United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys Shares of 124,180 Best Buy Co., Inc. $BBY

Key Points

• United Super Pty Ltd bought a new stake in Best Buy during the fourth quarter, purchasing 124,180 shares worth about $8.31 million and representing roughly 0.06% of the company.
• Best Buy recently reported better-than-expected quarterly results, with EPS of $1.28 and revenue of $8.94 billion, while also reaffirming guidance and maintaining a quarterly dividend of $0.96 per share.
• Insider activity was mostly selling, including CEO Corie S. Barry and EVP Kathleen Scarlett, while analysts currently have a consensus rating of Hold with an average price target of $70.75.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 124,180 shares of the technology retailer's stock, valued at approximately $8,311,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund owned about 0.06% of Best Buy at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BBY. AQR Capital Management LLC increased its stake in Best Buy by 99.8% during the third quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer's stock valued at $525,120,000 after purchasing an additional 3,496,254 shares during the last quarter. KBC Group NV increased its stake in Best Buy by 293.6% during the fourth quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer's stock valued at $70,464,000 after purchasing an additional 785,294 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Best Buy by 14,865.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 771,159 shares of the technology retailer's stock valued at $51,614,000 after purchasing an additional 766,006 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Best Buy during the third quarter valued at $55,475,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Best Buy by 2,683.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 692,687 shares of the technology retailer's stock worth $52,381,000 after acquiring an additional 667,801 shares during the last quarter. Institutional investors own 80.96% of the company's stock.

Insiders Place Their Bets

In other Best Buy news, CEO Corie S. Barry sold 42,869 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 523,138 shares of the company's stock, valued at approximately $33,491,294.76. This represents a 7.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kathleen Scarlett sold 8,049 shares of the company's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $515,296.98. Following the completion of the sale, the executive vice president directly owned 102,669 shares of the company's stock, valued at $6,572,869.38. The trade was a 7.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 77,247 shares of company stock valued at $4,945,353. Corporate insiders own 0.47% of the company's stock.

Best Buy Stock Performance

BBY stock opened at $74.84 on Friday. The company has a market capitalization of $15.77 billion, a P/E ratio of 14.85, a PEG ratio of 1.59 and a beta of 1.22. The company has a 50-day simple moving average of $61.99 and a 200 day simple moving average of $66.80. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $84.99. The company has a quick ratio of 0.43, a current ratio of 1.11 and a debt-to-equity ratio of 0.39.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Sell-side analysts predict that Best Buy Co., Inc. will post 6.5 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $3.84 annualized dividend and a yield of 5.1%. Best Buy's dividend payout ratio is presently 76.19%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BBY. Guggenheim restated a "buy" rating and set a $90.00 price target on shares of Best Buy in a research report on Wednesday, March 4th. Telsey Advisory Group lowered their price target on shares of Best Buy from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, March 4th. KeyCorp restated a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 4th. Evercore set a $65.00 price target on shares of Best Buy in a research report on Tuesday, April 14th. Finally, 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 research report on Monday, April 13th. Eight equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $70.75.

Key Best Buy News

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

• Positive Sentiment: Best Buy beat Q1 EPS and revenue estimates, with comparable sales turning positive and margins improving. Best Buy Reports First Quarter Results
• Positive Sentiment: The company reaffirmed its outlook and issued FY2027 guidance that was close to consensus, reducing concern about a near-term slowdown. Best Buy Surges on Earnings. Its 5% Yield Looks Even Better.
• Positive Sentiment: Jefferies raised its price target on BBY to $89 and reiterated a buy rating, suggesting additional upside after the earnings rally. Best Buy price target raised by Jefferies
• Neutral Sentiment: Management highlighted demand strength in gaming and computing, partly offset by weakness in appliances, showing the recovery is uneven. Best Buy beats on top and bottom lines as retailer aims to reinvigorate sales

About Best Buy

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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