BI Asset Management Fondsmaeglerselskab A S Increases Stock Holdings in Best Buy Co., Inc. $BBY

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 842.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,749 shares of the technology retailer’s stock after buying an additional 91,841 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Best Buy were worth $6,877,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Torren Management LLC acquired a new stake in Best Buy during the 4th quarter worth $25,000. Palisade Asset Management LLC acquired a new position in Best Buy in the third quarter valued at $25,000. Hillsdale Investment Management Inc. acquired a new position in Best Buy in the fourth quarter valued at $29,000. Quest 10 Wealth Builders Inc. grew its holdings in shares of Best Buy by 239.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock worth $30,000 after purchasing an additional 311 shares during the last quarter. Finally, Activest Wealth Management grew its holdings in shares of Best Buy by 1,247.1% during the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock worth $31,000 after purchasing an additional 424 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Up 0.0%

Shares of NYSE BBY opened at $71.56 on Monday. The stock has a market capitalization of $15.08 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.90 and a beta of 1.30. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $84.99. The firm has a 50-day moving average price of $63.28 and a 200 day moving average price of $66.66. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. 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 company posted $1.15 earnings per share. The firm’s quarterly 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. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.56 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. Investors of record on Thursday, June 18th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $3.84 annualized dividend and a yield of 5.4%. Best Buy’s payout ratio is currently 71.11%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BNP Paribas Exane lifted their target price on shares of Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 29th. UBS Group reiterated a “neutral” rating and issued a $86.00 price objective (up from $85.00) on shares of Best Buy in a research report on Friday, May 29th. The Goldman Sachs Group boosted their price objective on shares of Best Buy from $59.00 to $62.00 and gave the company a “sell” rating in a research note on Friday, May 29th. KeyCorp reiterated a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 4th. Finally, HSBC dropped their target price on Best Buy from $96.00 to $85.00 in a research report on Thursday, February 26th. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.05.

Best Buy News Summary

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?

Insider Activity

In other news, EVP Jason J. Bonfig sold 6,336 shares of Best Buy stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction 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 $5,066,350.74. The trade was a 7.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Matthew M. Bilunas sold 11,356 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $727,011.12. Following the completion of the sale, the chief financial officer owned 76,884 shares in the company, valued at $4,922,113.68. This represents a 12.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 579,381 shares of company stock valued at $43,163,654 in the last 90 days. Insiders own 0.59% of the company’s stock.

Best Buy 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.