Corient Private Wealth LP Invests $18.65 Million in Best Buy Co., Inc. $BBY

Corient Private Wealth LP bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the second quarter, Holdings Channel.com reports. The fund bought 245,751 shares of the technology retailer’s stock, valued at approximately $18,648,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Torren Management LLC bought a new position in shares of Best Buy during the 4th quarter worth about $25,000. MV Capital Management Inc. bought a new stake in shares of Best Buy in the fourth quarter valued at about $25,000. Palisade Asset Management LLC acquired a new stake in Best Buy during the third quarter worth about $25,000. Hillsdale Investment Management Inc. bought a new position in Best Buy during the fourth quarter valued at about $29,000. Finally, Activest Wealth Management increased its stake in Best Buy by 1,247.1% during the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock valued at $31,000 after acquiring an additional 424 shares during the period. 80.96% of the stock is owned by institutional investors.

Key Best Buy News

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

• Positive Sentiment: Quarterly results exceeded expectations. Best Buy reported Q2 FY27 revenue of $9.78 billion, up 3.6% year over year and above the $9.59 billion consensus estimate. Adjusted earnings of $1.47 per share also topped the $1.39 consensus, while comparable sales rose 4.1%. Best Buy Reports Second Quarter Results
• Positive Sentiment: Best Buy raised its full-year outlook. The company now expects adjusted fiscal 2027 earnings of $6.70 to $6.90 per share, up from $6.30 to $6.60 previously, and revenue of $42.3 billion to $42.8 billion. The improved forecast reflects strength in computing and steady demand for technology upgrades and replacements. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Analyst sentiment improved. Guggenheim and DA Davidson each raised their BBY price target from $90 to $95 and assigned a “buy” rating, implying roughly 15% upside from the referenced price.
• Positive Sentiment: Shareholder returns remain attractive. Best Buy declared a quarterly dividend of $0.96 per share, equivalent to an annualized yield of approximately 4.7% at the referenced price.
• Neutral Sentiment: Growth initiatives could support the longer-term retail recovery. Best Buy is expanding its omnichannel strategy, including the Ask Blue conversational AI assistant and smaller-format stores, while digital-led sales growth was highlighted during the earnings call. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Negative Sentiment: The negative market reaction likely reflects high expectations and lingering risks. Although results beat estimates, the outlook increase was relatively modest versus consensus, international revenue declined, and investors remain cautious about discretionary spending. Analysts are also described as conflicted on BBY, suggesting uncertainty about how durable the recovery will be. Analysts Conflicted on These Consumer Cyclical Names

Best Buy Stock Down 1.5%

Shares of BBY opened at $82.34 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.40 and a current ratio of 1.12. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $91.26. The firm has a market capitalization of $17.35 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 2.36 and a beta of 1.29. The business’s fifty day moving average price is $83.16 and its two-hundred day moving average price is $71.34.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.08. The business had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%.The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, analysts predict that Best Buy Co., Inc. will post 6.7 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, September 17th. Best Buy’s dividend payout ratio (DPR) is 71.11%.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 224,705 shares of Best Buy stock in a transaction that occurred on 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. The trade was a 2.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 500,000 shares of company stock worth $39,065,226. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BBY shares. Telsey Advisory Group upped their price target on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Weiss Ratings upgraded Best Buy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. Wedbush restated a “buy” rating on shares of Best Buy in a research note on Monday. Guggenheim upped their target price on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday. Finally, Daiwa Securities Group raised their target price on Best Buy from $68.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 2nd. Seven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Best Buy presently has an average rating of “Hold” and a consensus price target of $85.40.

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.