Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Signaturefd LLC

Signaturefd LLC decreased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 16.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,017 shares of the technology retailer’s stock after selling 394 shares during the quarter. Signaturefd LLC’s holdings in Best Buy were worth $173,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BBY. Raymond James Financial Inc. acquired a new position in shares of Best Buy during the fourth quarter valued at approximately $514,483,000. Nordea Investment Management AB raised its holdings in shares of Best Buy by 563.8% during the fourth quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock valued at $50,643,000 after acquiring an additional 503,204 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Best Buy by 817.4% during the third quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock valued at $55,564,000 after acquiring an additional 479,256 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Best Buy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer’s stock valued at $328,136,000 after acquiring an additional 459,353 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Best Buy by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,560,368 shares of the technology retailer’s stock valued at $562,880,000 after acquiring an additional 395,415 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Activity

In other news, CAO Mathew Watson sold 3,182 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $71.29, for a total value of $226,844.78. Following the sale, the chief accounting officer now directly owns 19,218 shares in the company, valued at approximately $1,370,051.22. This trade represents a 14.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Corie S. Barry acquired 13,500 shares of Best Buy stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the purchase, the chief executive officer now owns 378,780 shares of the company’s stock, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.59% of the company’s stock.

Best Buy Stock Up 0.2 %

NYSE:BBY opened at $73.63 on Friday. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average is $83.34 and its two-hundred day moving average is $89.09. Best Buy Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71. The stock has a market capitalization of $15.74 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. The company had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period in the prior year, the firm earned $2.72 earnings per share. Research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be paid a $0.95 dividend. This is a boost from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.16%. The ex-dividend date is Tuesday, March 25th. Best Buy’s dividend payout ratio (DPR) is presently 88.99%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wedbush restated a “neutral” rating and issued a $90.00 price target on shares of Best Buy in a research report on Monday, March 3rd. Bank of America dropped their price target on Best Buy from $80.00 to $75.00 and set an “underperform” rating for the company in a research report on Wednesday, March 5th. Truist Financial dropped their price target on Best Buy from $95.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. UBS Group set a $105.00 price target on Best Buy in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company dropped their price target on Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $93.50.

Best Buy Profile

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.