Swedbank AB Grows Holdings in Best Buy Co., Inc. $BBY

Swedbank AB lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 365,080 shares of the technology retailer’s stock after acquiring an additional 20,036 shares during the quarter. Swedbank AB’s holdings in Best Buy were worth $27,607,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Oliver Lagore Vanvalin Investment Group purchased a new position in Best Buy during the second quarter worth approximately $26,000. CYBER HORNET ETFs LLC acquired a new position in shares of Best Buy during the 2nd quarter worth approximately $33,000. MUFG Securities EMEA plc purchased a new position in shares of Best Buy during the 2nd quarter valued at approximately $38,000. Maseco LLP purchased a new position in shares of Best Buy during the 2nd quarter valued at approximately $39,000. Finally, Bogart Wealth LLC grew its stake in Best Buy by 202.0% in the 2nd quarter. Bogart Wealth LLC now owns 604 shares of the technology retailer’s stock valued at $41,000 after acquiring an additional 404 shares during the period. Hedge funds and other 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 500,000 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $80.83, for a total value of $40,415,000.00. Following the completion of the sale, the chairman owned 12,486,904 shares of the company’s stock, valued at approximately $1,009,316,450.32. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 1,534,993 shares of company stock worth $126,626,855. Insiders own 0.47% of the company’s stock.

Best Buy Trading Up 0.2%

BBY opened at $69.74 on Friday. The firm has a market capitalization of $14.61 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 1.77 and a beta of 1.37. The company’s 50 day simple moving average is $76.91 and its two-hundred day simple moving average is $73.69. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $91.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The business had revenue of $9.67 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the business earned $1.26 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Tuesday, December 16th. Best Buy’s payout ratio is currently 125.83%.

Analysts Set New Price Targets

A number of research firms have weighed in on BBY. Evercore ISI reduced their price objective on shares of Best Buy from $85.00 to $80.00 and set an “in-line” rating for the company in a research report on Tuesday, December 9th. The Goldman Sachs Group reduced their price target on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. JPMorgan Chase & Co. raised their price target on shares of Best Buy from $97.00 to $99.00 in a research note on Tuesday, November 25th. Telsey Advisory Group boosted their price objective on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 26th. Finally, Jefferies Financial Group reduced their target price on Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.11.

Best Buy 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.