Teachers Retirement System of The State of Kentucky Trims Holdings in Best Buy Co., Inc. $BBY

Key Points

• Teachers Retirement System of the State of Kentucky trimmed its Best Buy stake by 6.1% in Q4, selling 21,620 shares and now holding 335,216 shares valued at roughly $22.44 million.
• Insider selling accelerated recently: CEO Corie Barry sold 42,869 shares and CAO Mathew Watson sold 3,298 shares on March 23, with insiders offloading 77,247 shares (~$4.95M) over the past three months and now owning 0.47% of the company.
• Operational and market outlook: Best Buy topped quarterly EPS estimates ($2.61 vs. $2.48), set FY2027 guidance of $6.30–$6.60 EPS, raised its quarterly dividend to $0.96 (6.4% yield), while analysts hold a consensus "Hold" rating with an average target of $74.85.

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 335,216 shares of the technology retailer's stock after selling 21,620 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.16% of Best Buy worth $22,436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BBY. AQR Capital Management LLC raised its position in shares of Best Buy by 99.8% during the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer's stock valued at $525,120,000 after acquiring an additional 3,496,254 shares in the last quarter. KBC Group NV raised its position in shares of Best Buy by 293.6% during the 4th quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer's stock valued at $70,464,000 after acquiring an additional 785,294 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Best Buy during the 3rd quarter valued at approximately $55,475,000. Jacobs Levy Equity Management Inc. raised its position in shares of Best Buy by 2,683.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 692,687 shares of the technology retailer's stock valued at $52,381,000 after acquiring an additional 667,801 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Best Buy by 855.5% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 686,644 shares of the technology retailer's stock valued at $46,094,000 after acquiring an additional 614,779 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In other news, 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 completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $2,744,473.38. Following the completion of the transaction, the chief executive officer directly owned 523,138 shares of the company's stock, valued at approximately $33,491,294.76. The trade was a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 77,247 shares of company stock valued at $4,945,353 over the last three months. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on BBY. KeyCorp reissued a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 4th. Guggenheim reissued a "buy" rating and set a $90.00 price target on shares of Best Buy in a research report on Wednesday, March 4th. Barclays dropped their price target on Best Buy from $81.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 8th. Citigroup upped their price target on Best Buy from $67.00 to $69.00 and gave the company a "neutral" rating in a research report on Wednesday, March 4th. Finally, Jefferies Financial Group dropped their price target on Best Buy from $94.00 to $89.00 and set a "buy" rating on the stock in a research report on Monday, February 9th. Eight investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $74.85.

Best Buy Price Performance

Shares of NYSE BBY opened at $60.45 on Friday. Best Buy Co., Inc. has a 1-year low of $59.77 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 business's fifty day moving average price is $63.87 and its two-hundred day moving average price is $69.97. 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 issued its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $13.96 billion. During the same period last year, the company earned $2.58 earnings per share. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, research analysts expect that Best Buy Co., Inc. will post 6.5 EPS for the current 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 given a $0.96 dividend. This is a boost from Best Buy's previous quarterly dividend of $0.95. This represents a $3.84 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Tuesday, March 24th. Best Buy's dividend payout ratio is 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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