3,721 Shares in Best Buy Co., Inc. (NYSE:BBY) Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, Holdings Channel.com reports. The firm acquired 3,721 shares of the technology retailer’s stock, valued at approximately $291,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in Best Buy by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,478,759 shares of the technology retailer’s stock worth $311,139,000 after purchasing an additional 66,770 shares during the period. Invesco Ltd. lifted its stake in Best Buy by 8.7% in the 3rd quarter. Invesco Ltd. now owns 3,450,910 shares of the technology retailer’s stock valued at $239,735,000 after purchasing an additional 276,366 shares during the last quarter. Northern Trust Corp boosted its position in Best Buy by 7.7% in the third quarter. Northern Trust Corp now owns 2,787,163 shares of the technology retailer’s stock valued at $193,624,000 after buying an additional 199,749 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Best Buy by 6.4% during the fourth quarter. Federated Hermes Inc. now owns 2,752,920 shares of the technology retailer’s stock worth $215,499,000 after buying an additional 166,478 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Best Buy by 120.3% during the third quarter. Barclays PLC now owns 1,336,071 shares of the technology retailer’s stock worth $92,819,000 after buying an additional 729,605 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Down 1.8 %

NYSE BBY traded down $1.34 during mid-day trading on Tuesday, reaching $73.06. 2,614,982 shares of the stock were exchanged, compared to its average volume of 2,924,947. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $86.11. The stock has a 50 day simple moving average of $77.87 and a 200-day simple moving average of $74.31. The stock has a market cap of $15.81 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.94 and a beta of 1.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 0.37.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.21. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The firm had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.58 billion. During the same period in the previous year, the firm posted $2.61 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were paid a $0.94 dividend. This is an increase from Best Buy’s previous quarterly dividend of $0.92. This represents a $3.76 annualized dividend and a yield of 5.15%. The ex-dividend date was Wednesday, March 20th. Best Buy’s payout ratio is 66.08%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BBY shares. Morgan Stanley boosted their price objective on Best Buy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. UBS Group raised their price target on shares of Best Buy from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Wedbush boosted their price objective on shares of Best Buy from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Barclays raised their target price on Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Finally, Truist Financial upped their price target on Best Buy from $68.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.00.

Insider Buying and Selling at Best Buy

In other Best Buy news, insider Todd G. Hartman sold 3,973 shares of Best Buy stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $324,991.40. Following the completion of the sale, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Mathew Watson sold 2,505 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $204,909.00. Following the completion of the sale, the chief accounting officer now directly owns 25,638 shares of the company’s stock, valued at $2,097,188.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Todd G. Hartman sold 3,973 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $324,991.40. Following the sale, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,023 shares of company stock valued at $4,253,900. Corporate insiders own 0.59% of the company’s stock.

About Best Buy

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.