Best Buy Co., Inc. $BBY Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in Best Buy Co., Inc. (NYSE:BBY) by 0.6% during the first quarter, HoldingsChannel.com reports. The firm owned 38,844 shares of the technology retailer’s stock after selling 218 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Best Buy were worth $2,859,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Pinnacle Bancorp Inc. raised its stake in shares of Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 178 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in Best Buy during the fourth quarter worth about $31,000. Ancora Advisors LLC raised its stake in Best Buy by 18,700.0% during the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock worth $32,000 after acquiring an additional 374 shares during the period. Grove Bank & Trust raised its stake in Best Buy by 67.1% during the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock worth $32,000 after acquiring an additional 173 shares during the period. Finally, LRI Investments LLC raised its stake in Best Buy by 36.3% during the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer’s stock worth $45,000 after acquiring an additional 141 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of NYSE:BBY opened at $73.75 on Wednesday. The firm’s 50 day moving average is $69.45 and its two-hundred day moving average is $71.64. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.71. The firm has a market capitalization of $15.59 billion, a P/E ratio of 18.03, a PEG ratio of 1.97 and a beta of 1.21. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.06. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.77 billion. Best Buy had a net margin of 2.13% and a return on equity of 46.40%. The business’s revenue was down .9% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th were issued a $0.95 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $3.80 annualized dividend and a dividend yield of 5.2%. Best Buy’s dividend payout ratio (DPR) is 92.91%.

Analyst Ratings Changes

Several research firms recently weighed in on BBY. Telsey Advisory Group reiterated an “outperform” rating and set a $90.00 price objective on shares of Best Buy in a research note on Friday, August 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Best Buy from $95.00 to $88.00 and set an “overweight” rating on the stock in a research note on Friday, August 22nd. Wells Fargo & Company dropped their price objective on shares of Best Buy from $75.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Friday, May 30th. Guggenheim reiterated a “buy” rating and set a $90.00 price objective on shares of Best Buy in a research note on Tuesday, June 10th. Finally, Loop Capital dropped their price target on shares of Best Buy from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $84.50.

Insider Activity

In other news, Chairman Richard M. Schulze sold 729,201 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $72.95, for a total value of $53,195,212.95. Following the completion of the transaction, the chairman directly owned 196,100 shares in the company, valued at $14,305,495. This trade represents a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.59% of the stock is owned by company insiders.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.