National Pension Service Purchases 49,003 Shares of Best Buy Co., Inc. $BBY

Key Points

• National Pension Service boosted its Best Buy stake by 43.5% in the fourth quarter, buying 49,003 additional shares and lifting its holding to 161,607 shares worth about $10.8 million.
• Best Buy recently beat quarterly expectations, reporting $1.28 EPS on $8.94 billion in revenue, and it reaffirmed full-year guidance while citing improving demand in categories like gaming, computing, and cellphones.
• The company also announced a quarterly dividend of $0.96 per share, equal to a 4.9% annualized yield, while several analysts raised price targets after the earnings release and the stock maintains a consensus Hold rating.

National Pension Service increased its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 43.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 161,607 shares of the technology retailer's stock after buying an additional 49,003 shares during the quarter. National Pension Service owned about 0.08% of Best Buy worth $10,816,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BBY. Torren Management LLC bought a new stake in Best Buy in the fourth quarter worth $25,000. Palisade Asset Management LLC bought a new stake in Best Buy in the third quarter worth $25,000. Quest 10 Wealth Builders Inc. lifted its position in Best Buy by 239.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer's stock worth $30,000 after buying an additional 311 shares during the last quarter. Activest Wealth Management lifted its position in Best Buy by 1,247.1% in the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer's stock worth $31,000 after buying an additional 424 shares during the last quarter. Finally, Wolff Wiese Magana LLC bought a new stake in Best Buy in the fourth quarter worth $32,000. 80.96% of the stock is currently owned by institutional investors.

Best Buy Stock Performance

BBY stock opened at $78.16 on Monday. The firm has a market cap of $16.47 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 2.09 and a beta of 1.30. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $84.99. The business's fifty day simple moving average is $62.29 and its two-hundred day simple moving average is $66.80.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. The firm had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The business's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts predict that Best Buy Co., Inc. will post 6.5 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be paid a dividend of $0.96 per share. The ex-dividend date is Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 4.9%. Best Buy's dividend payout ratio (DPR) is currently 71.11%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HSBC lowered their price target on Best Buy from $96.00 to $85.00 in a research report on Thursday, February 26th. Evercore increased their target price on Best Buy from $65.00 to $85.00 in a research note on Friday. Loop Capital increased their target price on Best Buy from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Friday. Guggenheim reiterated a "buy" rating and issued a $90.00 target price on shares of Best Buy in a research note on Friday. Finally, UBS Group reiterated a "neutral" rating and issued a $86.00 target price (up from $85.00) on shares of Best Buy in a research note on Friday. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $78.60.

Key Best Buy News

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

• Positive Sentiment: Best Buy reported Q1 adjusted EPS of $1.28, above estimates of $1.22, and revenue of $8.94 billion, also ahead of forecasts, with comparable sales rising 2.0%. Best Buy Q1 Earnings Beat Estimates, Comparable Sales Rise 2%
• Positive Sentiment: The company reaffirmed its full-year guidance and highlighted improving margins and stronger demand in gaming, computing, and cellphones, suggesting the turnaround is gaining traction. Best Buy Reports First Quarter Results
• Positive Sentiment: Several analyst firms raised price targets after the earnings release, including Jefferies, Loop Capital, Guggenheim, Morgan Stanley, Citigroup, and others, indicating improving sentiment around the stock. Analyst rating updates
• Positive Sentiment: Retail-industry news also pointed to selective consumer spending still favoring value-focused names like Best Buy, adding to the rally. Retail Rally Sends Kohl's, Best Buy, Dollar Tree Up As Much As 18%
• Neutral Sentiment: DA Davidson reaffirmed its buy rating but set a $78 price target, which is roughly in line with the current share price and does not materially change the valuation debate. DA Davidson rating reaffirmation
• Neutral Sentiment: Best Buy also announced a quarterly dividend of $0.96 per share, reinforcing its income appeal for investors. Dividend announcement

Insider Activity

In other news, insider Todd G. Hartman sold 5,339 shares of the firm's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $341,802.78. Following the transaction, the insider owned 44,098 shares in the company, valued at approximately $2,823,153.96. This trade represents a 10.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Matthew M. Bilunas sold 11,356 shares of the firm's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $727,011.12. Following the transaction, the chief financial officer owned 76,884 shares in the company, valued at approximately $4,922,113.68. This represents a 12.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 77,247 shares of company stock valued at $4,945,353. Company insiders own 0.59% of the company's stock.

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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