Redwood Investment Management LLC Invests $825,000 in Best Buy Co., Inc. $BBY

Redwood Investment Management LLC acquired a new stake in Best Buy Co., Inc. (NYSE:BBY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,878 shares of the technology retailer’s stock, valued at approximately $825,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. PFA Pension Forsikringsaktieselskab bought a new position in Best Buy during the fourth quarter valued at about $1,741,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Best Buy by 42.9% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 225,000 shares of the technology retailer’s stock worth $15,059,000 after acquiring an additional 67,600 shares during the period. Oxbow Advisors LLC bought a new stake in shares of Best Buy in the 4th quarter worth approximately $6,295,000. Crossmark Global Holdings Inc. grew its holdings in shares of Best Buy by 199.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 36,342 shares of the technology retailer’s stock worth $2,432,000 after purchasing an additional 24,219 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Best Buy by 8.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478,965 shares of the technology retailer’s stock worth $33,180,000 after purchasing an additional 38,739 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of BBY stock opened at $83.77 on Friday. The stock’s fifty day simple moving average is $83.01 and its 200 day simple moving average is $71.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40. The firm has a market cap of $17.66 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 2.50 and a beta of 1.29. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $91.26.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The firm had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $9.59 billion. During the same period in the prior year, the business posted $1.28 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, analysts expect that Best Buy Co., Inc. will post 6.6 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $3.84 annualized dividend and a dividend yield of 4.6%. Best Buy’s dividend payout ratio is presently 71.11%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings upgraded Best Buy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Wall Street Zen downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. The Goldman Sachs Group boosted their price target on shares of Best Buy from $59.00 to $62.00 and gave the company a “sell” rating in a report on Friday, May 29th. Telsey Advisory Group increased their price objective on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Best Buy presently has an average rating of “Hold” and an average price target of $83.35.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 224,705 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the completion of the sale, the chairman owned 10,430,936 shares in the company, valued at $814,656,101.60. This trade represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 500,000 shares of company stock valued at $39,065,226. 0.50% of the stock is currently owned by corporate insiders.

Best Buy News Summary

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

• Positive Sentiment: Quarterly results exceeded expectations: Adjusted EPS was $1.47 versus the $1.39 consensus estimate, while revenue rose 3.6% year over year to $9.78 billion, ahead of the $9.59 billion forecast. Best Buy Reports Second Quarter Results
• Positive Sentiment: Comparable sales showed momentum: Enterprise comparable sales increased 4.1%, above guidance, led by a 4.5% gain in the domestic business. Strength in computing and demand for AI-related products, including AI glasses, supported the improvement. Best Buy tops quarterly estimates, raises outlook as computing shows strength
• Positive Sentiment: Best Buy raised its fiscal 2027 outlook: Adjusted EPS guidance increased to $6.70-$6.90 from $6.30-$6.60, and revenue guidance was lifted to $42.3-$42.8 billion, above the roughly $42.1 billion analyst consensus. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Omnichannel initiatives could support longer-term growth: The retailer is rolling out its “Ask Blue” conversational AI assistant, expanding smaller-format stores and broadening online and in-store customer engagement. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Neutral Sentiment: Management cited resilient technology-upgrade and replacement demand despite cautious consumer spending. The company is also preparing for incoming CEO Jason Bonfig, creating a potential transition factor for investors. Best Buy Raises Outlook as Sales Grow
• Negative Sentiment: Shares fell despite the earnings beat: The market reaction suggests investors may have expected an even stronger outlook or were locking in gains following BBY’s substantial run toward its 52-week high. Concerns about cautious consumers and the sustainability of discretionary electronics demand remain overhangs. Why Best Buy Stock Fell Despite Strong Q2 Earnings Beat

About Best Buy

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.