Best Buy Co., Inc. $BBY Shares Sold by Candriam S.C.A.

Candriam S.C.A. cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 31.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,217 shares of the technology retailer’s stock after selling 7,123 shares during the quarter. Candriam S.C.A.’s holdings in Best Buy were worth $1,120,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. MML Investors Services LLC raised its stake in Best Buy by 2.7% in the fourth quarter. MML Investors Services LLC now owns 15,169 shares of the technology retailer’s stock valued at $1,301,000 after buying an additional 400 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in Best Buy by 130.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 921 shares of the technology retailer’s stock valued at $79,000 after purchasing an additional 522 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Best Buy by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 278,042 shares of the technology retailer’s stock worth $23,857,000 after purchasing an additional 1,316 shares in the last quarter. Syon Capital LLC purchased a new stake in shares of Best Buy during the 4th quarter worth approximately $279,000. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Best Buy by 45.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 138,600 shares of the technology retailer’s stock valued at $11,892,000 after buying an additional 43,600 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

BBY has been the subject of a number of research reports. Wedbush reduced their price target on shares of Best Buy from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Wells Fargo & Company reduced their price target on shares of Best Buy from $75.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, May 30th. BNP Paribas upgraded shares of Best Buy to a “hold” rating in a research report on Friday, May 30th. Barclays lowered their price objective on shares of Best Buy from $89.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, May 30th. Finally, UBS Group lowered their price objective on shares of Best Buy from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Best Buy presently has an average rating of “Hold” and a consensus target price of $84.50.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 729,201 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the transaction, the chairman owned 196,100 shares of the company’s stock, valued at $14,305,495. This represents a 78.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by company insiders.

Best Buy Stock Performance

NYSE:BBY opened at $75.3860 on Friday. The firm’s fifty day moving average price is $69.30 and its 200 day moving average price is $71.80. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.32. The firm has a market cap of $15.93 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.99 and a beta of 1.21.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.06. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.77 billion. Best Buy had a net margin of 2.13% and a return on equity of 46.40%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Wednesday, June 18th. Best Buy’s dividend payout ratio (DPR) is currently 92.91%.

Best Buy Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.