Federation des caisses Desjardins du Quebec Cuts Stake in Best Buy Co., Inc. $BBY

Key Points

• Federation des caisses Desjardins du Quebec significantly reduced its stake in Best Buy Co., Inc. by 71.5% during the first quarter, selling 48,169 shares and retaining 19,170 shares worth approximately $1.41 million.
• In terms of insider activity, Chairman Richard M. Schulze sold 196,100 shares for about $14.5 million, while the company reported a total insider sale of 201,833 shares valued at roughly $14.94 million in the last ninety days.
• Best Buy's stock is experiencing a decline, currently priced at $76.16, with analysts projecting a consensus earnings per share of 6.18 for the current fiscal year.

Federation des caisses Desjardins du Quebec reduced its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 71.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,170 shares of the technology retailer's stock after selling 48,169 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Best Buy were worth $1,411,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Pinnacle Bancorp Inc. lifted its holdings in shares of Best Buy by 108.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock worth $25,000 after acquiring an additional 178 shares during the period. Vermillion Wealth Management Inc. purchased a new position in shares of Best Buy during the 4th quarter worth about $31,000. Grove Bank & Trust lifted its holdings in shares of Best Buy by 67.1% during the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock worth $32,000 after acquiring an additional 173 shares during the period. LRI Investments LLC lifted its holdings in shares of Best Buy by 36.3% during the 4th quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock worth $45,000 after acquiring an additional 141 shares during the period. Finally, Tompkins Financial Corp purchased a new position in shares of Best Buy during the 1st quarter worth about $48,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 196,100 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mathew Watson sold 2,018 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the sale, the chief accounting officer directly owned 20,132 shares of the company's stock, valued at $1,545,332.32. This trade represents a 9.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,833 shares of company stock valued at $14,941,472 in the last ninety days. 0.59% of the stock is owned by corporate insiders.

Best Buy Stock Down 1.2%

Shares of NYSE:BBY opened at $76.16 on Monday. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $103.48. The company has a 50 day moving average of $70.54 and a two-hundred day moving average of $70.67. The company has a market capitalization of $16.10 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 2.00 and a beta of 1.19.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter last year, the company earned $1.34 earnings per share. Best Buy's revenue for the quarter was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a $0.95 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 5.0%. Best Buy's dividend payout ratio (DPR) is 104.97%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BBY shares. Wedbush increased their price objective on shares of Best Buy from $70.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. UBS Group cut their price target on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Evercore ISI raised their price target on shares of Best Buy from $75.00 to $77.00 and gave the company an "in-line" rating in a report on Friday, August 29th. Wells Fargo & Company raised their price target on shares of Best Buy from $67.00 to $75.00 and gave the company a "buy" rating in a report on Friday, August 29th. Finally, Bank of America cut their price target on shares of Best Buy from $63.00 to $60.00 and set an "underperform" rating on the stock in a report on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $82.59.

Best Buy Company Profile

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.

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