Best Buy Co., Inc. $BBY Shares Sold by National Pension Service

Key Points

• The National Pension Service has significantly reduced its stake in Best Buy Co., Inc. by 81.9%, resulting in ownership of only 70,139 shares worth about $5.16 million.
• Best Buy's chairman, Richard M. Schulze, sold 729,201 shares valued at over $53 million, which decreased his total ownership in the company by 78.81%.
• Analysts have mixed ratings on Best Buy, with one sell rating, twelve holds, and eight buy ratings, reflecting differing views on the stock's potential performance moving forward.

National Pension Service decreased its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 81.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,139 shares of the technology retailer's stock after selling 318,342 shares during the period. National Pension Service's holdings in Best Buy were worth $5,163,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BBY. Pinnacle Bancorp Inc. grew its position 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 buying an additional 178 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new stake in Best Buy in the fourth quarter worth about $31,000. Ancora Advisors LLC increased its position in Best Buy by 18,700.0% during the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 374 shares during the period. Grove Bank & Trust raised its holdings in shares of Best Buy by 67.1% in the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 173 shares in the last quarter. Finally, LRI Investments LLC raised its holdings in shares of Best Buy by 36.3% in the 4th quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock valued at $45,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

Analyst Upgrades and Downgrades

BBY has been the topic of several research reports. Loop Capital cut their price objective on shares of Best Buy from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Wedbush reduced their price target on Best Buy from $75.00 to $70.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Barclays decreased their price objective on Best Buy from $89.00 to $74.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. BNP Paribas upgraded Best Buy to a "hold" rating in a research note on Friday, May 30th. Finally, UBS Group cut their price objective on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $85.72.

Best Buy Stock Performance

Shares of BBY traded down $1.7530 during mid-day trading on Wednesday, reaching $72.3470. The company had a trading volume of 2,593,574 shares, compared to its average volume of 3,621,539. The company has a quick ratio of 0.32, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $15.29 billion, a P/E ratio of 17.69, a PEG ratio of 1.90 and a beta of 1.21. The stock has a 50 day moving average of $69.19 and a two-hundred day moving average of $72.04. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $103.71.

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

Best Buy Announces Dividend

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

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of Best Buy stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $72.95, for a total value of $53,195,212.95. Following the completion of the transaction, the chairman directly owned 196,100 shares of the company's stock, valued at $14,305,495. The trade was a 78.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.59% of the company's stock.

Best Buy 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.