Andra AP fonden Sells 77,300 Shares of Best Buy Co., Inc. $BBY

Andra AP fonden cut its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 16.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 382,200 shares of the technology retailer’s stock after selling 77,300 shares during the period. Andra AP fonden’s holdings in Best Buy were worth $25,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Palisade Asset Management LLC purchased a new stake in shares of Best Buy in the 3rd quarter valued at about $25,000. Torren Management LLC purchased a new stake in shares of Best Buy in the 4th quarter valued at about $25,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Best Buy in the 4th quarter valued at about $29,000. Quest 10 Wealth Builders Inc. raised its holdings in shares of Best Buy by 239.2% in the 4th 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 in the last quarter. Finally, Activest Wealth Management raised its holdings in shares of Best Buy by 1,247.1% in the 4th quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock valued at $31,000 after acquiring an additional 424 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of NYSE BBY opened at $77.17 on Friday. The stock has a market cap of $16.26 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 2.01 and a beta of 1.30. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $84.99. The stock’s 50-day moving average is $64.23 and its 200 day moving average is $66.68.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. The company had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.Best Buy’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.56 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 dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, June 18th. Best Buy’s dividend payout ratio (DPR) is currently 71.11%.

Insider Activity at Best Buy

In related news, EVP Kathleen Scarlett sold 8,049 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $515,296.98. Following the transaction, the executive vice president directly owned 102,669 shares of the company’s stock, valued at approximately $6,572,869.38. This trade represents a 7.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Corie S. Barry sold 42,869 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $2,744,473.38. Following the transaction, the chief executive officer directly owned 523,138 shares in the company, valued at approximately $33,491,294.76. This represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 579,381 shares of company stock worth $43,163,654 in the last quarter. 0.47% of the stock is owned by company insiders.

Analyst Ratings Changes

BBY has been the topic of several recent analyst reports. Wells Fargo & Company raised their price target on Best Buy from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Weiss Ratings cut Best Buy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Wedbush raised their price target on Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, May 29th. HSBC lowered their price target on Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $77.00 price target on shares of Best Buy in a report on Thursday, May 28th. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $79.05.

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.