Best Buy Co., Inc. (NYSE:BBY) Shares Bought by TCW Group Inc.

TCW Group Inc. raised its holdings in Best Buy Co., Inc. (NYSE:BBY) by 26.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 401,098 shares of the technology retailer’s stock after acquiring an additional 84,505 shares during the quarter. TCW Group Inc.’s holdings in Best Buy were worth $34,414,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Fisher Funds Management LTD acquired a new stake in Best Buy in the fourth quarter valued at $3,937,000. Pinnacle Financial Partners Inc acquired a new stake in Best Buy in the fourth quarter valued at $3,293,000. Allianz Asset Management GmbH lifted its holdings in Best Buy by 17.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,606,242 shares of the technology retailer’s stock valued at $137,816,000 after acquiring an additional 236,524 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in Best Buy by 0.7% in the fourth quarter. Concurrent Investment Advisors LLC now owns 27,467 shares of the technology retailer’s stock valued at $2,357,000 after acquiring an additional 200 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in Best Buy by 28.6% in the fourth quarter. Handelsbanken Fonder AB now owns 38,191 shares of the technology retailer’s stock valued at $3,277,000 after acquiring an additional 8,499 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Down 1.3 %

BBY opened at $89.80 on Friday. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The business has a 50-day moving average of $86.10 and a two-hundred day moving average of $90.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The stock has a market capitalization of $19.20 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 2.13 and a beta of 1.43.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. During the same period in the prior year, the company earned $1.29 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio is currently 64.27%.

Insider Activity

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BBY shares. Wells Fargo & Company dropped their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 27th. Barclays dropped their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. UBS Group dropped their price target on Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Truist Financial dropped their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Finally, Citigroup dropped their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Best Buy presently has an average rating of “Moderate Buy” and a consensus price target of $101.72.

Best Buy Company 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.