Best Buy Co., Inc. $BBY Position Cut by North Dakota State Investment Board

Posted by Brian Himes on Nov 1st, 2026

North Dakota State Investment Board decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) by 68.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,826 shares of the technology retailer’s stock after selling 23,799 shares during the quarter. North Dakota State Investment Board’s holdings in Best Buy were worth $955,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Best Buy in the second quarter valued at approximately $1,932,812,000. Bank of New York Mellon Corp bought a new stake in shares of Best Buy during the second quarter valued at approximately $174,893,000. Deutsche Bank AG acquired a new position in shares of Best Buy during the second quarter worth approximately $116,003,000. KBC Group NV boosted its position in shares of Best Buy by 50.5% during the first quarter. KBC Group NV now owns 1,584,803 shares of the technology retailer’s stock worth $101,745,000 after buying an additional 531,998 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Best Buy by 113.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,449,439 shares of the technology retailer’s stock worth $93,054,000 after buying an additional 770,339 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings cut Best Buy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Piper Sandler lifted their target price on Best Buy from $77.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. Morgan Stanley boosted their price target on Best Buy from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, August 28th. Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a research note on Sunday, October 11th. Finally, DA Davidson raised Best Buy from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Best Buy has an average rating of “Hold” and an average price target of $86.15.

Read Our Latest Stock Report on BBY

Best Buy Trading Down 4.8%

Best Buy stock opened at $95.56 on Friday. The firm has a 50 day simple moving average of $90.37 and a 200-day simple moving average of $75.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.41. The stock has a market capitalization of $20.04 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 2.39 and a beta of 1.26. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $100.58.

Best Buy (NYSE:BBY – Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The business had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. During the same quarter last year, the business earned $1.28 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, equities research analysts expect that Best Buy Co., Inc. will post 6.81 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $3.84 annualized dividend and a yield of 4.0%. Best Buy’s dividend payout ratio (DPR) is currently 63.89%.

Insider Activity

In other news, EVP Kathleen Scarlett sold 116,062 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $92.15, for a total transaction of $10,695,113.30. Following the completion of the sale, the executive vice president owned 116,173 shares in the company, valued at approximately $10,705,341.95. This represents a 49.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 300,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total value of $27,753,000.00. The disclosure for this sale is available in the SEC filing. Company insiders own 0.50% of the company’s stock.

About Best Buy

(Free Report)

Best Buy Co, Inc is a specialty retailer of technology products and services headquartered in Richfield, Minnesota. The company sells consumer electronics, computing and mobile products, entertainment products, appliances, furniture, and related accessories through its retail stores, websites, and other sales channels.

Best Buy also provides technology-related services, including product installation, repair, technical support, delivery, and in-home consultation. Its services are offered through brands and operations such as Geek Squad, while the company also provides membership and protection programs designed to support customers after purchase.

The company serves customers primarily in the United States and Canada.