Best Buy Co., Inc. (NYSE:BBY) Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 8.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 274,514 shares of the technology retailer’s stock after acquiring an additional 21,299 shares during the period. American Century Companies Inc.’s holdings in Best Buy were worth $23,139,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BBY. Rise Advisors LLC lifted its position in shares of Best Buy by 69.5% in the 1st quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after buying an additional 132 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in Best Buy during the first quarter worth about $27,000. PrairieView Partners LLC lifted its holdings in Best Buy by 67.1% in the first quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock worth $31,000 after acquiring an additional 151 shares during the last quarter. Innealta Capital LLC acquired a new position in Best Buy in the second quarter valued at approximately $35,000. Finally, American National Bank bought a new position in shares of Best Buy during the first quarter valued at approximately $37,000. 80.96% of the stock is currently owned by institutional investors.

Best Buy Stock Performance

Shares of BBY opened at $98.48 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. The firm’s 50 day moving average is $89.93 and its 200-day moving average is $83.32. Best Buy Co., Inc. has a 12-month low of $62.30 and a 12-month high of $103.71. The stock has a market capitalization of $21.24 billion, a P/E ratio of 17.25, a P/E/G ratio of 2.56 and a beta of 1.46.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.18. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 earnings per share. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.26 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is currently 65.85%.

Insider Buying and Selling

In other news, EVP Jason J. Bonfig sold 3,500 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $83.02, for a total value of $290,570.00. Following the completion of the sale, the executive vice president now owns 50,714 shares of the company’s stock, valued at $4,210,276.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Jason J. Bonfig sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $83.02, for a total transaction of $290,570.00. Following the completion of the sale, the executive vice president now directly owns 50,714 shares in the company, valued at $4,210,276.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Richard M. Schulze sold 691,328 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the completion of the transaction, the chairman now owns 14,911,525 shares in the company, valued at approximately $1,319,073,501.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,383,370 shares of company stock valued at $122,233,276. Company insiders own 0.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Truist Financial boosted their price objective on Best Buy from $86.00 to $107.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Bank of America upped their price target on shares of Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a research report on Friday, August 30th. DA Davidson lifted their price objective on shares of Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, May 31st. BNP Paribas upgraded shares of Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, UBS Group boosted their price objective on Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $102.56.

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.