KLP Kapitalforvaltning AS Buys 1,300 Shares of Best Buy Co., Inc. $BBY

KLP Kapitalforvaltning AS boosted its position in Best Buy Co., Inc. (NYSE:BBY) by 1.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,914 shares of the technology retailer’s stock after buying an additional 1,300 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.06% of Best Buy worth $8,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Pacer Advisors Inc. grew its position in shares of Best Buy by 3,890.0% in the first quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock valued at $75,353,000 after purchasing an additional 998,021 shares in the last quarter. AQR Capital Management LLC boosted its stake in Best Buy by 36.5% during the first quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock valued at $181,357,000 after buying an additional 671,408 shares during the period. Nuveen LLC bought a new stake in Best Buy during the first quarter valued at $39,579,000. Charles Schwab Investment Management Inc. boosted its stake in Best Buy by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock valued at $512,986,000 after buying an additional 408,605 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Best Buy by 40.6% during the first quarter. Canada Pension Plan Investment Board now owns 874,538 shares of the technology retailer’s stock valued at $64,375,000 after buying an additional 252,544 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Best Buy

In other news, CAO Mathew Watson sold 2,018 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the completion of the sale, the chief accounting officer owned 20,132 shares of the company’s stock, valued at approximately $1,545,332.32. The trade was a 9.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 201,833 shares of company stock valued at $14,941,472. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wedbush lifted their price objective on Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. Argus reissued a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a research note on Wednesday. Citigroup reissued a “buy” rating on shares of Best Buy in a research note on Thursday, August 28th. Finally, Wells Fargo & Company increased their price objective on Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Best Buy has a consensus rating of “Hold” and a consensus price target of $81.69.

Best Buy Price Performance

Shares of Best Buy stock opened at $75.23 on Friday. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $99.80. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $73.57 and its 200-day moving average price is $70.15. The firm has a market capitalization of $15.81 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same quarter in the previous year, the company posted $1.34 EPS. Best Buy’s revenue for the quarter was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Thursday, September 18th. Best Buy’s payout ratio is 104.97%.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.