BI Asset Management Fondsmaeglerselskab A S Increases Holdings in Best Buy Co., Inc. $BBY

Key Points

• BI Asset Management Fondsmaeglerselskab A S boosted its Best Buy stake by 842% in the fourth quarter, ending with 102,749 shares valued at about $6.9 million. Institutional investors still own a large majority of the company, at 80.96% of shares outstanding.
• Best Buy reported better-than-expected quarterly results, with earnings of $1.28 per share versus estimates of $1.23 and revenue of $8.94 billion versus expectations of $8.82 billion. The company also said comparable sales turned positive, helped by demand for gaming, AI laptops, mobile phones, and other new tech products.
• The company declared a quarterly dividend of $0.96 per share, or $3.84 annualized, for a yield of 5.4%. Meanwhile, analysts remain cautious overall, with a consensus rating of Hold and a consensus price target of $79.05.

BI Asset Management Fondsmaeglerselskab A S grew its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 842.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,749 shares of the technology retailer's stock after buying an additional 91,841 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Best Buy were worth $6,877,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BBY. Palisade Asset Management LLC bought a new stake in Best Buy during the third quarter valued at about $25,000. Torren Management LLC acquired a new position in shares of Best Buy during the fourth quarter worth $25,000. Hillsdale Investment Management Inc. acquired a new position in shares of Best Buy during the fourth quarter worth $29,000. Quest 10 Wealth Builders Inc. lifted its holdings in shares of Best Buy by 239.2% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer's stock valued at $30,000 after purchasing an additional 311 shares during the last quarter. Finally, Activest Wealth Management boosted its position in shares of Best Buy by 1,247.1% in the 4th quarter. Activest Wealth Management now owns 458 shares of the technology retailer's stock worth $31,000 after purchasing an additional 424 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Insider Buying and Selling at Best Buy

In related news, CEO Corie S. Barry sold 42,869 shares of Best Buy stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $2,744,473.38. Following the completion of the transaction, the chief executive officer owned 523,138 shares in the company, valued at $33,491,294.76. The trade was a 7.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mathew Watson sold 1,784 shares of the business's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $73.80, for a total transaction of $131,659.20. Following the transaction, the chief accounting officer owned 21,630 shares of the company's stock, valued at $1,596,294. This trade represents a 7.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 579,381 shares of company stock valued at $43,163,654. Insiders own 0.59% of the company's stock.

Best Buy Price Performance

BBY stock opened at $71.56 on Monday. The business has a fifty day moving average of $63.28 and a two-hundred day moving average of $66.66. 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 stock has a market cap of $15.08 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.90 and a beta of 1.30. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $84.99.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business had revenue of $8.94 billion during the quarter, compared to analysts' expectations of $8.82 billion. During the same period last year, the business earned $1.15 earnings per share. The business's revenue for the quarter was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, research analysts anticipate that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be paid a $0.96 dividend. The ex-dividend date is Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 5.4%. Best Buy's payout ratio is 71.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BBY shares. Wells Fargo & Company boosted their price objective on shares of Best Buy from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, May 28th. Citigroup boosted their target price on shares of Best Buy from $60.00 to $79.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. HSBC dropped their price target on shares of Best Buy from $96.00 to $85.00 in a research report on Thursday, February 26th. KeyCorp reiterated a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Best Buy from $76.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $79.05.

Best Buy News Roundup

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

• Positive Sentiment: Best Buy reported its first period of positive comparable sales growth in several years, driven by stronger demand in gaming, AI laptops, mobile phones, and other new technology products. The company also pointed to improving higher-margin businesses like Marketplace and Best Buy Ads, which could support profitability. Best Buy Sales Turn Positive As AI Tech Grows And CEO Change Nears
• Positive Sentiment: Management’s Q1 update and earnings call were viewed favorably after the company outperformed expectations and highlighted improving demand across emerging product categories, suggesting consumers are still spending on bigger-ticket electronics despite a tougher backdrop. Best Buy’s Q1 Earnings Call: Our Top 5 Analyst Questions
• Positive Sentiment: KeyCorp raised its FY2027, FY2028, and Q4 2027 earnings estimates for Best Buy, signaling slightly better expectations for future profitability. KeyCorp estimate updates
• Neutral Sentiment: Richard Schulze sold 500,350 Best Buy shares, a headline that may draw attention but does not necessarily change the near-term operating outlook. Richard Schulze Sells 500,350 Shares of Best Buy NYSE: BBY Stock
• Neutral Sentiment: Broader retail earnings commentary suggested consumers remain cautious overall, which provides context for BBY’s results but is not specific enough to be a direct catalyst by itself. What Do Retail Earnings Reports Tell Us About Consumer Spending Trends?

Best Buy Company 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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