Best Buy Co., Inc. $BBY Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its stake in Best Buy Co., Inc. (NYSE:BBY) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,012,576 shares of the technology retailer’s stock after selling 19,148 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.48% of Best Buy worth $65,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Krane Funds Advisors LLC raised its holdings in Best Buy by 3.0% during the fourth quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock worth $346,000 after purchasing an additional 151 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Best Buy by 0.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock valued at $1,114,000 after purchasing an additional 152 shares in the last quarter. Applied Finance Capital Management LLC increased its position in shares of Best Buy by 3.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock valued at $286,000 after purchasing an additional 157 shares during the period. International Private Wealth Advisors LLC increased its position in shares of Best Buy by 5.2% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock valued at $224,000 after purchasing an additional 165 shares during the period. Finally, J. Team Financial Inc. raised its stake in shares of Best Buy by 4.2% in the 4th quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer’s stock worth $285,000 after buying an additional 171 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on BBY shares. Wells Fargo & Company upped their price objective on Best Buy from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Daiwa Securities Group boosted their price target on shares of Best Buy from $68.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 2nd. Citigroup upped their price target on shares of Best Buy from $60.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Piper Sandler restated a “neutral” rating and set a $77.00 price objective on shares of Best Buy in a research report on Thursday, May 28th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research note on Monday, June 22nd. Five equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $79.50.

Best Buy Trading Up 1.0%

NYSE BBY opened at $85.26 on Friday. The firm’s 50 day moving average price is $75.59 and its two-hundred day moving average price is $68.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $87.35. The stock has a market cap of $17.97 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 2.27 and a beta of 1.30.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating 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%.The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities analysts anticipate that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Thursday, June 18th. Best Buy’s dividend payout ratio is currently 71.11%.

Insider Activity

In other 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 transaction, the chairman owned 10,430,936 shares in the company, valued at $814,656,101.60. This represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 1,784 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $73.80, for a total value of $131,659.20. Following the completion of the transaction, the chief accounting officer owned 21,630 shares in the company, valued at $1,596,294. This represents a 7.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,002,134 shares of company stock valued at $77,283,527. Company 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.