Best Buy Co., Inc. $BBY Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 32.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,074 shares of the technology retailer’s stock after selling 7,196 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Best Buy were worth $1,144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Best Buy in the 4th quarter valued at about $1,741,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Best Buy by 42.9% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 225,000 shares of the technology retailer’s stock worth $15,059,000 after acquiring an additional 67,600 shares in the last quarter. Oxbow Advisors LLC purchased a new stake in shares of Best Buy in the 4th quarter valued at about $6,295,000. Crossmark Global Holdings Inc. grew its stake in Best Buy by 199.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 36,342 shares of the technology retailer’s stock worth $2,432,000 after buying an additional 24,219 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Best Buy by 8.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478,965 shares of the technology retailer’s stock valued at $33,180,000 after buying an additional 38,739 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Trading Down 1.5%

Shares of BBY stock opened at $82.34 on Friday. The business’s fifty day moving average price is $83.16 and its 200 day moving average price is $71.34. The firm has a market capitalization of $17.35 billion, a PE ratio of 13.70, a P/E/G ratio of 2.33 and a beta of 1.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.40. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $91.26.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, topping the consensus estimate of $1.39 by $0.08. The company had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, sell-side analysts forecast that Best Buy Co., Inc. will post 6.79 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $3.84 dividend on an annualized basis and a yield of 4.7%. Best Buy’s dividend payout ratio (DPR) is 71.11%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays raised their target price on shares of Best Buy from $77.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings upgraded Best Buy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. Guggenheim upped their price objective on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday. Loop Capital cut Best Buy from a “buy” rating to a “hold” rating and set a $82.00 price objective for the company. in a research report on Monday, July 13th. Finally, Wells Fargo & Company lifted their target price on Best Buy from $65.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Seven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Best Buy presently has a consensus rating of “Hold” and an average price target of $85.40.

Trending Headlines about Best Buy

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

• Positive Sentiment: Quarterly results exceeded expectations. Best Buy reported Q2 FY27 revenue of $9.78 billion, up 3.6% year over year and above the $9.59 billion consensus estimate. Adjusted earnings of $1.47 per share also topped the $1.39 consensus, while comparable sales rose 4.1%. Best Buy Reports Second Quarter Results
• Positive Sentiment: Best Buy raised its full-year outlook. The company now expects adjusted fiscal 2027 earnings of $6.70 to $6.90 per share, up from $6.30 to $6.60 previously, and revenue of $42.3 billion to $42.8 billion. The improved forecast reflects strength in computing and steady demand for technology upgrades and replacements. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Analyst sentiment improved. Guggenheim and DA Davidson each raised their BBY price target from $90 to $95 and assigned a “buy” rating, implying roughly 15% upside from the referenced price.
• Positive Sentiment: Shareholder returns remain attractive. Best Buy declared a quarterly dividend of $0.96 per share, equivalent to an annualized yield of approximately 4.7% at the referenced price.
• Neutral Sentiment: Growth initiatives could support the longer-term retail recovery. Best Buy is expanding its omnichannel strategy, including the Ask Blue conversational AI assistant and smaller-format stores, while digital-led sales growth was highlighted during the earnings call. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Negative Sentiment: The negative market reaction likely reflects high expectations and lingering risks. Although results beat estimates, the outlook increase was relatively modest versus consensus, international revenue declined, and investors remain cautious about discretionary spending. Analysts are also described as conflicted on BBY, suggesting uncertainty about how durable the recovery will be. Analysts Conflicted on These Consumer Cyclical Names

Insider Activity

In other news, Chairman Richard M. Schulze sold 224,705 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the sale, the chairman owned 10,430,936 shares of the company’s stock, valued at $814,656,101.60. The trade was a 2.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 500,000 shares of company stock worth $39,065,226. 0.50% of the stock is currently owned by company insiders.

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.