DNB Asset Management AS Has $2.31 Million Stock Holdings in Best Buy Co., Inc. $BBY

DNB Asset Management AS decreased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,456 shares of the technology retailer’s stock after selling 2,404 shares during the period. DNB Asset Management AS’s holdings in Best Buy were worth $2,313,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Best Buy by 1.8% in the second quarter. Vanguard Group Inc. now owns 23,395,055 shares of the technology retailer’s stock worth $1,570,510,000 after acquiring an additional 419,312 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Best Buy by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock valued at $512,986,000 after purchasing an additional 408,605 shares in the last quarter. Invesco Ltd. raised its position in Best Buy by 6.4% in the 1st quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer’s stock worth $289,051,000 after purchasing an additional 234,669 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Best Buy by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer’s stock worth $240,173,000 after purchasing an additional 105,710 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Best Buy by 36.5% during the 1st quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock worth $181,357,000 after buying an additional 671,408 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Richard M. Schulze sold 500,000 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $80.83, for a total value of $40,415,000.00. Following the completion of the transaction, the chairman owned 12,486,904 shares of the company’s stock, valued at $1,009,316,450.32. The trade was a 3.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the sale, the chief accounting officer owned 22,150 shares of the company’s stock, valued at approximately $1,640,650.50. This represents a 14.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,736,826 shares of company stock worth $141,568,327. Insiders own 0.47% of the company’s stock.

Best Buy Trading Up 5.3%

NYSE:BBY opened at $79.66 on Wednesday. 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 Co., Inc. has a 1-year low of $54.99 and a 1-year high of $91.72. The firm has a market capitalization of $16.74 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.21 and a beta of 1.25. The business’s 50-day moving average price is $77.56 and its two-hundred day moving average price is $73.26.

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

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be issued a $0.95 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $3.80 annualized dividend and a yield of 4.8%. Best Buy’s dividend payout ratio (DPR) is 104.97%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $90.00 target price on shares of Best Buy in a research note on Tuesday, November 18th. Evercore ISI decreased their price target on Best Buy from $85.00 to $80.00 in a report on Tuesday, November 18th. Citigroup lifted their price objective on Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Guggenheim restated a “buy” rating and set a $90.00 target price on shares of Best Buy in a research report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $83.94.

About Best Buy

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.