Best Buy Co., Inc. $BBY Stock Holdings Lessened by PensionDanmark Pensionsforsikringsaktieselskab

Key Points

• PensionDanmark cut its Best Buy stake by 71.9% in the second quarter, selling 14,760 shares and retaining 5,780 shares valued at approximately $439,000. Institutional investors collectively own 80.96% of BBY.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and an average price target of $80.55; price targets from individual firms ranged from $75 to $95.
• Best Buy exceeded quarterly earnings and revenue expectations, reporting EPS of $1.28 and revenue of $8.94 billion, while maintaining a quarterly dividend of $0.96 per share, equivalent to a 4.7% annualized yield.

PensionDanmark Pensionsforsikringsaktieselskab cut its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 71.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,780 shares of the technology retailer's stock after selling 14,760 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Best Buy were worth $439,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC grew its position 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 acquiring an additional 151 shares in the last quarter. Applied Finance Capital Management LLC grew its holdings in 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 buying an additional 157 shares during the last quarter. J. Team Financial Inc. grew its stake in shares of Best Buy by 4.2% in the fourth quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer's stock worth $285,000 after acquiring an additional 171 shares during the last quarter. UMB Bank n.a. grew its position in Best Buy by 6.2% in the 4th quarter. UMB Bank n.a. now owns 3,158 shares of the technology retailer's stock worth $211,000 after purchasing an additional 185 shares during the last quarter. Finally, Arjuna Capital grew its position in Best Buy by 1.0% during the fourth quarter. Arjuna Capital now owns 20,673 shares of the technology retailer's stock worth $1,384,000 after buying an additional 195 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BBY shares. Wedbush upped their price target on Best Buy from $70.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Weiss Ratings raised Best Buy from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 29th. Bank of America began coverage on Best Buy in a research report on Monday, August 3rd. They set an "underperform" rating and a $80.00 price objective on the stock. Telsey Advisory Group upped their target price on Best Buy from $90.00 to $95.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. Finally, UBS Group reaffirmed a "neutral" rating and set a $86.00 price objective (up from $85.00) on shares of Best Buy in a report on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $80.55.

Insiders Place Their Bets

In other news, CAO Mathew Watson sold 1,784 shares of the firm's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the transaction, the chief accounting officer directly owned 21,630 shares in the company, valued at $1,596,294. This trade represents a 7.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard M. Schulze sold 500,350 shares of the firm's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $76.12, for a total value of $38,086,642.00. Following the transaction, the chairman owned 10,930,586 shares in the company, valued at approximately $832,036,206.32. This trade represents a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders 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 Trading Up 0.6%

BBY stock opened at $82.47 on Tuesday. The company has a market cap of $17.38 billion, a P/E ratio of 15.27, a PEG ratio of 2.36 and a beta of 1.29. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $91.26. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $80.08 and a 200-day moving average of $69.51.

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, beating the consensus estimate of $1.23 by $0.05. The business had revenue of $8.94 billion for the quarter, compared to analysts' expectations of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The firm's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, equities research analysts expect that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.7%. The ex-dividend date was Thursday, June 18th. Best Buy's dividend payout ratio is currently 71.11%.

About Best Buy

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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