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

Xponance Inc. lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 35.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,294 shares of the technology retailer’s stock after buying an additional 10,590 shares during the period. Xponance Inc.’s holdings in Best Buy were worth $3,457,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BBY. GSA Capital Partners LLP acquired a new stake in Best Buy in the 3rd quarter valued at $443,000. Oppenheimer & Co. Inc. acquired a new stake in Best Buy in the 3rd quarter valued at $678,000. Natixis Advisors LLC increased its holdings in Best Buy by 12.0% in the 3rd quarter. Natixis Advisors LLC now owns 116,167 shares of the technology retailer’s stock valued at $12,000,000 after purchasing an additional 12,491 shares in the last quarter. Pathstone Holdings LLC increased its holdings in Best Buy by 2.7% in the 3rd quarter. Pathstone Holdings LLC now owns 33,975 shares of the technology retailer’s stock valued at $3,511,000 after purchasing an additional 899 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Best Buy in the 3rd quarter valued at $450,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Best Buy news, CEO Corie S. Barry bought 13,500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $72.92 per share, for a total transaction of $984,420.00. Following the transaction, the chief executive officer now directly owns 378,780 shares in the company, valued at $27,620,637.60. The trade was a 3.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 3,182 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $71.29, for a total value of $226,844.78. Following the transaction, the chief accounting officer now owns 19,218 shares of the company’s stock, valued at $1,370,051.22. This trade represents a 14.21 % decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by corporate insiders.

Best Buy Stock Performance

Shares of NYSE BBY opened at $73.52 on Friday. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average price is $83.54 and its two-hundred day moving average price is $89.36. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The stock has a market capitalization of $15.72 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter last year, the company posted $2.72 earnings per share. As a group, sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a yield of 5.17%. This is a boost from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s dividend payout ratio (DPR) is currently 88.99%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BBY. Loop Capital reiterated a “negative” rating on shares of Best Buy in a report on Wednesday, March 5th. Jefferies Financial Group decreased their price objective on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. decreased their price objective on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Truist Financial decreased their price objective on shares of Best Buy from $95.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Finally, Telsey Advisory Group decreased their price objective on shares of Best Buy from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $93.50.

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.