Swedbank AB Purchases 20,036 Shares of Best Buy Co., Inc. $BBY

Swedbank AB lifted its position in Best Buy Co., Inc. (NYSE:BBY) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 365,080 shares of the technology retailer’s stock after buying an additional 20,036 shares during the period. Swedbank AB owned approximately 0.17% of Best Buy worth $27,607,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Best Buy by 106.7% in the first quarter. Wellington Management Group LLP now owns 11,744 shares of the technology retailer’s stock worth $864,000 after purchasing an additional 6,061 shares during the last quarter. Compound Planning Inc. acquired a new stake in shares of Best Buy in the 1st quarter worth $206,000. Jump Financial LLC grew its stake in Best Buy by 18.9% during the 1st quarter. Jump Financial LLC now owns 12,500 shares of the technology retailer’s stock worth $920,000 after buying an additional 1,983 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Best Buy during the 1st quarter valued at about $2,898,000. Finally, Ieq Capital LLC raised its stake in Best Buy by 32.2% in the first quarter. Ieq Capital LLC now owns 62,880 shares of the technology retailer’s stock valued at $4,629,000 after buying an additional 15,306 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 0.2%

BBY stock opened at $69.74 on Friday. The company has a market capitalization of $14.61 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 1.77 and a beta of 1.37. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $91.68. The firm’s fifty day simple moving average is $76.91 and its 200-day simple moving average is $73.69. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The company had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be paid a $0.95 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.4%. Best Buy’s dividend payout ratio is presently 125.83%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BBY shares. JPMorgan Chase & Co. boosted their price target on Best Buy from $97.00 to $99.00 in a research note on Tuesday, November 25th. Argus reissued a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Telsey Advisory Group upped their price target on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Wedbush reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Best Buy in a report on Thursday, November 20th. Finally, Evercore ISI dropped their price objective on shares of Best Buy from $85.00 to $80.00 and set an “in-line” rating on the stock in a report on Tuesday, December 9th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.11.

Insider Activity at Best Buy

In related news, Chairman Richard M. Schulze sold 74,553 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the sale, the chairman directly owned 11,451,911 shares of the company’s stock, valued at $965,510,616.41. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 1,534,993 shares of company stock valued at $126,626,855 in the last quarter. 0.47% of the stock is owned by corporate insiders.

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.