Avanza Fonder AB Decreases Stock Holdings in Best Buy Co., Inc. $BBY

Avanza Fonder AB lessened its stake in Best Buy Co., Inc. (NYSE:BBY) by 43.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,672 shares of the technology retailer’s stock after selling 9,038 shares during the period. Avanza Fonder AB’s holdings in Best Buy were worth $781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Sage Private Wealth Group LLC lifted its position in shares of Best Buy by 3.1% during the third quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock valued at $311,000 after buying an additional 123 shares during the last quarter. LVW Advisors LLC grew its position in shares of Best Buy by 3.9% in the 3rd quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock worth $275,000 after buying an additional 137 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after buying an additional 138 shares during the last quarter. Huntington National Bank raised its stake in shares of Best Buy by 12.0% during the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock worth $98,000 after acquiring an additional 139 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its position in Best Buy by 1.5% during the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after acquiring an additional 144 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Insider Transactions at Best Buy

In other Best Buy news, EVP Kathleen Scarlett sold 8,049 shares of Best Buy stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $515,296.98. Following the completion of the sale, the executive vice president directly owned 102,669 shares in the company, valued at approximately $6,572,869.38. The trade was a 7.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Mathew Watson sold 3,298 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $211,137.96. Following the completion of the sale, the chief accounting officer directly owned 23,192 shares in the company, valued at $1,484,751.84. This trade represents a 12.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 77,247 shares of company stock valued at $4,945,353 over the last quarter. Company insiders own 0.47% of the company’s stock.

Best Buy Trading Down 2.0%

NYSE:BBY opened at $60.46 on Thursday. The company has a market capitalization of $12.64 billion, a P/E ratio of 12.00, a PEG ratio of 1.52 and a beta of 1.46. The company has a current ratio of 1.11, a quick ratio of 0.43 and a debt-to-equity ratio of 0.39. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $84.99. The firm has a fifty day simple moving average of $65.18 and a 200-day simple moving average of $71.75.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.13. The firm had revenue of $13.81 billion for the quarter, compared to the consensus estimate of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 24th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.4%. This is a positive change from Best Buy’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Tuesday, March 24th. Best Buy’s dividend payout ratio is presently 76.19%.

Wall Street Analysts Forecast Growth

BBY has been the subject of several recent analyst reports. Daiwa Securities Group lowered their target price on shares of Best Buy from $80.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. The Goldman Sachs Group reduced their price target on Best Buy from $93.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. KeyCorp reiterated a “sector weight” rating on shares of Best Buy in a report on Wednesday, March 4th. Wall Street Zen cut Best Buy from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Truist Financial reduced their target price on Best Buy from $73.00 to $66.00 and set a “hold” rating on the stock in a research report on Tuesday, March 3rd. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Best Buy has an average rating of “Hold” and an average price target of $76.20.

Best Buy News Roundup

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

• Positive Sentiment: Analysts and media are highlighting Best Buy’s long dividend track record — the company has raised its payout for 22 consecutive years and the yield sits around 6.1%, which supports income-focused demand for the shares. This underpins the stock’s appeal to dividend investors. Best Buy’s 6.1% Dividend Yield and 22-Year Streak Look Safe, but Here’s the Risk
• Negative Sentiment: Multiple senior executives sold shares on March 23 (including CEO Corie Barry, CFO Matthew Bilunas and several EVPs/insiders), reducing their holdings by roughly 7–13% in reported transactions — a pattern that can be read as a negative signal or profit-taking by insiders. Example SEC filing for the CEO sale: SEC Filing – CEO Sale
• Negative Sentiment: Recent commentary (Yahoo Finance) calls out risks for BBY tied to softer quarterly results and underperformance versus the S&P over the past six months, which may raise concerns about near-term growth and valuation even as the dividend looks attractive. 3 Reasons BBY is Risky and 1 Stock to Buy Instead

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.