Thompson Siegel & Walmsley LLC Has $9.23 Million Stake in Best Buy Co., Inc. (NYSE:BBY)

Thompson Siegel & Walmsley LLC increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 16.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,600 shares of the technology retailer's stock after buying an additional 15,475 shares during the quarter. Thompson Siegel & Walmsley LLC owned about 0.05% of Best Buy worth $9,232,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. PGGM Investments increased its position in shares of Best Buy by 515.1% in the fourth quarter. PGGM Investments now owns 13,021 shares of the technology retailer's stock worth $1,117,000 after purchasing an additional 10,904 shares during the period. HBK Sorce Advisory LLC grew its stake in Best Buy by 27.9% during the fourth quarter. HBK Sorce Advisory LLC now owns 2,521 shares of the technology retailer's stock worth $216,000 after buying an additional 550 shares in the last quarter. Erste Asset Management GmbH increased its holdings in Best Buy by 2.0% in the 4th quarter. Erste Asset Management GmbH now owns 75,200 shares of the technology retailer's stock valued at $6,620,000 after buying an additional 1,500 shares during the period. Achmea Investment Management B.V. raised its position in shares of Best Buy by 0.6% in the 4th quarter. Achmea Investment Management B.V. now owns 160,292 shares of the technology retailer's stock valued at $13,754,000 after buying an additional 954 shares in the last quarter. Finally, Rakuten Securities Inc. raised its position in shares of Best Buy by 971.9% in the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock valued at $29,000 after buying an additional 311 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

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Insider Buying and Selling

In other Best Buy news, CEO Corie S. Barry purchased 13,500 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $72.92 per share, for a total transaction of $984,420.00. Following the acquisition, the chief executive officer now owns 378,780 shares in the company, valued at approximately $27,620,637.60. The trade was a 3.70 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.59% of the stock is owned by insiders.

Best Buy Trading Down 0.9 %

NYSE:BBY traded down $0.67 during trading hours on Tuesday, hitting $73.10. 2,396,856 shares of the company were exchanged, compared to its average volume of 2,982,301. The company has a fifty day simple moving average of $84.18 and a 200 day simple moving average of $89.77. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. 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 - Get Free Report) 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 company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period in the previous year, the firm earned $2.72 earnings per share. Sell-side analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 boost from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.20%. Best Buy's dividend payout ratio is 88.99%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BBY. Bank of America decreased their price objective on shares of Best Buy from $80.00 to $75.00 and set an "underperform" rating on the stock in a research note on Wednesday, March 5th. Telsey Advisory Group lowered their price target on Best Buy from $110.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. Evercore ISI dropped their price objective on Best Buy from $95.00 to $80.00 and set an "in-line" rating for the company in a research report on Wednesday, March 5th. Citigroup decreased their target price on Best Buy from $105.00 to $93.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Finally, KeyCorp reissued a "sector weight" rating on shares of Best Buy in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Best Buy currently has an average rating of "Hold" and an average target price of $93.50.

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.