Best Buy Co., Inc. (NYSE:BBY) Shares Acquired by TCW Group Inc.

TCW Group Inc. lifted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 26.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 401,098 shares of the technology retailer’s stock after purchasing an additional 84,505 shares during the quarter. TCW Group Inc. owned about 0.19% of Best Buy worth $34,414,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BBY. Golden State Wealth Management LLC acquired a new stake in shares of Best Buy during the fourth quarter worth about $32,000. Trust Co. of Vermont lifted its position in shares of Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after purchasing an additional 384 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Best Buy during the third quarter worth about $40,000. LRI Investments LLC lifted its position in shares of Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after purchasing an additional 335 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Best Buy during the third quarter worth about $44,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

BBY stock opened at $89.80 on Friday. The company has a market capitalization of $19.20 billion, a P/E ratio of 15.35, a PEG ratio of 2.13 and a beta of 1.43. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The business has a 50 day simple moving average of $86.10 and a 200-day simple moving average of $90.36. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

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

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio is presently 64.27%.

Insider Buying and Selling

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BBY. Telsey Advisory Group cut 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 note on Tuesday, November 26th. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barclays cut their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Morgan Stanley cut their target price on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

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.