Vontobel Holding Ltd. Has $3.48 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Vontobel Holding Ltd. grew its holdings in Best Buy Co., Inc. (NYSE:BBY) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,503 shares of the technology retailer’s stock after buying an additional 346 shares during the quarter. Vontobel Holding Ltd.’s holdings in Best Buy were worth $3,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BBY. Nordea Investment Management AB increased its stake in shares of Best Buy by 563.8% in the fourth quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock valued at $50,643,000 after buying an additional 503,204 shares in the last quarter. National Bank of Canada FI increased its stake in shares of 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. Charles Schwab Investment Management Inc. increased its stake in shares of Best Buy by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock valued at $636,840,000 after buying an additional 241,988 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Best Buy by 36.5% in the third 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 last quarter. Finally, TCW Group Inc. boosted its holdings in Best Buy by 156.6% in the third quarter. TCW Group Inc. now owns 316,593 shares of the technology retailer’s stock valued at $32,704,000 after acquiring an additional 193,209 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BBY shares. Barclays decreased their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. Guggenheim decreased their price target on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Wells Fargo & Company decreased their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 27th. UBS Group decreased their price target on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Truist Financial decreased their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

Insider Activity at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is owned by insiders.

Best Buy Trading Up 2.2 %

NYSE:BBY opened at $91.16 on Monday. 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. The stock has a market capitalization of $19.49 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 2.01 and a beta of 1.43. The business’s 50-day simple moving average is $85.76 and its 200-day simple moving average is $90.10.

Best Buy (NYSE:BBY) last announced its 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 net margin of 3.01% and a return on equity of 45.93%. The firm had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. During the same period in the prior year, the business posted $1.29 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Sell-side analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio is presently 64.27%.

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.