Pensionfund Sabic Decreases Holdings in Best Buy Co., Inc. $BBY

Pensionfund Sabic reduced its holdings in Best Buy Co., Inc. (NYSE:BBY) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the technology retailer’s stock after selling 1,000 shares during the period. Pensionfund Sabic’s holdings in Best Buy were worth $1,104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BBY. Pacer Advisors Inc. lifted its stake in shares of Best Buy by 3,890.0% in the first quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock worth $75,353,000 after buying an additional 998,021 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Best Buy by 36.5% in the first quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock worth $181,357,000 after buying an additional 671,408 shares in the last quarter. Nuveen LLC purchased a new position in shares of Best Buy in the first quarter worth about $39,579,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Best Buy by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock worth $512,986,000 after buying an additional 408,605 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Best Buy in the fourth quarter worth about $29,090,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Price Performance

Best Buy stock opened at $75.96 on Friday. The company’s 50 day simple moving average is $71.19 and its 200-day simple moving average is $70.37. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $103.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, equities research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be issued a $0.95 dividend. The ex-dividend date is Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.0%. Best Buy’s payout ratio is 104.97%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Evercore ISI raised their price objective on shares of Best Buy from $75.00 to $77.00 and gave the stock an “in-line” rating in a research report on Friday, August 29th. Citigroup restated a “buy” rating on shares of Best Buy in a research report on Thursday, August 28th. BNP Paribas upgraded shares of Best Buy to a “hold” rating in a research report on Friday, May 30th. Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $82.59.

Insider Buying and Selling

In related news, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the transaction, the chief accounting officer owned 22,150 shares of the company’s stock, valued at $1,640,650.50. This trade represents a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,833 shares of company stock valued at $14,941,472 in the last 90 days. Company insiders own 0.47% of the company’s stock.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.