its 200 day moving average price is $69.53.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.13. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The company had revenue of $13.81 billion for the quarter, compared to analyst estimates of $13.96 billion. During the same period in the prior year, the firm posted $2.58 EPS. The business's revenue was down 1.0% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, sell-side analysts forecast that Best Buy Co., Inc. will post 6.5 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Tuesday, March 24th. This is an increase from Best Buy's previous quarterly dividend of $0.95. Best Buy's payout ratio is currently 76.19%.

Insider Buying and Selling

In other Best Buy news, CEO Corie S. Barry sold 42,869 shares of the company's 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 transaction, the chief executive officer directly owned 523,138 shares of the company's stock, valued at $33,491,294.76. This represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew M. Bilunas sold 11,356 shares of the company's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $727,011.12. Following the completion of the transaction, the chief financial officer directly owned 76,884 shares in the company, valued at approximately $4,922,113.68. The trade was a 12.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 77,247 shares of company stock worth $4,945,353. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Guggenheim reaffirmed a "buy" rating and set a $90.00 target price on shares of Best Buy in a research report on Wednesday, March 4th. Jefferies Financial Group cut their target price on Best Buy from $94.00 to $89.00 and set a "buy" rating on the stock in a research report on Monday, February 9th. The Goldman Sachs Group lowered Best Buy from a "buy" rating to a "sell" rating and set a $59.00 target price on the stock. in a research report on Monday, April 13th. Wells Fargo & Company cut their target price on Best Buy from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 18th. Finally, Wedbush upped their price target on Best Buy from $7.00 to $8.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $71.75.

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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