Teachers Retirement System of The State of Kentucky Grows Stock Position in Best Buy Co., Inc. $BBY

Teachers Retirement System of The State of Kentucky increased its stake in Best Buy Co., Inc. (NYSE:BBY) by 12.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 376,216 shares of the technology retailer’s stock after acquiring an additional 41,000 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.18% of Best Buy worth $24,152,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Krane Funds Advisors LLC increased its stake in Best Buy by 3.0% in the 4th 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 during the period. Linden Thomas Advisory Services LLC boosted its stake in shares of Best Buy by 0.9% during the fourth 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 during the period. Applied Finance Capital Management LLC grew its holdings in shares of Best Buy by 3.8% in the fourth quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock worth $286,000 after purchasing an additional 157 shares during the last quarter. International Private Wealth Advisors LLC grew its holdings in shares of Best Buy by 5.2% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock worth $224,000 after purchasing an additional 165 shares during the last quarter. Finally, J. Team Financial Inc. increased its stake in shares of Best Buy by 4.2% in the fourth 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 during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Performance

Shares of BBY stock opened at $82.97 on Monday. The firm has a market capitalization of $17.49 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 2.20 and a beta of 1.30. The stock has a fifty day moving average of $70.16 and a 200 day moving average of $67.04. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $84.99. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY) last issued its quarterly earnings data 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. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the previous year, the firm earned $1.15 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, research analysts expect that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 4.6%. Best Buy’s payout ratio is currently 71.11%.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 500,350 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $76.12, for a total value of $38,086,642.00. Following the completion of the sale, the chairman directly owned 10,930,586 shares in the company, valued at $832,036,206.32. This trade represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mathew Watson sold 1,784 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $73.80, for a total transaction of $131,659.20. Following the completion of the sale, the chief accounting officer owned 21,630 shares of the company’s stock, valued at $1,596,294. This trade represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,002,134 shares of company stock valued at $77,283,527. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

BBY has been the subject of a number of recent analyst reports. Wedbush upped their price target on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Evercore raised their price target on shares of Best Buy from $65.00 to $85.00 in a report on Friday, May 29th. Morgan Stanley boosted their price objective on shares of Best Buy from $72.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price objective on shares of Best Buy in a research note on Friday, May 29th. Finally, Piper Sandler reiterated a “neutral” rating and set a $77.00 target price on shares of Best Buy in a report on Thursday, May 28th. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Best Buy presently has an average rating of “Hold” and an average target price of $79.50.

Best Buy Company 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.