Best Buy Co., Inc. $BBY Stake Lowered by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its stake in Best Buy Co., Inc. (NYSE:BBY) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,012,576 shares of the technology retailer’s stock after selling 19,148 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Best Buy were worth $65,007,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BBY. Krane Funds Advisors LLC boosted its position in Best Buy by 3.0% during the fourth quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock valued at $346,000 after purchasing an additional 151 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in Best Buy by 0.9% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock worth $1,114,000 after purchasing an additional 152 shares during the last quarter. Applied Finance Capital Management LLC raised its stake in shares of Best Buy by 3.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock worth $286,000 after purchasing an additional 157 shares in the last quarter. International Private Wealth Advisors LLC grew its stake in shares of Best Buy by 5.2% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock valued at $224,000 after buying an additional 165 shares in the last quarter. Finally, J. Team Financial Inc. grew its stake in shares of Best Buy by 4.2% in the 4th quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer’s stock valued at $285,000 after buying an additional 171 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Telsey Advisory Group set a $90.00 price objective on shares of Best Buy and gave the company an “outperform” rating in a research report on Friday, May 29th. Wall Street Zen downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Loop Capital downgraded shares of Best Buy from a “buy” rating to a “hold” rating and set a $82.00 target price for the company. in a research report on Monday, July 13th. The Goldman Sachs Group increased their price target on shares of Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a research note on Friday, May 29th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research note on Monday, June 22nd. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $79.50.

Best Buy Trading Up 1.0%

Best Buy stock opened at $85.26 on Friday. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $87.35. 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 firm has a market capitalization of $17.97 billion, a PE ratio of 15.79, a PEG ratio of 2.27 and a beta of 1.30. The business’s 50-day simple moving average is $75.59 and its 200-day simple moving average is $68.19.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share 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 firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. 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 forecast that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Thursday, June 18th. Best Buy’s dividend payout ratio is currently 71.11%.

Insider Buying and Selling at Best Buy

In related news, CAO Mathew Watson sold 1,784 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $73.80, for a total transaction of $131,659.20. Following the transaction, the chief accounting officer owned 21,630 shares of the company’s stock, valued at approximately $1,596,294. The trade was a 7.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 224,705 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the transaction, the chairman directly owned 10,430,936 shares in the company, valued at $814,656,101.60. This trade represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,002,134 shares of company stock worth $77,283,527. 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.