WINTON GROUP Ltd Sells 67,249 Shares of Best Buy Co., Inc. $BBY

Key Points

• WINTON GROUP Ltd reduced its Best Buy stake by 50.4% in the fourth quarter, selling 67,249 shares and leaving it with 66,051 shares worth about $4.42 million.
• Best Buy’s latest quarterly results topped expectations, with EPS of $1.28 versus $1.23 expected and revenue of $8.94 billion versus $8.82 billion expected. The company also raised attention for improving sales in areas like gaming, AI laptops, and mobile phones.
• Despite some bullish analyst targets, Wall Street remains cautious overall: Best Buy has a consensus rating of Hold with an average price target of $79.05, while the stock also offers a quarterly dividend of $0.96, or a 5.4% yield.

WINTON GROUP Ltd cut its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 50.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,051 shares of the technology retailer's stock after selling 67,249 shares during the quarter. WINTON GROUP Ltd's holdings in Best Buy were worth $4,421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Best Buy by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer's stock valued at $1,623,409,000 after buying an additional 307,905 shares during the period. AQR Capital Management LLC raised its holdings in 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 buying an additional 3,496,254 shares during the period. Northern Trust Corp raised its holdings in Best Buy by 5.5% during the 3rd quarter. Northern Trust Corp now owns 2,888,664 shares of the technology retailer's stock valued at $218,441,000 after buying an additional 150,871 shares during the period. Norges Bank purchased a new stake in Best Buy during the 4th quarter valued at $174,685,000. Finally, Bank of New York Mellon Corp raised its holdings in Best Buy by 26.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,218,885 shares of the technology retailer's stock valued at $148,510,000 after buying an additional 464,041 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Insider Transactions at Best Buy

In other news, Chairman Richard M. Schulze sold 500,350 shares of the firm's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $76.12, for a total value of $38,086,642.00. Following the completion of the transaction, the chairman directly owned 10,930,586 shares in the company, valued at $832,036,206.32. This trade represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jason J. Bonfig sold 6,336 shares of the firm's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $405,630.72. Following the completion of the transaction, the executive vice president owned 79,137 shares of the company's stock, valued at approximately $5,066,350.74. The trade was a 7.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 579,381 shares of company stock valued at $43,163,654. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. HSBC cut their price objective on Best Buy from $96.00 to $85.00 in a research report on Thursday, February 26th. Telsey Advisory Group set a $90.00 price target on Best Buy and gave the stock an "outperform" rating in a research report on Friday, May 29th. The Goldman Sachs Group lifted their price objective on shares of Best Buy from $59.00 to $62.00 and gave the stock a "sell" rating in a research report on Friday, May 29th. Loop Capital upped their price target on Best Buy from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Finally, Daiwa Securities Group upped their price target on Best Buy from $68.00 to $77.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 2nd. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $79.05.

Best Buy Trading Up 0.8%

Best Buy stock opened at $71.56 on Friday. The stock has a 50-day moving average of $63.28 and a two-hundred day moving average of $66.72. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $84.99. The stock has a market cap of $15.08 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.90 and a beta of 1.30.

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

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be paid a $0.96 dividend. 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 dividend payout ratio (DPR) is presently 71.11%.

Key Stories Impacting 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?

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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