Andra AP fonden Has $15.56 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Andra AP fonden lowered its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 59.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 181,306 shares of the technology retailer's stock after selling 267,794 shares during the period. Andra AP fonden owned 0.08% of Best Buy worth $15,556,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC grew its position in Best Buy by 6.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,354 shares of the technology retailer's stock worth $291,000 after purchasing an additional 215 shares during the last quarter. Inceptionr LLC bought a new position in Best Buy in the 4th quarter worth approximately $250,000. Raymond James Financial Inc. bought a new position in Best Buy in the 4th quarter worth approximately $514,483,000. Arizona State Retirement System increased its position in Best Buy by 0.9% in the 4th quarter. Arizona State Retirement System now owns 59,249 shares of the technology retailer's stock valued at $5,084,000 after acquiring an additional 538 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in Best Buy during the 4th quarter valued at $4,903,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BBY. Guggenheim lowered their price target on Best Buy from $105.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group reduced 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. Wells Fargo & Company dropped their target price on shares of Best Buy from $89.00 to $85.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. DA Davidson reduced their target price on shares of Best Buy from $117.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Finally, Truist Financial dropped their price target on Best Buy from $95.00 to $81.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $93.50.

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Best Buy Stock Down 3.0 %

Shares of BBY stock traded down $2.22 on Wednesday, hitting $72.61. The company's stock had a trading volume of 4,015,382 shares, compared to its average volume of 2,993,835. 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 $15.52 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The firm's fifty day moving average price is $85.23 and its 200-day moving average price is $90.32.

Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period last year, the business posted $2.72 EPS. Research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The firm also recently declared 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 of this dividend is Tuesday, March 25th. This is a positive change from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a yield of 5.23%. Best Buy's dividend payout ratio 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.