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

KBC Group NV boosted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 376,308 shares of the technology retailer’s stock after purchasing an additional 713 shares during the period. KBC Group NV’s holdings in Best Buy were worth $32,287,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB increased its holdings in shares of Best Buy by 563.8% during the 4th quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock valued at $50,643,000 after purchasing an additional 503,204 shares in the last quarter. National Bank of Canada FI increased its holdings in Best Buy by 817.4% in the third quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock valued at $55,564,000 after buying an additional 479,256 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Best Buy in the second quarter worth about $25,287,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Best Buy by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock worth $636,840,000 after acquiring an additional 241,988 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Best Buy by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 753,471 shares of the technology retailer’s stock valued at $73,016,000 after acquiring an additional 201,562 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Telsey Advisory Group dropped their target price on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 26th. Morgan Stanley reduced their price target on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Truist Financial lowered their price objective on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Finally, Wells Fargo & Company decreased their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Best Buy presently has an average rating of “Moderate Buy” and a consensus price target of $101.72.

Best Buy Trading Up 0.6 %

Shares of BBY opened at $85.21 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $18.22 billion, a P/E ratio of 14.56, a P/E/G ratio of 2.11 and a beta of 1.43. The firm has a 50-day moving average price of $86.49 and a 200 day moving average price of $90.20. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71.

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

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.59% of the company’s stock.

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.