Andra AP fonden Has $32.91 Million Stake in Best Buy Co., Inc. $BBY

Andra AP fonden increased its position in Best Buy Co., Inc. (NYSE:BBY) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 490,300 shares of the technology retailer’s stock after buying an additional 35,383 shares during the period. Andra AP fonden owned 0.23% of Best Buy worth $32,914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. increased its position in shares of Best Buy by 3,890.0% during the first quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock worth $75,353,000 after acquiring an additional 998,021 shares in the last quarter. AQR Capital Management LLC increased its position in shares of 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 acquiring an additional 671,408 shares during the last quarter. Nuveen LLC bought a new stake in shares of Best Buy during the 1st quarter worth $39,579,000. Charles Schwab Investment Management Inc. raised its position in Best Buy by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock worth $512,986,000 after acquiring an additional 408,605 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Best Buy by 27.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,550,145 shares of the technology retailer’s stock worth $104,061,000 after purchasing an additional 335,793 shares during the period. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 74,553 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the completion of the sale, the chairman directly owned 11,451,911 shares of the company’s stock, valued at approximately $965,510,616.41. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mathew Watson sold 2,018 shares of the firm’s stock in a transaction on 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 transaction, the chief accounting officer directly owned 20,132 shares in the company, valued at approximately $1,545,332.32. This represents a 9.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,736,826 shares of company stock valued at $141,568,327 in the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

Best Buy Price Performance

BBY opened at $80.86 on Thursday. The stock has a 50-day moving average price of $77.25 and a 200-day moving average price of $72.25. The firm has a market cap of $16.99 billion, a PE ratio of 22.34, a P/E/G ratio of 2.21 and a beta of 1.23. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year 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.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $9.23 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. The business’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 predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were issued a $0.95 dividend. The ex-dividend date was Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 4.7%. Best Buy’s dividend payout ratio (DPR) is currently 104.97%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BBY shares. Jefferies Financial Group upped their price objective on shares of Best Buy from $88.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $75.00 target price (down from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, October 8th. Bank of America cut their price objective on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a research note on Friday, August 29th. Finally, Evercore ISI boosted their target price on Best Buy from $75.00 to $77.00 and gave the company an “in-line” rating in a research note on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $81.69.

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.