Corient Private Wealth LP Acquires Shares of 245,751 Best Buy Co., Inc. $BBY

Corient Private Wealth LP bought a new position in Best Buy Co., Inc. (NYSE:BBY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 245,751 shares of the technology retailer’s stock, valued at approximately $18,648,000. Corient Private Wealth LP owned 0.12% of Best Buy at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Best Buy during the 2nd quarter worth approximately $1,932,812,000. Vanguard Group Inc. lifted its holdings in shares of Best Buy by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer’s stock valued at $1,623,409,000 after purchasing an additional 307,905 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Best Buy by 30.9% in the fourth quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer’s stock valued at $613,001,000 after purchasing an additional 2,160,968 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Best Buy by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer’s stock worth $498,805,000 after buying an additional 160,713 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Best Buy by 6.1% in the fourth quarter. Invesco Ltd. now owns 4,732,080 shares of the technology retailer’s stock worth $316,718,000 after buying an additional 271,988 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

More Best Buy News

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 Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 224,705 shares of Best Buy stock in a transaction on 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 owned 10,430,936 shares in the company, valued at $814,656,101.60. This trade represents a 2.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 500,000 shares of company stock valued at $39,065,226. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BBY shares. Guggenheim increased their price objective on Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday. DA Davidson upped their target price on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday. Bank of America initiated coverage on shares of Best Buy in a report on Monday, August 3rd. They set an “underperform” rating and a $80.00 price target for the company. Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, UBS Group reiterated a “neutral” rating and issued a $90.00 target price (up from $86.00) on shares of Best Buy in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $85.40.

Best Buy Stock Down 1.5%

BBY opened at $82.34 on Friday. The firm has a market cap of $17.35 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 2.36 and a beta of 1.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.40 and a current ratio of 1.12. The business has a 50 day moving average price of $83.16 and a 200 day moving average price of $71.34. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $91.26.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, beating the consensus estimate of $1.39 by $0.08. Best Buy had a return on equity of 48.14% and a net margin of 3.01%.The company had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.59 billion. During the same quarter last year, the company posted $1.28 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Research analysts forecast that Best Buy Co., Inc. will post 6.7 EPS for the current year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 17th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, September 17th. Best Buy’s dividend payout ratio is currently 71.11%.

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.