PensionDanmark Pensionsforsikringsaktieselskab Has $439,000 Position in Best Buy Co., Inc. $BBY

PensionDanmark Pensionsforsikringsaktieselskab lowered its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 71.9% in the second quarter, HoldingsChannel reports. The fund owned 5,780 shares of the technology retailer’s stock after selling 14,760 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Best Buy were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Torren Management LLC acquired a new stake in Best Buy in the 4th quarter valued at $25,000. MV Capital Management Inc. acquired a new position in shares of Best Buy during the 4th quarter worth about $25,000. Palisade Asset Management LLC bought a new position in shares of Best Buy in the 3rd quarter valued at about $25,000. Hillsdale Investment Management Inc. bought a new position in shares of Best Buy in the 4th quarter valued at about $29,000. Finally, Quest 10 Wealth Builders Inc. increased its position in shares of Best Buy by 239.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock valued at $30,000 after acquiring an additional 311 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

NYSE BBY opened at $82.47 on Tuesday. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $91.26. The firm’s fifty day moving average price is $80.08 and its two-hundred day moving average price is $69.51. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. The stock has a market cap of $17.38 billion, a PE ratio of 15.27, a PEG ratio of 2.36 and a beta of 1.29.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. The firm had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, equities analysts expect that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Thursday, June 18th. Best Buy’s dividend payout ratio is presently 71.11%.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the sale, the chief accounting officer owned 21,630 shares in the company, valued at approximately $1,596,294. The trade was a 7.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Richard M. Schulze sold 224,705 shares of the stock in a transaction dated 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 completion of the sale, the chairman directly owned 10,430,936 shares of the company’s stock, valued at approximately $814,656,101.60. The trade was a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,002,134 shares of company stock valued at $77,283,527 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BBY has been the topic of a number of analyst reports. Wells Fargo & Company upped their price objective on Best Buy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. boosted their price objective on Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Piper Sandler restated a “neutral” rating and issued a $77.00 price target on shares of Best Buy in a research note on Thursday, May 28th. Guggenheim reaffirmed a “buy” rating and set a $90.00 target price on shares of Best Buy in a report on Friday, May 29th. Finally, Jefferies Financial Group downgraded shares of Best Buy from a “buy” rating to a “hold” rating and dropped their price target for the company from $89.00 to $85.00 in a research report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.55.

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.