Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 35,450 Shares of Best Buy Co., Inc. $BBY

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 74.6% during the first quarter, Holdings Channel reports. The institutional investor owned 82,972 shares of the technology retailer’s stock after acquiring an additional 35,450 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Best Buy were worth $5,327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BBY. Elevation Point Wealth Partners LLC bought a new stake in shares of Best Buy in the 1st quarter worth approximately $2,851,000. Sound Income Strategies LLC increased its stake in Best Buy by 694.8% during the 1st quarter. Sound Income Strategies LLC now owns 1,820 shares of the technology retailer’s stock valued at $117,000 after purchasing an additional 1,591 shares in the last quarter. Root Financial Partners LLC grew its holdings in shares of Best Buy by 438.1% during the first quarter. Root Financial Partners LLC now owns 2,895 shares of the technology retailer’s stock valued at $186,000 after buying an additional 2,357 shares during the last quarter. Essex Financial Services Inc. increased its position in shares of Best Buy by 205.9% during the first quarter. Essex Financial Services Inc. now owns 9,973 shares of the technology retailer’s stock valued at $640,000 after acquiring an additional 6,713 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its holdings in Best Buy by 13.7% in the 1st quarter. IFM Investors Pty Ltd now owns 66,157 shares of the technology retailer’s stock worth $4,247,000 after acquiring an additional 7,982 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the completion of the sale, the chief accounting officer owned 21,630 shares in the company, valued at $1,596,294. This represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 224,705 shares of Best Buy stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $78.10, for a total value of $17,549,460.50. Following the transaction, the chairman directly owned 10,430,936 shares in the company, valued at approximately $814,656,101.60. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,002,134 shares of company stock valued at $77,283,527. Company insiders own 0.50% of the company’s stock.

Best Buy Stock Performance

BBY opened at $77.81 on Monday. The company’s 50 day moving average is $68.18 and its 200 day moving average is $66.77. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The company has a market cap of $16.40 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 2.08 and a beta of 1.30. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $84.99.

Best Buy (NYSE:BBY) last announced its 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 net margin of 2.73% and a return on equity of 48.70%. The business had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same period in the prior year, the company earned $1.15 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, equities research analysts predict that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, June 18th. Best Buy’s payout ratio is currently 71.11%.

Analysts Set New Price Targets

BBY has been the subject of a number of research analyst reports. BNP Paribas Exane lifted their target price on Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Evercore lifted their price objective on Best Buy from $65.00 to $85.00 in a report on Friday, May 29th. Piper Sandler reissued a “neutral” rating and issued a $77.00 target price on shares of Best Buy in a research report on Thursday, May 28th. Weiss Ratings raised shares of Best Buy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Finally, UBS Group reiterated a “neutral” rating and issued a $86.00 price target (up from $85.00) on shares of Best Buy in a research note on Friday, May 29th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $79.50.

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.