Skandinaviska Enskilda Banken AB publ Has $5.78 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 60.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,280 shares of the technology retailer's stock after selling 101,437 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Best Buy were worth $5,776,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc boosted its stake in Best Buy by 5.2% during the 4th quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer's stock valued at $218,000 after purchasing an additional 125 shares during the period. Rothschild Investment LLC raised its holdings in shares of Best Buy by 19.7% during the fourth quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer's stock valued at $74,000 after buying an additional 142 shares during the last quarter. Independent Advisor Alliance boosted its position in shares of Best Buy by 5.0% during the fourth quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer's stock worth $258,000 after buying an additional 142 shares during the period. Yousif Capital Management LLC increased its position in Best Buy by 0.5% in the 4th quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer's stock valued at $2,566,000 after acquiring an additional 145 shares during the period. Finally, Claro Advisors LLC raised its stake in Best Buy by 5.7% during the 4th quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer's stock valued at $246,000 after acquiring an additional 154 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

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Best Buy Stock Up 1.0 %

BBY traded up $0.73 on Wednesday, reaching $73.86. 2,465,976 shares of the company traded hands, compared to its average volume of 2,978,173. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. 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 company has a market cap of $15.79 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.10 and a beta of 1.43. The stock's 50 day moving average price is $83.96 and its 200-day moving average price is $89.58.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.18. The business had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same period in the prior year, the business posted $2.72 earnings per share. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently disclosed 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. This represents a $3.80 annualized dividend and a yield of 5.14%. The ex-dividend date is Tuesday, March 25th. This is a positive change from Best Buy's previous quarterly dividend of $0.94. Best Buy's dividend payout ratio (DPR) is presently 88.99%.

Wall Street Analysts Forecast Growth

BBY has been the topic of a number of recent analyst reports. Wedbush restated a "neutral" rating and set a $90.00 price target on shares of Best Buy in a research report on Monday, March 3rd. Loop Capital reissued a "negative" rating on shares of Best Buy in a report on Wednesday, March 5th. Evercore ISI decreased their price target on Best Buy from $95.00 to $80.00 and set an "in-line" rating for the company in a research note on Wednesday, March 5th. Barclays dropped their price objective on 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. Finally, Piper Sandler lowered their target price on Best Buy from $102.00 to $92.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Two equities 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's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $93.50.

Insider Activity at Best Buy

In related news, CEO Corie S. Barry purchased 13,500 shares of the stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the acquisition, the chief executive officer now directly owns 378,780 shares in the company, valued at approximately $27,620,637.60. This trade represents a 3.70 % increase in their position. 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 transaction of $226,844.78. Following the completion of the sale, the chief accounting officer now owns 19,218 shares of the company's stock, valued at $1,370,051.22. The trade was a 14.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.59% of the stock is owned by company insiders.

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.