Handelsbanken Fonder AB Has $3.55 Million Stock Holdings in Best Buy Co., Inc. $BBY

Handelsbanken Fonder AB lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 59.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 53,000 shares of the technology retailer’s stock after buying an additional 19,694 shares during the quarter. Handelsbanken Fonder AB’s holdings in Best Buy were worth $3,547,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Huntington National Bank lifted its stake in shares of Best Buy by 12.0% during the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock worth $98,000 after buying an additional 139 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of Best Buy by 0.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock worth $1,114,000 after buying an additional 152 shares during the last quarter. Applied Finance Capital Management LLC lifted its stake in shares of Best Buy by 3.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock worth $286,000 after buying an additional 157 shares during the last quarter. International Private Wealth Advisors LLC lifted its stake in shares of Best Buy by 5.2% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock worth $224,000 after buying an additional 165 shares during the last quarter. Finally, J. Team Financial Inc. lifted its stake in shares of Best Buy by 4.2% during the 4th quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer’s stock worth $285,000 after buying an additional 171 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of Best Buy stock opened at $61.53 on Friday. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $84.99. The company has a quick ratio of 0.43, a current ratio of 1.11 and a debt-to-equity ratio of 0.39. The company has a 50-day simple moving average of $61.72 and a two-hundred day simple moving average of $67.28. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.52 and a beta of 1.22.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.13. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The business had revenue of $13.81 billion during the quarter, compared to analysts’ expectations of $13.96 billion. During the same quarter in the previous year, the company earned $2.58 EPS. 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. Analysts forecast that Best Buy Co., Inc. will post 6.5 EPS for the current year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th were paid a $0.96 dividend. This is a positive change from Best Buy’s previous quarterly dividend of $0.95. The ex-dividend date was Tuesday, March 24th. This represents a $3.84 annualized dividend and a yield of 6.2%. Best Buy’s dividend payout ratio is presently 76.19%.

Insider Transactions at Best Buy

In other Best Buy news, insider Todd G. Hartman sold 5,339 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew M. Bilunas sold 11,356 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $727,011.12. Following the completion of the transaction, the chief financial officer directly owned 76,884 shares in the company, valued at approximately $4,922,113.68. This represents a 12.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 77,247 shares of company stock worth $4,945,353. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BBY shares. The Goldman Sachs Group cut shares of Best Buy from a “buy” rating to a “sell” rating and set a $59.00 target price for the company. in a research note on Monday, April 13th. Wedbush raised their target price on shares of Best Buy from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Weiss Ratings cut shares of Best Buy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. HSBC cut their target price on shares of Best Buy from $96.00 to $85.00 in a research note on Thursday, February 26th. Finally, Citigroup cut their target price on shares of Best Buy from $69.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Best Buy presently has a consensus rating of “Hold” and a consensus target price of $70.80.

Best Buy News Roundup

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

• Positive Sentiment: Best Buy is being viewed as likely to post solid first-quarter results, with analysts expecting in-line comparable sales and year-over-year earnings growth, which could help support the stock if the company meets those expectations. Best Buy Poised for In-Line First-Quarter Comparable Sales, Wedbush Says
• Positive Sentiment: Recent momentum has improved, with the stock outperforming over the past week even though it remains down year to date, suggesting investors may be positioning for the upcoming report. A Look At Best Buy Valuation As Earnings Expectations And Cautious Sentiment Shape The May 28 Report
• Neutral Sentiment: New back-to-school-style promotions in Canada, such as BMO’s student tech reward tied to Best Buy Canada, may help traffic, but the announcement appears more promotional than material for near-term earnings. Is Best Buy’s Student Tech Perks Masking Deeper Supply Chain And Leadership Questions?
• Negative Sentiment: Investor caution is rising because Best Buy is dealing with product shortages and an upcoming CEO transition, both of which could cloud the earnings outlook and pressure sentiment if management gives a conservative forecast. Is Best Buy’s Student Tech Perks Masking Deeper Supply Chain And Leadership Questions?
• Negative Sentiment: Several previews note that Best Buy may not have the best setup for an earnings beat, which could limit upside if results only match expectations rather than exceed them. Best Buy (BBY) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates

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.