Best Buy Co., Inc. $BBY Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB cut its position in shares of Best Buy Co., Inc. (NYSE:BBYFree Report) by 0.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 590,212 shares of the technology retailer’s stock after selling 346 shares during the period. Nordea Investment Management AB’s holdings in Best Buy were worth $39,768,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BBY. Wealth Enhancement Advisory Services LLC raised its holdings in Best Buy by 6.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 184,352 shares of the technology retailer’s stock worth $13,570,000 after purchasing an additional 11,546 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Best Buy by 25.0% during the first quarter. Exchange Traded Concepts LLC now owns 4,370 shares of the technology retailer’s stock worth $322,000 after purchasing an additional 873 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Best Buy by 3.2% during the first quarter. Janney Montgomery Scott LLC now owns 17,211 shares of the technology retailer’s stock worth $1,267,000 after purchasing an additional 541 shares during the last quarter. Sowell Financial Services LLC acquired a new position in Best Buy during the first quarter worth $385,000. Finally, State of Alaska Department of Revenue raised its holdings in Best Buy by 110.0% during the first quarter. State of Alaska Department of Revenue now owns 46,785 shares of the technology retailer’s stock worth $3,443,000 after purchasing an additional 24,505 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Mathew Watson sold 2,018 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the completion of the sale, the chief accounting officer owned 20,132 shares of the company’s stock, valued at $1,545,332.32. This represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 196,100 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. Insiders have sold 201,833 shares of company stock valued at $14,941,472 over the last 90 days. 0.47% of the stock is currently owned by insiders.

Best Buy Stock Performance

Best Buy stock opened at $79.71 on Friday. The firm has a market capitalization of $16.75 billion, a P/E ratio of 22.02, a PEG ratio of 2.10 and a beta of 1.23. The stock has a fifty day moving average price of $74.78 and a 200 day moving average price of $70.23. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $96.77. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43.

Best Buy (NYSE:BBYGet Free Report) last announced its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were paid a dividend of $0.95 per share. The ex-dividend date was Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 4.8%. Best Buy’s dividend payout ratio is currently 104.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $90.00 price target on shares of Best Buy in a report on Friday, August 29th. JPMorgan Chase & Co. boosted their price target on Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Jefferies Financial Group boosted their price target on Best Buy from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Piper Sandler reissued a “neutral” rating and issued a $75.00 price target (down from $82.00) on shares of Best Buy in a report on Monday, July 14th. Finally, Evercore ISI boosted their price target on Best Buy from $75.00 to $77.00 and gave the stock an “in-line” rating in a report on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and an average target price of $81.69.

Check Out Our Latest Stock Report on Best Buy

Best Buy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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