10,878 Shares in Best Buy Co., Inc. $BBY Acquired by Redwood Investment Management LLC

Redwood Investment Management LLC purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the second quarter, Holdings Channel.com reports. The fund purchased 10,878 shares of the technology retailer’s stock, valued at approximately $825,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BBY. Woodline Partners LP raised its holdings 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 valued at $1,210,000 after buying an additional 4,701 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Best Buy by 4.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer’s stock worth $1,984,000 after buying an additional 1,234 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in Best Buy by 127.7% during the 2nd quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer’s stock worth $872,000 after acquiring an additional 7,288 shares during the last quarter. Ieq Capital LLC grew its holdings in Best Buy by 155.4% during 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. increased its position in Best Buy by 32.0% in the 2nd quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer’s stock valued at $21,051,000 after acquiring an additional 76,102 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Price Performance

Shares of BBY stock opened at $83.77 on Friday. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $91.26. The stock has a market cap of $17.66 billion, a PE ratio of 15.51, a PEG ratio of 2.50 and a beta of 1.29. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. The firm’s 50 day moving average price is $83.01 and its two-hundred day moving average price is $71.26.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.08. The firm had revenue of $9.78 billion during the quarter, compared to analyst estimates of $9.59 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, analysts forecast that Best Buy Co., Inc. will post 6.6 EPS for the current year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 17th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.6%. Best Buy’s payout ratio is 71.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Best Buy from $77.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. Truist Financial set a $100.00 price objective on shares of Best Buy in a research report on Thursday. The Goldman Sachs Group increased their price objective on Best Buy from $59.00 to $62.00 and gave the company a “sell” rating in a research report on Friday, May 29th. Jefferies Financial Group cut Best Buy from a “buy” rating to a “hold” rating and lowered their target price for the company from $89.00 to $85.00 in a research note on Wednesday, August 5th. Finally, Telsey Advisory Group boosted their target price on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $83.35.

More Best Buy News

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

• Positive Sentiment: Quarterly results exceeded expectations: Adjusted EPS was $1.47 versus the $1.39 consensus estimate, while revenue rose 3.6% year over year to $9.78 billion, ahead of the $9.59 billion forecast. Best Buy Reports Second Quarter Results
• Positive Sentiment: Comparable sales showed momentum: Enterprise comparable sales increased 4.1%, above guidance, led by a 4.5% gain in the domestic business. Strength in computing and demand for AI-related products, including AI glasses, supported the improvement. Best Buy tops quarterly estimates, raises outlook as computing shows strength
• Positive Sentiment: Best Buy raised its fiscal 2027 outlook: Adjusted EPS guidance increased to $6.70-$6.90 from $6.30-$6.60, and revenue guidance was lifted to $42.3-$42.8 billion, above the roughly $42.1 billion analyst consensus. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Omnichannel initiatives could support longer-term growth: The retailer is rolling out its “Ask Blue” conversational AI assistant, expanding smaller-format stores and broadening online and in-store customer engagement. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Neutral Sentiment: Management cited resilient technology-upgrade and replacement demand despite cautious consumer spending. The company is also preparing for incoming CEO Jason Bonfig, creating a potential transition factor for investors. Best Buy Raises Outlook as Sales Grow
• Negative Sentiment: Shares fell despite the earnings beat: The market reaction suggests investors may have expected an even stronger outlook or were locking in gains following BBY’s substantial run toward its 52-week high. Concerns about cautious consumers and the sustainability of discretionary electronics demand remain overhangs. Why Best Buy Stock Fell Despite Strong Q2 Earnings Beat

Insider Buying and Selling

In related news, Chairman Richard M. Schulze sold 224,705 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $78.10, for a total value of $17,549,460.50. Following the completion of the sale, the chairman owned 10,430,936 shares in the company, valued at approximately $814,656,101.60. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 500,000 shares of company stock valued at $39,065,226 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

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.