Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 16,500 Shares of Best Buy Co., Inc. $BBY

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its holdings in Best Buy Co., Inc. by 27.8%, owning 42,822 shares worth approximately $3.15 million after selling 16,500 shares in the 1st quarter.
• Best Buy reported a net margin of 2.13% and quarterly earnings per share of $1.15, surpassing analyst estimates, but showed a 0.9% decline in revenue year-over-year.
• The company's dividend payout ratio stands at 92.91%, with a quarterly dividend of $0.95, translating to a 5.3% dividend yield for investors.

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 27.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,822 shares of the technology retailer's stock after selling 16,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Best Buy were worth $3,152,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BBY. Pacer Advisors Inc. grew its holdings in shares of Best Buy by 3,890.0% during the 1st quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer's stock valued at $75,353,000 after purchasing an additional 998,021 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Best Buy by 31.3% during 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 during the last quarter. Nuveen LLC bought a new stake in shares of Best Buy during the 1st quarter valued at approximately $39,579,000. Canada Pension Plan Investment Board grew its holdings in shares of Best Buy by 461.2% during the 4th quarter. Canada Pension Plan Investment Board now owns 621,994 shares of the technology retailer's stock valued at $53,367,000 after purchasing an additional 511,161 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Best Buy by 6.2% during 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 during the last quarter. 80.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BBY has been the topic of several research reports. UBS Group decreased 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. Wedbush decreased their price target on shares of Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. BNP Paribas raised shares of Best Buy to a "hold" rating in a report on Friday, May 30th. Telsey Advisory Group reissued an "outperform" rating and set a $90.00 target price on shares of Best Buy in a report on Friday, May 30th. Finally, Truist Financial boosted their target price on shares of Best Buy from $64.00 to $69.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $85.72.

Best Buy Stock Down 2.4%

Shares of Best Buy stock traded down $1.7530 during trading on Wednesday, reaching $72.3470. 2,593,574 shares of the company traded hands, compared to its average volume of 3,621,558. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.32. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.71. The company has a 50 day moving average price of $69.19 and a 200-day moving average price of $72.04. The firm has a market capitalization of $15.29 billion, a PE ratio of 17.69, a P/E/G ratio of 1.90 and a beta of 1.21.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.06. Best Buy had a net margin of 2.13% and a return on equity of 46.40%. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.77 billion. During the same quarter in the previous year, the company earned $1.20 EPS. Best Buy's quarterly revenue was down .9% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, equities research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 19th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Wednesday, June 18th. Best Buy's payout ratio is presently 92.91%.

Insider Activity

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the business's stock in a transaction on 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. The trade was a 78.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.59% of the stock is owned by insiders.

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.