Hsbc Holdings PLC Invests $79.63 Million in Best Buy Co., Inc. $BBY

Posted by Stanley Muller on Aug 27th, 2026

Hsbc Holdings PLC bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 1,050,151 shares of the technology retailer’s stock, valued at approximately $79,627,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ancora Advisors LLC purchased a new position in Best Buy during the second quarter worth $326,000. PDT Partners LLC purchased a new stake in shares of Best Buy in the second quarter valued at $11,494,000. Canada Pension Plan Investment Board bought a new stake in shares of Best Buy in the 2nd quarter worth about $2,734,000. Legal & General Group Plc bought a new stake in shares of Best Buy in the 2nd quarter worth about $83,427,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Best Buy during the 2nd quarter worth about $14,585,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of BBY stock opened at $87.40 on Thursday. The firm has a market cap of $18.42 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 2.44 and a beta of 1.29. The company’s 50 day moving average is $82.84 and its 200 day moving average is $71.17. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $91.26.

Best Buy (NYSE:BBY – Get Free Report) last posted its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. The company had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.Best Buy’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share. On average, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BBY shares. KeyCorp reiterated a “sector weight” rating on shares of Best Buy in a report on Monday, June 22nd. Truist Financial raised shares of Best Buy from a “hold” rating to a “buy” rating and raised their price objective for the stock from $81.00 to $95.00 in a research note on Tuesday, August 11th. Daiwa Securities Group upped their target price on Best Buy from $68.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, June 2nd. DA Davidson reiterated a “buy” rating and issued a $90.00 price target on shares of Best Buy in a report on Monday, June 22nd. Finally, JPMorgan Chase & Co. raised their price target on Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.10.

Check Out Our Latest Stock Report on Best Buy

Insiders Place Their Bets

In other news, Chairman Richard M. Schulze sold 500,350 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $76.12, for a total value of $38,086,642.00. Following the completion of the transaction, the chairman directly owned 10,930,586 shares of the company’s stock, valued at approximately $832,036,206.32. The trade was a 4.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mathew Watson sold 1,784 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the sale, the chief accounting officer owned 21,630 shares of the company’s stock, valued at $1,596,294. This trade represents a 7.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,002,134 shares of company stock worth $77,283,527 over the last quarter. Company insiders own 0.50% of the company’s stock.

Best Buy Profile

(Free Report)

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.