SBI Securities Co. Ltd. Acquires Shares of 2,138 Best Buy Co., Inc. (NYSE:BBY)

SBI Securities Co. Ltd. bought a new stake in Best Buy Co., Inc. (NYSE:BBY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,138 shares of the technology retailer’s stock, valued at approximately $183,000.

A number of other institutional investors have also modified their holdings of BBY. IFP Advisors Inc grew its position in Best Buy by 5.2% in the 4th quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock valued at $218,000 after buying an additional 125 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of Best Buy by 19.7% in the 4th quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer’s stock worth $74,000 after acquiring an additional 142 shares during the period. Yousif Capital Management LLC increased its stake in shares of Best Buy by 0.5% during the fourth quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock worth $2,566,000 after acquiring an additional 145 shares during the period. Access Investment Management LLC increased its stake in shares of Best Buy by 12.2% during the third quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock worth $143,000 after acquiring an additional 150 shares during the period. Finally, Claro Advisors LLC raised its holdings in Best Buy by 5.7% during the fourth quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock worth $246,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s 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 sale, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BBY shares. JPMorgan Chase & Co. dropped their target price on Best Buy from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday. Evercore ISI dropped their price objective on Best Buy from $95.00 to $80.00 and set an “in-line” rating on the stock in a report on Wednesday. Loop Capital reduced their target price on Best Buy from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday. Guggenheim lowered their price target on shares of Best Buy from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Piper Sandler reduced their price objective on shares of Best Buy from $102.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.50.

Best Buy Stock Performance

Best Buy stock opened at $78.60 on Friday. 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 market capitalization of $16.80 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 2.10 and a beta of 1.43. The stock has a fifty day moving average of $85.75 and a two-hundred day moving average of $90.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

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

Best Buy Increases Dividend

The company 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 is Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a yield of 4.83%. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s dividend payout ratio (DPR) is 88.99%.

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.