Intech Investment Management LLC Cuts Holdings in Best Buy Co., Inc. $BBY

Intech Investment Management LLC decreased its position in Best Buy Co., Inc. (NYSE:BBYFree Report) by 87.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,439 shares of the technology retailer’s stock after selling 139,948 shares during the period. Intech Investment Management LLC’s holdings in Best Buy were worth $1,301,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP purchased a new position in Best Buy in the fourth quarter valued at $383,000. Huntington National Bank grew its position in shares of Best Buy by 24.1% in the fourth quarter. Huntington National Bank now owns 1,611 shares of the technology retailer’s stock valued at $108,000 after purchasing an additional 313 shares during the period. Optimist Retirement Group LLC grew its position in shares of Best Buy by 179.4% in the fourth quarter. Optimist Retirement Group LLC now owns 8,617 shares of the technology retailer’s stock valued at $577,000 after purchasing an additional 5,533 shares during the period. GHE LLC grew its position in shares of Best Buy by 10.7% in the fourth quarter. GHE LLC now owns 20,738 shares of the technology retailer’s stock valued at $1,388,000 after purchasing an additional 2,000 shares during the period. Finally, Arvest Bank Trust Division grew its position in shares of Best Buy by 55.6% in the fourth quarter. Arvest Bank Trust Division now owns 13,308 shares of the technology retailer’s stock valued at $891,000 after purchasing an additional 4,758 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

BBY opened at $71.56 on Friday. The firm has a market capitalization of $15.08 billion, a PE ratio of 13.25, a PEG ratio of 1.89 and a beta of 1.30. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $84.99. The firm’s 50-day moving average price is $63.28 and its 200 day moving average price is $66.72. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBYGet Free Report) last posted its quarterly 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 firm had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.82 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. Best Buy’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be given a dividend of $0.96 per share. The ex-dividend date is Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a yield of 5.4%. Best Buy’s payout ratio is presently 71.11%.

Key Headlines Impacting Best Buy

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

  • Positive Sentiment: Best Buy reported its first period of positive comparable sales growth in several years, driven by stronger demand in gaming, AI laptops, mobile phones, and other new technology products. The company also pointed to improving higher-margin businesses like Marketplace and Best Buy Ads, which could support profitability. Best Buy Sales Turn Positive As AI Tech Grows And CEO Change Nears
  • Positive Sentiment: Management’s Q1 update and earnings call were viewed favorably after the company outperformed expectations and highlighted improving demand across emerging product categories, suggesting consumers are still spending on bigger-ticket electronics despite a tougher backdrop. Best Buy’s Q1 Earnings Call: Our Top 5 Analyst Questions
  • Positive Sentiment: KeyCorp raised its FY2027, FY2028, and Q4 2027 earnings estimates for Best Buy, signaling slightly better expectations for future profitability. KeyCorp estimate updates
  • Neutral Sentiment: Richard Schulze sold 500,350 Best Buy shares, a headline that may draw attention but does not necessarily change the near-term operating outlook. Richard Schulze Sells 500,350 Shares of Best Buy (NYSE:BBY) Stock
  • Neutral Sentiment: Broader retail earnings commentary suggested consumers remain cautious overall, which provides context for BBY’s results but is not specific enough to be a direct catalyst by itself. What Do Retail Earnings Reports Tell Us About Consumer Spending Trends?

Insider Activity

In related news, EVP Jason J. Bonfig sold 6,336 shares of the business’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 $405,630.72. Following the transaction, the executive vice president directly owned 79,137 shares in the company, valued at approximately $5,066,350.74. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 500,350 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $76.12, for a total transaction of $38,086,642.00. Following the transaction, the chairman owned 10,930,586 shares in the company, valued at $832,036,206.32. The trade was a 4.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 579,381 shares of company stock valued at $43,163,654 in the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BBY shares. Daiwa Securities Group lifted their target price on shares of Best Buy from $68.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday. Wells Fargo & Company lifted their target price on shares of Best Buy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. Weiss Ratings lowered shares of Best Buy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. The Goldman Sachs Group lifted their target price on shares of Best Buy from $59.00 to $62.00 and gave the company a “sell” rating in a research report on Friday, May 29th. Finally, Citigroup lifted their target price on shares of Best Buy from $60.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Best Buy has a consensus rating of “Hold” and a consensus price target of $79.05.

Check Out Our Latest Report on Best Buy

Best Buy Company 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.

Read More

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBYFree Report).

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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