PFA Pension Forsikringsaktieselskab Acquires Shares of 25,662 Best Buy Co., Inc. $BBY

Key Points

• PFA Pension Forsikringsaktieselskab acquired a new stake of 25,662 shares in Best Buy in Q4, valued at about $1.74 million.
• Best Buy beat quarterly EPS estimates ($2.61 vs. $2.48) while revenue fell 1% to $13.81 billion and the company set FY2027 guidance of 6.30–6.60 EPS; analysts' consensus is a "Hold" with an average target of $71.75.
• Best Buy raised its quarterly dividend to $0.96 (annualized $3.84) for a 6.7% yield, even as insiders sold 77,247 shares in the past 90 days, including CEO Corie Barry selling 42,869 shares.

PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 25,662 shares of the technology retailer's stock, valued at approximately $1,741,000.

Several other large investors also recently bought and sold shares of BBY. Woodline Partners LP lifted its holdings in shares of Best Buy by 40.1% in the 1st quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer's stock valued at $1,210,000 after acquiring an additional 4,701 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Best Buy by 4.4% during the second quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer's stock worth $1,984,000 after purchasing an additional 1,234 shares during the last quarter. Investment Management Corp of Ontario lifted its position in shares of Best Buy by 127.7% during the second quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer's stock worth $872,000 after purchasing an additional 7,288 shares during the last quarter. Ieq Capital LLC lifted its position in shares of Best Buy by 155.4% during the second quarter. Ieq Capital LLC now owns 160,568 shares of the technology retailer's stock worth $10,779,000 after purchasing an additional 97,688 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Best Buy by 32.0% in the second quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer's stock valued at $21,051,000 after acquiring an additional 76,102 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BBY. Weiss Ratings restated a "hold (c)" rating on shares of Best Buy in a report on Wednesday, January 21st. DA Davidson set a $78.00 price objective on shares of Best Buy in a report on Thursday, March 5th. Wedbush upped their price objective on shares of Best Buy from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Telsey Advisory Group dropped their target price on Best Buy from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 4th. Finally, Truist Financial dropped their target price on Best Buy from $73.00 to $66.00 and set a "hold" rating on the stock in a research report on Tuesday, March 3rd. Nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $71.75.

Best Buy Trading Down 3.9%

Shares of NYSE:BBY opened at $57.71 on Tuesday. The business's 50 day moving average price is $63.32 and its 200-day moving average price is $69.48. Best Buy Co., Inc. has a 1 year low of $57.52 and a 1 year high of $84.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, beating the consensus estimate of $2.48 by $0.13. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm had revenue of $13.81 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same period in the prior year, the company earned $2.58 EPS. The firm's revenue was down 1.0% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, equities research analysts forecast that Best Buy Co., Inc. will post 6.5 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th were paid a $0.96 dividend. This is a boost from Best Buy's previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.7%. Best Buy's dividend payout ratio is 76.19%.

Insiders Place Their Bets

In other news, CEO Corie S. Barry sold 42,869 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $2,744,473.38. Following the completion of the transaction, the chief executive officer directly owned 523,138 shares in the company, valued at approximately $33,491,294.76. This represents a 7.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mathew Watson sold 3,298 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $211,137.96. Following the transaction, the chief accounting officer owned 23,192 shares of the company's stock, valued at approximately $1,484,751.84. This represents a 12.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 77,247 shares of company stock worth $4,945,353. 0.59% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.