43,731 Shares in Best Buy Co., Inc. $BBY Purchased by BNP Paribas

BNP Paribas bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 43,731 shares of the technology retailer’s stock, valued at approximately $2,928,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Woodline Partners LP raised its position in shares of Best Buy by 40.1% in the 1st 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 in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Best Buy by 4.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer’s stock valued at $1,984,000 after purchasing an additional 1,234 shares during the last quarter. Investment Management Corp of Ontario raised its holdings in shares of Best Buy by 127.7% in the second quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer’s stock worth $872,000 after buying an additional 7,288 shares during the last quarter. Ieq Capital LLC raised its stake in Best Buy by 155.4% in the 2nd quarter. Ieq Capital LLC now owns 160,568 shares of the technology retailer’s stock worth $10,779,000 after acquiring an additional 97,688 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Best Buy by 32.0% during the second quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer’s stock worth $21,051,000 after purchasing an additional 76,102 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Matthew M. Bilunas sold 11,356 shares of the company’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 $727,011.12. Following the completion of the sale, the chief financial officer directly owned 76,884 shares in the company, valued at $4,922,113.68. This represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathleen Scarlett sold 8,049 shares of the 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 $515,296.98. Following the completion of the sale, the executive vice president directly owned 102,669 shares of the company’s stock, valued at approximately $6,572,869.38. This represents a 7.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 579,381 shares of company stock worth $43,163,654 in the last 90 days. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BBY. Jefferies Financial Group upped their price objective on shares of Best Buy from $83.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, May 28th. UBS Group reaffirmed a “neutral” rating and issued a $86.00 price target (up from $85.00) on shares of Best Buy in a report on Friday. Loop Capital increased their price target on Best Buy from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Telsey Advisory Group set a $90.00 price objective on Best Buy and gave the company an “outperform” rating in a report on Friday. Finally, Morgan Stanley raised their target price on Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.05.

Key Stories Impacting Best Buy

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

• Positive Sentiment: Daiwa Securities raised its price target on Best Buy to $77 from $68, keeping a neutral rating. The higher target suggests improved expectations for the shares and supports the recent move higher in the stock. MarketScreener
• Positive Sentiment: Best Buy’s latest earnings results were stronger than expected, with revenue and EPS beating estimates and management maintaining its fiscal 2027 outlook. That kind of execution can help support investor confidence in the stock. Yahoo Finance
• Positive Sentiment: Commentary around Best Buy’s marketplace growth, Best Buy Ads, new product launches, and an AI-laptop boost has added to optimism that the retailer can keep improving growth trends. MSN
• Neutral Sentiment: Jim Cramer highlighted Best Buy as a stock some investors may be overlooking, and other coverage noted the company’s strong year-to-date performance and attractive dividend yield. These items may help sentiment, but they are not direct catalysts. Yahoo Finance
• Negative Sentiment: Best Buy Chairman Richard M. Schulze sold 500,350 shares worth about $38.1 million, and CAO Mathew Watson also sold shares. Insider selling can sometimes weigh on investor sentiment, especially after a strong run in the stock. SEC filing
• Negative Sentiment: One market report said Best Buy stock underperformed competitors on Tuesday, which may signal that traders are rotating toward other retail names despite the company’s recent operational progress. MarketWatch

Best Buy Price Performance

Shares of NYSE BBY opened at $72.93 on Wednesday. The firm has a market cap of $15.37 billion, a PE ratio of 13.50, a PEG ratio of 2.00 and a beta of 1.30. The firm has a fifty day moving average of $62.51 and a 200 day moving average of $66.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $84.99.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The firm had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same period last year, the company posted $1.15 EPS. Best Buy’s quarterly revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, research analysts predict that Best Buy Co., Inc. will post 6.54 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.3%. Best Buy’s dividend payout ratio is presently 71.11%.

About Best Buy

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.