Geode Capital Management LLC Sells 8,400 Shares of Best Buy Co., Inc. $BBY

Geode Capital Management LLC trimmed its holdings in Best Buy Co., Inc. (NYSE:BBY) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,201,566 shares of the technology retailer’s stock after selling 8,400 shares during the quarter. Geode Capital Management LLC owned about 2.48% of Best Buy worth $347,009,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Huntington National Bank increased its holdings in Best Buy by 12.0% in the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock worth $98,000 after buying an additional 139 shares in the last quarter. Linden Thomas Advisory Services LLC increased its holdings in Best Buy by 0.9% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock worth $1,114,000 after buying an additional 152 shares in the last quarter. Applied Finance Capital Management LLC increased its holdings in Best Buy by 3.8% in the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock worth $286,000 after buying an additional 157 shares in the last quarter. International Private Wealth Advisors LLC increased its holdings in Best Buy by 5.2% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock worth $224,000 after buying an additional 165 shares in the last quarter. Finally, J. Team Financial Inc. increased its holdings in Best Buy by 4.2% in the 4th quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer’s stock worth $285,000 after buying an additional 171 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on BBY. Evercore lifted their price objective on Best Buy from $65.00 to $85.00 in a report on Friday. Daiwa Securities Group cut their price target on Best Buy from $80.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. BNP Paribas Exane boosted their price target on Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on Best Buy from $76.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Wells Fargo & Company boosted their price target on Best Buy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Best Buy presently has an average rating of “Hold” and a consensus target price of $78.60.

Best Buy Stock Down 3.9%

NYSE BBY opened at $74.89 on Tuesday. The stock’s 50 day moving average is $62.51 and its 200 day moving average is $66.78. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 12 month low of $55.10 and a 12 month high of $84.99. The stock has a market cap of $15.78 billion, a PE ratio of 13.87, a P/E/G ratio of 2.09 and a beta of 1.30.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period in the previous year, the firm earned $1.15 EPS. 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. Research analysts predict that Best Buy Co., Inc. will post 6.5 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a yield of 5.1%. Best Buy’s payout ratio is presently 71.11%.

Best Buy News Summary

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

• Positive Sentiment: Best Buy’s latest quarter came in ahead of expectations, with revenue of $8.94 billion and EPS of $1.28, helped by stronger AI laptop demand and gaming sales. Should You Buy Best Buy Stock for Its 4.9%-Yielding Dividend?
• Positive Sentiment: Management highlighted growth in Marketplace and Best Buy Ads, plus new tech launches, while reaffirming its fiscal 2027 outlook. Best Buy Q1 Earnings Call Highlights Marketplace Growth, CEO Shift
• Positive Sentiment: Commentary around AI-powered laptops and the company’s turnaround potential has added optimism that Best Buy can benefit from better product cycles and demand trends. Best Buy’s AI Laptop Boost Sparks Hope for a BBY Turnaround
• Positive Sentiment: Jim Cramer also pointed to Best Buy as a strong performer, reinforcing a bullish investor narrative around the stock. Jim Cramer Highlights the Strong Performance of Best Buy
• Neutral Sentiment: Several articles frame Best Buy as a closely watched retail name and discuss whether the stock is undervalued, suggesting investors are still debating the durability of the rebound. Best Buy Co Inc (BBY) Stock Down 3.8% — Now Undervalued? GF Score: 72/100
• Negative Sentiment: Despite solid earnings, BBY has sold off, indicating the market may be reacting to valuation concerns, expectations for slower growth, or simple post-earnings profit-taking. Best Buy Co Inc (BBY) Stock Down 3.8% — Now Undervalued? GF Score: 72/100
• Negative Sentiment: A separate article cautioning on unpopular stocks may add a modestly bearish tone, though it does not appear to cite a new company-specific problem. 3 Unpopular Stocks We Approach with Caution

Insiders Place Their Bets

In other Best Buy news, CEO Corie S. Barry sold 42,869 shares of Best Buy 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 $2,744,473.38. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Matthew M. Bilunas sold 11,356 shares of Best Buy 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 completion of the sale, the chief financial officer directly owned 76,884 shares in the company, valued at approximately $4,922,113.68. The trade was a 12.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 77,247 shares of company stock worth $4,945,353. Insiders own 0.59% of the company’s stock.

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.