2,138 Shares in Best Buy Co., Inc. (NYSE:BBY) Acquired by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,138 shares of the technology retailer’s stock, valued at approximately $183,000.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of Best Buy by 563.8% in the 4th quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock worth $50,643,000 after buying an additional 503,204 shares during the period. National Bank of Canada FI increased its stake in 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 worth $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% in the 4th quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer’s stock worth $328,136,000 after purchasing an additional 459,353 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Best Buy by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock valued at $636,840,000 after purchasing an additional 241,988 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Best Buy by 17.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,606,242 shares of the technology retailer’s stock worth $137,816,000 after purchasing an additional 236,524 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of BBY stock opened at $78.60 on Friday. The firm has a fifty day moving average of $85.75 and a two-hundred day moving average of $90.43. The firm has a market cap of $16.80 billion, a P/E ratio of 13.44, a P/E/G ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year 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 announced its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $13.95 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same period in the previous year, the company earned $2.72 earnings per share. As a group, research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date is Tuesday, March 25th. This is an increase from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s payout ratio is currently 88.99%.

Insider Buying and Selling at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.59% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BBY shares. Guggenheim cut their price target on shares of Best Buy from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays lowered their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. Loop Capital reduced their price objective on Best Buy from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Evercore ISI lowered their target price on Best Buy from $95.00 to $80.00 and set an “in-line” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.