Best Buy Co., Inc. $BBY Shares Purchased by KBC Group NV

KBC Group NV raised its position in Best Buy Co., Inc. (NYSE:BBY) by 14.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,689 shares of the technology retailer’s stock after purchasing an additional 20,058 shares during the quarter. KBC Group NV’s holdings in Best Buy were worth $10,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its holdings in Best Buy by 6.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock worth $512,986,000 after buying an additional 408,605 shares in the last quarter. Invesco Ltd. raised its stake in Best Buy by 6.4% during the 1st quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer’s stock valued at $289,051,000 after acquiring an additional 234,669 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Best Buy by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer’s stock worth $240,173,000 after acquiring an additional 105,710 shares during the period. AQR Capital Management LLC grew its stake in shares of Best Buy by 36.5% in the first quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock worth $181,357,000 after purchasing an additional 671,408 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Best Buy by 3.3% during the first quarter. Federated Hermes Inc. now owns 1,665,228 shares of the technology retailer’s stock valued at $122,577,000 after purchasing an additional 52,550 shares during the period. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 74,553 shares of the stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $84.31, for a total value of $6,285,563.43. Following the completion of the transaction, the chairman owned 11,451,911 shares in the company, valued at $965,510,616.41. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chief accounting officer owned 20,132 shares in the company, valued at approximately $1,545,332.32. The trade was a 9.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,736,826 shares of company stock valued at $141,568,327. 0.47% of the stock is currently owned by company insiders.

Best Buy Stock Down 0.7%

BBY stock opened at $75.67 on Friday. The firm has a market cap of $15.90 billion, a PE ratio of 20.90, a P/E/G ratio of 2.21 and a beta of 1.25. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $95.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. The firm has a 50 day simple moving average of $77.66 and a 200 day simple moving average of $72.81.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same quarter in the previous year, the business posted $1.34 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Equities research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share 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 given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.0%. Best Buy’s payout ratio is 104.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Jefferies Financial Group upped their price target on shares of Best Buy from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Argus reiterated a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Guggenheim reissued a “buy” rating and set a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $90.00 target price on shares of Best Buy in a research report on Friday, August 29th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.88.

Best Buy 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.