Caisse DE Depot ET Placement DU Quebec Invests $2.90 Million in Best Buy Co., Inc. $BBY

Key Points

• Caisse DE Depot ET Placement DU Quebec has invested approximately $2.90 million in Best Buy, acquiring 39,369 shares in the first quarter.
• Best Buy's quarterly earnings exceeded expectations, reporting $1.28 EPS and revenues of $9.44 billion, while also giving guidance for FY 2026 EPS of 6.150-6.300.
• The company declared a quarterly dividend of $0.95 per share, reflecting a 5.2% dividend yield based on a payout ratio of 92.91%.

Caisse DE Depot ET Placement DU Quebec bought a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 39,369 shares of the technology retailer's stock, valued at approximately $2,898,000.

A number of other large investors also recently bought and sold shares of BBY. Pacer Advisors Inc. lifted its position in Best Buy by 3,890.0% in the first quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer's stock valued at $75,353,000 after buying an additional 998,021 shares during the last quarter. Northern Trust Corp raised its position in Best Buy by 31.3% in the 4th quarter. Northern Trust Corp now owns 2,942,832 shares of the technology retailer's stock valued at $252,495,000 after purchasing an additional 701,287 shares in the last quarter. Nuveen LLC acquired a new stake in Best Buy in the 1st quarter valued at about $39,579,000. Charles Schwab Investment Management Inc. raised its position in Best Buy by 6.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer's stock valued at $512,986,000 after purchasing an additional 408,605 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Best Buy in the 4th quarter valued at about $29,090,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard M. Schulze sold 729,201 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the completion of the sale, the chairman owned 196,100 shares in the company, valued at approximately $14,305,495. This represents a 78.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.59% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup reaffirmed a "buy" rating on shares of Best Buy in a research report on Thursday. Piper Sandler reaffirmed a "neutral" rating and set a $75.00 price objective (down from $82.00) on shares of Best Buy in a research report on Monday, July 14th. Guggenheim reaffirmed a "buy" rating and set a $90.00 price objective on shares of Best Buy in a research report on Friday. Truist Financial upped their price objective on Best Buy from $69.00 to $72.00 and gave the stock a "hold" rating in a research report on Friday. Finally, Barclays reaffirmed an "equal weight" rating and issued a $74.00 target price on shares of Best Buy in a research report on Friday. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Best Buy presently has an average rating of "Hold" and a consensus price target of $84.44.

Best Buy Stock Performance

Shares of BBY traded up $0.07 during midday trading on Tuesday, reaching $73.71. 2,118,638 shares of the stock were exchanged, compared to its average volume of 3,658,714. The business's 50-day moving average price is $69.97 and its 200 day moving average price is $71.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $103.48. The company has a market capitalization of $15.58 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.95 and a beta of 1.19.

Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The business had revenue of $9.44 billion for the quarter, compared to analysts' expectations of $9.23 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The business's revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be paid a dividend of $0.95 per share. The ex-dividend date is Thursday, September 18th. This represents a $3.80 annualized dividend and a dividend yield of 5.2%. Best Buy's dividend payout ratio is 104.97%.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.