United Services Automobile Association Has $7.95 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

United Services Automobile Association increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 92,610 shares of the technology retailer’s stock after buying an additional 373 shares during the period. United Services Automobile Association’s holdings in Best Buy were worth $7,946,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in Best Buy by 5.2% during the 4th quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock worth $218,000 after buying an additional 125 shares during the period. Rothschild Investment LLC increased its position in shares of Best Buy by 19.7% during the fourth quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer’s stock worth $74,000 after acquiring an additional 142 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of Best Buy by 5.0% during the fourth quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer’s stock worth $258,000 after acquiring an additional 142 shares during the period. Yousif Capital Management LLC boosted its stake in Best Buy by 0.5% in the 4th quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock worth $2,566,000 after purchasing an additional 145 shares during the period. Finally, Claro Advisors LLC increased its holdings in Best Buy by 5.7% during the 4th quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock worth $246,000 after purchasing an additional 154 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling

In related news, CAO Mathew Watson sold 3,182 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $71.29, for a total value of $226,844.78. Following the completion of the transaction, the chief accounting officer now owns 19,218 shares of the company’s stock, valued at $1,370,051.22. The trade was a 14.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Corie S. Barry acquired 13,500 shares of Best Buy stock in a transaction on Wednesday, March 12th. The shares were purchased 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 directly owns 378,780 shares of the company’s stock, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.59% of the stock is currently owned by company insiders.

Best Buy Stock Up 0.2 %

BBY stock opened at $73.63 on Monday. The business’s fifty day moving average price is $83.34 and its two-hundred day moving average price is $89.01. The stock has a market capitalization of $15.74 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

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 business had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same period last year, the firm earned $2.72 earnings per share. On average, equities analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 payout ratio is 88.99%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Piper Sandler reduced their price objective on Best Buy from $102.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Guggenheim decreased their price target on Best Buy from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Wells Fargo & Company cut their price objective on Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. UBS Group set a $105.00 target price on shares of Best Buy in a report on Wednesday, March 5th. Finally, Citigroup decreased their price objective on shares of Best Buy from $105.00 to $93.00 and set a “buy” 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $93.50.

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.