David Kenny Buys Best Buy Shares
David Kenny purchased 4,330 shares of Best Buy on June 12, 2026.
Key Points
- David Kenny purchased 4,330 shares of Best Buy Co., Inc. (NYSE: BBY) on June 12, 2026.
- Shares of Best Buy traded at $77.41, with a market cap of $16.32 billion and a P/E ratio of 14.34.
- Geode Capital Management increased its holdings by 2.49 million shares, while BlackRock reduced its stake by 641,949 shares.
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On June 12, 2026, David Kenny purchased 4,330 shares of Best Buy Co., Inc. (NYSE: BBY). This insider transaction did not involve a pre-planned trading arrangement and reflects a direct purchase of shares.
Insider Buying and Selling at Best Buy Co., Inc.
David Kenny was not the only insider involved in transactions on June 12. Sima Sistani, David Kimbell, Karen McLoughlin, Mario Jesus Marte, and Steven Rendle each acquired 2,611 shares. These purchases were also not part of any pre-planned trading scheme.
Other Institutional Activity in Best Buy
Several institutional investors adjusted their positions in Best Buy. BlackRock, Inc. trimmed its holdings by 641,949 shares, ending with 25.4 million shares valued at about $1.63 billion. State Street Corp reduced its stake by 88,888 shares, holding 13.2 million shares worth $857.1 million. Geode Capital Management, LLC increased its position by 2.49 million shares, now holding 7.69 million shares valued at $501.7 million. Vanguard Capital Management LLC and Vanguard Portfolio Management LLC both established new positions, each holding 12.8 million and 9.77 million shares, respectively.
Best Buy Co., Inc. Stock Down 6.1%
Shares of Best Buy Co., Inc. (NYSE: BBY) traded at $77.41. The company has a market capitalization of approximately $16.32 billion. It boasts a P/E ratio of 14.34 and a forward P/E of 10.95. Best Buy's stock has experienced a 52-week low of $55.10 and a high of $84.99. Its 50-day moving average is $64.58, while the 200-day moving average is $69.85. The company's beta is 1.33, indicating its volatility relative to the market.
$BBY stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Best Buy reported revenue of $41.86 billion, with a modest growth rate of 1.9%. The company achieved a net margin of 2.73% and a return on equity of 39.1%. The next earnings report is scheduled for August 27, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
7 target raises vs 3 cuts.
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EPS & revenue
EPS beat estimates by 3.3%. Revenue met estimates.
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Profit surprise
EBITDA beat by 5 percent. Operating income beat by 12 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 downgrade, 7 target raises, 3 target cuts.
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Earnings quality
Positive free cash flow.
Earnings Call Summary
Best Buy delivered 9.4 billion dollars in second quarter sales, up 1.6 percent, driven by strong Switch 2 launch, six straight quarters of computing growth hitting highest laptop volumes in 15 years, and gaming momentum. They launched their marketplace offering six times more products online and are expanding vendor partnerships, including a new one with IKEA for kitchen and appliance displays. Cost pressures from tariffs remained manageable at below the effective tariff rate due to supply chain mitigation.
Guidance Best Buy kept its full year sales guidance of 41.1 billion to 41.9 billion dollars and earnings per share of 6.15 to 6.30 dollars. Management said they expect to hit the higher end of their sales range. They also expect gaming and computing to keep growing in the back half, with new phone launches and Windows 11 upgrades helping momentum.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Best Buy offers an annual dividend rate of $3.84, yielding 4.96%. The dividend payout ratio stands at 70.56%.
Analysts Set New Price Targets
On June 2, 2026, DA Davidson maintained a 'buy' rating on Best Buy with a price target of $90.00. On May 29, Citigroup, Truist Securities, JP Morgan, Wells Fargo, Evercore ISI Group, and Wedbush all maintained 'hold' ratings with varying price targets ranging from $65.00 to $85.00. The consensus recommendation for Best Buy is 'hold', with a mean price target of $78.65 based on 20 analyst opinions.
About Best Buy Co., Inc.
Best Buy Co., Inc. is a leading specialty retailer in the consumer cyclical sector. Based in Richfield, Minnesota, the company offers a wide range of technology products and services across the United States, Canada, and internationally. Its offerings include computing devices, mobile phones, consumer electronics, and home appliances. Best Buy is managed by CEO Corie Sue Barry and employs around 82,000 people.
Bottom Line
David Kenny's recent purchase of Best Buy shares suggests confidence in the company's prospects. Investors often monitor such insider transactions closely. It's important to remember that these filings are historical and may not reflect current positions. Best Buy remains a significant player in the specialty retail sector, with a broad product range and a substantial market presence.
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