United Capital Financial Advisors LLC Acquires Shares of 10,216 Best Buy Co., Inc. $BBY

United Capital Financial Advisors LLC bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,216 shares of the technology retailer’s stock, valued at approximately $775,000.

A number of other hedge funds also recently modified their holdings of BBY. BlackRock Inc. bought a new stake in Best Buy during the second quarter worth about $1,932,812,000. AQR Capital Management LLC increased its holdings in Best Buy by 99.8% in the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock valued at $525,120,000 after buying an additional 3,496,254 shares during the period. Norges Bank bought a new position in Best Buy in the 4th quarter valued at about $174,685,000. Schroder Investment Management Group raised its position in shares of Best Buy by 378.8% in the 4th quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer’s stock valued at $207,216,000 after buying an additional 2,449,342 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Best Buy during the 2nd quarter worth approximately $174,893,000. Institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research report on Friday. Evercore boosted their price objective on shares of Best Buy from $65.00 to $85.00 in a research report on Friday, May 29th. UBS Group restated a “neutral” rating and set a $90.00 target price (up from $86.00) on shares of Best Buy in a research note on Friday. Daiwa Securities Group raised their target price on Best Buy from $68.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Best Buy from $76.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Seven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $85.40.

Key Headlines Impacting Best Buy

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

• Positive Sentiment: Quarterly results exceeded expectations. Best Buy reported Q2 FY27 revenue of $9.78 billion, up 3.6% year over year and above the $9.59 billion consensus estimate. Adjusted earnings of $1.47 per share also topped the $1.39 consensus, while comparable sales rose 4.1%. Best Buy Reports Second Quarter Results
• Positive Sentiment: Best Buy raised its full-year outlook. The company now expects adjusted fiscal 2027 earnings of $6.70 to $6.90 per share, up from $6.30 to $6.60 previously, and revenue of $42.3 billion to $42.8 billion. The improved forecast reflects strength in computing and steady demand for technology upgrades and replacements. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Analyst sentiment improved. Guggenheim and DA Davidson each raised their BBY price target from $90 to $95 and assigned a “buy” rating, implying roughly 15% upside from the referenced price.
• Positive Sentiment: Shareholder returns remain attractive. Best Buy declared a quarterly dividend of $0.96 per share, equivalent to an annualized yield of approximately 4.7% at the referenced price.
• Neutral Sentiment: Growth initiatives could support the longer-term retail recovery. Best Buy is expanding its omnichannel strategy, including the Ask Blue conversational AI assistant and smaller-format stores, while digital-led sales growth was highlighted during the earnings call. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Negative Sentiment: The negative market reaction likely reflects high expectations and lingering risks. Although results beat estimates, the outlook increase was relatively modest versus consensus, international revenue declined, and investors remain cautious about discretionary spending. Analysts are also described as conflicted on BBY, suggesting uncertainty about how durable the recovery will be. Analysts Conflicted on These Consumer Cyclical Names

Best Buy Trading Down 0.1%

BBY opened at $82.34 on Monday. The company has a market cap of $17.35 billion, a P/E ratio of 13.70, a PEG ratio of 2.29 and a beta of 1.29. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $83.16 and its 200-day moving average is $71.37. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $91.26.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.08. The business had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $9.59 billion. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Equities research analysts predict that Best Buy Co., Inc. will post 6.79 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be issued a dividend of $0.96 per share. The ex-dividend date is Thursday, September 17th. This represents a $3.84 annualized dividend and a dividend yield of 4.7%. Best Buy’s dividend payout ratio is 63.89%.

Insider Activity

In other news, Chairman Richard M. Schulze sold 224,705 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $78.10, for a total value of $17,549,460.50. Following the completion of the transaction, the chairman directly owned 10,430,936 shares in the company, valued at approximately $814,656,101.60. This represents a 2.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 500,000 shares of company stock worth $39,065,226 in the last three months. 0.50% of the stock is currently owned by corporate insiders.

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.