Savant Capital LLC Has $303,000 Holdings in Best Buy Co., Inc. $BBY

Key Points

• Savant Capital LLC sharply reduced its Best Buy stake by 92.8% in the fourth quarter, leaving it with 4,523 shares valued at about $303,000.
• Best Buy’s latest quarter beat expectations, with EPS of $1.28 and revenue of $8.94 billion, while management highlighted improving demand in areas like gaming, AI laptops, and mobile phones.
• The company also declared a quarterly dividend of $0.96 per share, and analyst sentiment remains cautious overall with an average “Hold” rating and a consensus price target of $79.05.

Savant Capital LLC lessened its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 92.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,523 shares of the technology retailer's stock after selling 58,356 shares during the period. Savant Capital LLC's holdings in Best Buy were worth $303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BBY. Woodline Partners LP grew its position in Best Buy by 40.1% in the first 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. grew its position in Best Buy by 4.4% in the second quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer's stock valued at $1,984,000 after acquiring an additional 1,234 shares during the last quarter. Investment Management Corp of Ontario grew its position in Best Buy by 127.7% in the second quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer's stock valued at $872,000 after acquiring an additional 7,288 shares during the last quarter. Ieq Capital LLC grew its position in Best Buy by 155.4% in the second quarter. Ieq Capital LLC now owns 160,568 shares of the technology retailer's stock valued at $10,779,000 after acquiring an additional 97,688 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in 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 during the last quarter. Institutional investors own 80.96% of the company's stock.

Trending Headlines about Best Buy

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

• Positive Sentiment: Best Buy reported its first period of positive comparable sales growth in several years, driven by stronger demand in gaming, AI laptops, mobile phones, and other new technology products. The company also pointed to improving higher-margin businesses like Marketplace and Best Buy Ads, which could support profitability. Best Buy Sales Turn Positive As AI Tech Grows And CEO Change Nears
• Positive Sentiment: Management’s Q1 update and earnings call were viewed favorably after the company outperformed expectations and highlighted improving demand across emerging product categories, suggesting consumers are still spending on bigger-ticket electronics despite a tougher backdrop. Best Buy’s Q1 Earnings Call: Our Top 5 Analyst Questions
• Positive Sentiment: KeyCorp raised its FY2027, FY2028, and Q4 2027 earnings estimates for Best Buy, signaling slightly better expectations for future profitability. KeyCorp estimate updates
• Neutral Sentiment: Richard Schulze sold 500,350 Best Buy shares, a headline that may draw attention but does not necessarily change the near-term operating outlook. Richard Schulze Sells 500,350 Shares of Best Buy NYSE: BBY Stock
• Neutral Sentiment: Broader retail earnings commentary suggested consumers remain cautious overall, which provides context for BBY’s results but is not specific enough to be a direct catalyst by itself. What Do Retail Earnings Reports Tell Us About Consumer Spending Trends?

Insider Activity at Best Buy

In related news, CFO Matthew M. Bilunas sold 11,356 shares of the company's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $727,011.12. Following the sale, the chief financial officer directly owned 76,884 shares in the company, valued at $4,922,113.68. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kathleen Scarlett sold 8,049 shares of the company's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $515,296.98. Following the completion of the sale, the executive vice president owned 102,669 shares in the company, valued at $6,572,869.38. The trade was a 7.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 579,381 shares of company stock valued at $43,163,654. Corporate insiders own 0.47% of the company's stock.

Analyst Ratings Changes

BBY has been the topic of a number of recent analyst reports. Wedbush lifted their target price on Best Buy from $70.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Weiss Ratings cut Best Buy from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, May 7th. BNP Paribas Exane lifted their target price on Best Buy from $74.00 to $76.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Citigroup lifted their target price on Best Buy from $60.00 to $79.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Finally, Piper Sandler restated a "neutral" rating and set a $77.00 price target on shares of Best Buy in a report on Thursday, May 28th. Six equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $79.05.

Best Buy Stock Performance

NYSE:BBY opened at $71.56 on Friday. The stock has a market cap of $15.08 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 1.90 and a beta of 1.30. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The stock's 50-day moving average is $63.28 and its 200-day moving average is $66.72. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $84.99.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.05. The company had revenue of $8.94 billion for the quarter, compared to analysts' expectations of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The business's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Announces Dividend

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 issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Thursday, June 18th. Best Buy's payout ratio is 71.11%.

Best Buy 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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