Best Buy Co., Inc. $BBY Shares Acquired by Viking Fund Management LLC

Viking Fund Management LLC lifted its position in Best Buy Co., Inc. (NYSE:BBY) by 3,000.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,000 shares of the technology retailer’s stock after purchasing an additional 150,000 shares during the period. Best Buy comprises about 1.2% of Viking Fund Management LLC’s portfolio, making the stock its 27th biggest holding. Viking Fund Management LLC owned about 0.07% of Best Buy worth $10,374,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Woodline Partners LP raised its position in shares of Best Buy by 40.1% in the first quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock worth $1,210,000 after acquiring an additional 4,701 shares during the period. Prudential PLC purchased a new position in shares of Best Buy in the 2nd quarter valued at about $500,000. Handelsbanken Fonder AB increased its stake in shares of Best Buy by 1.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 35,400 shares of the technology retailer’s stock valued at $2,376,000 after purchasing an additional 481 shares in the last quarter. Swiss National Bank raised its holdings in Best Buy by 6.1% in the 2nd quarter. Swiss National Bank now owns 607,800 shares of the technology retailer’s stock worth $40,802,000 after purchasing an additional 34,900 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Best Buy by 7.7% in the 2nd quarter. Franklin Resources Inc. now owns 951,377 shares of the technology retailer’s stock worth $63,866,000 after purchasing an additional 68,175 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Best Buy news, insider Todd G. Hartman sold 5,339 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $341,802.78. Following the transaction, the insider directly owned 44,098 shares of the company’s stock, valued at $2,823,153.96. This trade represents a 10.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Corie S. Barry sold 42,869 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $2,744,473.38. Following the transaction, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 77,247 shares of company stock valued at $4,945,353 in the last ninety days. 0.59% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on BBY shares. Loop Capital raised their price objective on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. DA Davidson set a $78.00 target price on Best Buy in a research note on Thursday, March 5th. Truist Financial decreased their target price on Best Buy from $73.00 to $66.00 and set a “hold” rating on the stock in a research report on Tuesday, March 3rd. Barclays cut their price target on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, January 8th. Finally, Piper Sandler restated a “buy” rating on shares of Best Buy in a research report on Wednesday, March 4th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $76.20.

Best Buy Price Performance

Shares of Best Buy stock opened at $61.72 on Wednesday. The stock has a market capitalization of $12.91 billion, a P/E ratio of 12.25, a PEG ratio of 1.58 and a beta of 1.46. The business has a 50 day simple moving average of $65.31 and a two-hundred day simple moving average of $71.83. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $84.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.13. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm had revenue of $13.81 billion for the quarter, compared to analyst estimates of $13.96 billion. During the same period in the previous year, the company posted $2.58 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 24th will be given a dividend of $0.96 per share. The ex-dividend date is Tuesday, March 24th. This is a boost from Best Buy’s previous quarterly dividend of $0.95. This represents a $3.84 dividend on an annualized basis and a yield of 6.2%. Best Buy’s dividend payout ratio (DPR) is presently 75.40%.

Key Stories Impacting Best Buy

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

• Negative Sentiment: CEO Corie S. Barry sold 42,869 shares at an average $64.02 (~$2.74M), reducing her ownership by 7.57%. CEO Sale SEC Filing
• Negative Sentiment: EVP Kathleen Scarlett sold 8,049 shares at $64.02 (~$515K), a 7.27% cut to her holdings. EVP Scarlett Sale SEC Filing
• Negative Sentiment: CFO Matthew M. Bilunas sold 11,356 shares at $64.02 (~$727K), a 12.87% reduction in his position. CFO Sale SEC Filing
• Negative Sentiment: EVP Jason J. Bonfig sold 6,336 shares at $64.02 (~$406K), reducing ownership by ~7.4%. EVP Bonfig Sale SEC Filing
• Negative Sentiment: CAO Mathew Watson sold 3,298 shares at $64.02 (~$211K), a 12.45% ownership cut. CAO Sale SEC Filing
• Negative Sentiment: Insider Todd G. Hartman sold 5,339 shares at $64.02 (~$342K), a 10.8% decrease in his holding. Todd Hartman Sale SEC Filing
• Negative Sentiment: Yahoo Finance published a bearish take listing “3 reasons BBY is risky” and suggesting an alternative stock, amplifying short‑term investor concern after recent soft revenue and mixed guidance. 3 Reasons BBY is Risky and 1 Stock to Buy Instead

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.