Geode Capital Management LLC Sells 8,400 Shares of Best Buy Co., Inc. $BBY

Geode Capital Management LLC lowered its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,201,566 shares of the technology retailer’s stock after selling 8,400 shares during the quarter. Geode Capital Management LLC’s holdings in Best Buy were worth $347,009,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BBY. Woodline Partners LP grew its position in Best Buy by 40.1% in the 1st quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock valued at $1,210,000 after acquiring an additional 4,701 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Best Buy by 4.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer’s stock valued at $1,984,000 after acquiring an additional 1,234 shares during the last quarter. Investment Management Corp of Ontario grew its holdings in shares of Best Buy by 127.7% in the second quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer’s stock worth $872,000 after purchasing an additional 7,288 shares during the last quarter. Ieq Capital LLC increased its stake in Best Buy by 155.4% in the 2nd quarter. Ieq Capital LLC now owns 160,568 shares of the technology retailer’s stock worth $10,779,000 after buying an additional 97,688 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Best Buy by 32.0% in the 2nd quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer’s stock worth $21,051,000 after buying an additional 76,102 shares during the period. Institutional investors own 80.96% of the company’s stock.

Insider Activity at Best Buy

In related news, EVP Kathleen Scarlett sold 8,049 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $515,296.98. Following the sale, the executive vice president owned 102,669 shares of the company’s stock, valued at $6,572,869.38. This trade represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Corie S. Barry sold 42,869 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $2,744,473.38. Following the sale, the chief executive officer directly owned 523,138 shares in the company, valued at approximately $33,491,294.76. The trade was a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 77,247 shares of company stock valued at $4,945,353 over the last 90 days. Company insiders own 0.59% of the company’s stock.

Key Headlines Impacting Best Buy

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

• Positive Sentiment: Best Buy’s latest quarter came in ahead of expectations, with revenue of $8.94 billion and EPS of $1.28, helped by stronger AI laptop demand and gaming sales. Should You Buy Best Buy Stock for Its 4.9%-Yielding Dividend?
• Positive Sentiment: Management highlighted growth in Marketplace and Best Buy Ads, plus new tech launches, while reaffirming its fiscal 2027 outlook. Best Buy Q1 Earnings Call Highlights Marketplace Growth, CEO Shift
• Positive Sentiment: Commentary around AI-powered laptops and the company’s turnaround potential has added optimism that Best Buy can benefit from better product cycles and demand trends. Best Buy’s AI Laptop Boost Sparks Hope for a BBY Turnaround
• Positive Sentiment: Jim Cramer also pointed to Best Buy as a strong performer, reinforcing a bullish investor narrative around the stock. Jim Cramer Highlights the Strong Performance of Best Buy
• Neutral Sentiment: Several articles frame Best Buy as a closely watched retail name and discuss whether the stock is undervalued, suggesting investors are still debating the durability of the rebound. Best Buy Co Inc (BBY) Stock Down 3.8% — Now Undervalued? GF Score: 72/100
• Negative Sentiment: Despite solid earnings, BBY has sold off, indicating the market may be reacting to valuation concerns, expectations for slower growth, or simple post-earnings profit-taking. Best Buy Co Inc (BBY) Stock Down 3.8% — Now Undervalued? GF Score: 72/100
• Negative Sentiment: A separate article cautioning on unpopular stocks may add a modestly bearish tone, though it does not appear to cite a new company-specific problem. 3 Unpopular Stocks We Approach with Caution

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BBY shares. Citigroup boosted their price objective on shares of Best Buy from $60.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday. UBS Group restated a “neutral” rating and issued a $86.00 target price (up from $85.00) on shares of Best Buy in a research note on Friday. BNP Paribas Exane upped their target price on shares of Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday. Daiwa Securities Group dropped their target price on shares of Best Buy from $80.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, March 5th. Finally, Weiss Ratings downgraded shares of Best Buy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Best Buy presently has an average rating of “Hold” and an average target price of $78.60.

Best Buy Stock Performance

BBY stock opened at $74.89 on Tuesday. 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 business has a 50-day moving average price of $62.51 and a 200 day moving average price of $66.78. The company has a market capitalization of $15.78 billion, a P/E ratio of 13.87, a PEG ratio of 2.09 and a beta of 1.30. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $84.99.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.05. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The firm had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the previous year, the company posted $1.15 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.5 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a yield of 5.1%. Best Buy’s dividend payout ratio (DPR) is presently 71.11%.

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.