Teacher Retirement System of Texas Purchases 79,944 Shares of Best Buy Co., Inc. $BBY

Key Points

• Teacher Retirement System of Texas boosted its Best Buy stake by 63.3%, buying 79,944 shares to hold 206,177 shares worth about $13.8 million (≈0.10% of the company) at quarter-end.
• Company insiders have been net sellers recently — CEO Corie S. Barry sold 42,869 shares and insiders sold 77,247 shares worth $4.95 million over the past 90 days, leaving insiders with roughly 0.47% ownership.
• Best Buy posted a quarterly EPS beat ($2.61 vs. $2.48) with revenue down 1%, set FY27 guidance of $6.30–$6.60 EPS, analysts' consensus is a Hold with a $74.85 target, and the company raised its quarterly dividend to $0.96 (≈6.4% yield).

Teacher Retirement System of Texas grew its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 63.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 206,177 shares of the technology retailer's stock after acquiring an additional 79,944 shares during the period. Teacher Retirement System of Texas owned 0.10% of Best Buy worth $13,799,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BBY. Woodline Partners LP raised its stake in shares of 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. raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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. raised its stake 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 during the last quarter. Institutional investors own 80.96% of the company's stock.

Insider Buying and Selling

In other news, CEO Corie S. Barry sold 42,869 shares of the business'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 $2,744,473.38. Following the completion of the transaction, the chief executive officer owned 523,138 shares of the company's stock, valued at $33,491,294.76. The trade was a 7.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd G. Hartman sold 5,339 shares of the business's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $341,802.78. Following the completion of the transaction, the insider directly owned 44,098 shares of the company's stock, valued at $2,823,153.96. This trade represents a 10.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 77,247 shares of company stock worth $4,945,353 over the last ninety days. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

BBY has been the subject of a number of research reports. The Goldman Sachs Group lowered shares of Best Buy from a "buy" rating to a "sell" rating and set a $59.00 price target for the company. in a report on Monday, April 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Best Buy in a report on Wednesday, January 21st. Wedbush lowered their price target on shares of Best Buy from $80.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, February 24th. Daiwa Securities Group lowered their price target on shares of Best Buy from $80.00 to $68.00 and set a "neutral" rating for the company in a report on Thursday, March 5th. Finally, Guggenheim reissued a "buy" rating and issued a $90.00 price target on shares of Best Buy in a report on Wednesday, March 4th. Eight research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $74.85.

Best Buy Price Performance

BBY opened at $60.45 on Friday. The company has a fifty day moving average price of $63.87 and a two-hundred day moving average price of $70.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. Best Buy Co., Inc. has a 52 week low of $59.77 and a 52 week high of $84.99. The firm has a market capitalization of $12.64 billion, a PE ratio of 11.99, a P/E/G ratio of 1.52 and a beta of 1.35.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.13. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The firm had revenue of $13.81 billion during the quarter, compared to analyst estimates of $13.96 billion. During the same quarter in the previous year, the business earned $2.58 EPS. The business's quarterly 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. As a group, analysts anticipate that Best Buy Co., Inc. will post 6.5 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th were issued a $0.96 dividend. This is a positive change 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 annualized dividend and a dividend yield of 6.4%. Best Buy's dividend payout ratio (DPR) is presently 76.19%.

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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