United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Purchases Shares of 124,180 Best Buy Co., Inc. $BBY

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Best Buy Co., Inc. (NYSE:BBY) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 124,180 shares of the technology retailer’s stock, valued at approximately $8,311,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of BBY. Torren Management LLC acquired a new stake in Best Buy in the 4th quarter valued at about $25,000. Palisade Asset Management LLC purchased a new stake in Best Buy during the third quarter valued at about $25,000. Quest 10 Wealth Builders Inc. lifted its stake in Best Buy by 239.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock valued at $30,000 after buying an additional 311 shares in the last quarter. Activest Wealth Management lifted its stake in Best Buy by 1,247.1% during the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock valued at $31,000 after buying an additional 424 shares in the last quarter. Finally, Wolff Wiese Magana LLC purchased a new stake in Best Buy during the fourth quarter valued at about $32,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Best Buy

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy beat Q1 EPS and revenue estimates, with comparable sales turning positive and margins improving. Best Buy Reports First Quarter Results
• Positive Sentiment: The company reaffirmed its outlook and issued FY2027 guidance that was close to consensus, reducing concern about a near-term slowdown. Best Buy Surges on Earnings. Its 5% Yield Looks Even Better.
• Positive Sentiment: Jefferies raised its price target on BBY to $89 and reiterated a buy rating, suggesting additional upside after the earnings rally. Best Buy price target raised by Jefferies
• Neutral Sentiment: Management highlighted demand strength in gaming and computing, partly offset by weakness in appliances, showing the recovery is uneven. Best Buy beats on top and bottom lines as retailer aims to reinvigorate sales

Insider Transactions at Best Buy

In related news, EVP Kathleen Scarlett sold 8,049 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $515,296.98. Following the transaction, the executive vice president owned 102,669 shares in the company, valued at approximately $6,572,869.38. This represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Todd G. Hartman sold 5,339 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $341,802.78. Following the completion of the transaction, the insider owned 44,098 shares in the company, valued at $2,823,153.96. This represents a 10.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 77,247 shares of company stock valued at $4,945,353 in the last ninety days. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on BBY shares. Evercore set a $65.00 price objective on shares of Best Buy in a research note on Tuesday, April 14th. DA Davidson set a $78.00 price objective on shares of Best Buy in a research note on Thursday, March 5th. Wells Fargo & Company reduced their price objective on shares of Best Buy from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 14th. Daiwa Securities Group reduced their price objective on shares of Best Buy from $80.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. Finally, Guggenheim reaffirmed a “buy” rating and set a $90.00 price objective on shares of Best Buy in a research note on Wednesday, March 4th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $70.75.

Best Buy Price Performance

Shares of BBY opened at $74.84 on Friday. The company has a market capitalization of $15.77 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 1.59 and a beta of 1.22. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $84.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43. The business’s 50-day moving average is $61.99 and its 200-day moving average is $66.80.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities research analysts expect that Best Buy Co., Inc. will post 6.5 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a $0.96 dividend. The ex-dividend date is Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a yield of 5.1%. Best Buy’s dividend payout ratio is currently 76.19%.

About Best Buy

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.