Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 26,459 shares of the technology retailer’s stock after acquiring an additional 1,739 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Best Buy were worth $2,270,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of Best Buy in the 4th quarter worth approximately $32,000. OFI Invest Asset Management acquired a new position in shares of Best Buy in the 4th quarter worth approximately $34,000. Trust Co. of Vermont grew its stake in shares of Best Buy by 1,200.0% in the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after purchasing an additional 384 shares during the last quarter. LRI Investments LLC grew its stake in shares of Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after purchasing an additional 335 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Best Buy in the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Buying and Selling

In other Best Buy news, CEO Corie S. Barry purchased 13,500 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $72.92 per share, with a total value of $984,420.00. Following the acquisition, the chief executive officer now directly owns 378,780 shares of the company’s stock, valued at $27,620,637.60. This represents a 3.70 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.59% of the stock is currently owned by insiders.

Best Buy Trading Up 1.8 %

NYSE:BBY opened at $71.56 on Friday. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The company’s 50 day moving average is $84.40 and its 200-day moving average is $89.93. The firm has a market cap of $15.30 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 2.10 and a beta of 1.43. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

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

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a yield of 5.31%. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s payout ratio is 88.99%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Telsey Advisory Group dropped their target price on shares of Best Buy from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Evercore ISI dropped their target price on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating on the stock in a research report on Wednesday, March 5th. Loop Capital reissued a “negative” rating on shares of Best Buy in a research report on Wednesday, March 5th. Finally, Piper Sandler dropped their target price on shares of Best Buy from $102.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.