Epoch Investment Partners Inc. Sells 21,828 Shares of Best Buy Co., Inc. (NYSE:BBY)

Epoch Investment Partners Inc. lessened its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 573,842 shares of the technology retailer's stock after selling 21,828 shares during the period. Epoch Investment Partners Inc. owned about 0.27% of Best Buy worth $49,236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BBY. Rakuten Securities Inc. boosted its position in Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock worth $29,000 after acquiring an additional 311 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Best Buy during the fourth quarter worth approximately $32,000. Atlas Capital Advisors Inc. grew its position in Best Buy by 186.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Best Buy during the fourth quarter worth $34,000. Finally, Trust Co. of Vermont lifted its holdings in shares of Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer's stock valued at $36,000 after buying an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Insider Buying and Selling at Best Buy

In related news, CFO Matthew M. Bilunas sold 51,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $74.20, for a total value of $3,784,200.00. Following the sale, the chief financial officer now directly owns 55,856 shares in the company, valued at $4,144,515.20. This trade represents a 47.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mathew Watson sold 3,182 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.29, for a total transaction of $226,844.78. Following the transaction, the chief accounting officer now owns 19,218 shares of the company's stock, valued at approximately $1,370,051.22. This represents a 14.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,355 shares of company stock valued at $5,767,213. 0.59% of the stock is currently owned by company insiders.

Best Buy Trading Up 2.1 %

BBY traded up $1.29 during mid-day trading on Tuesday, reaching $63.40. The stock had a trading volume of 4,692,350 shares, compared to its average volume of 3,282,498. The firm's fifty day simple moving average is $73.92 and its two-hundred day simple moving average is $83.56. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The stock has a market capitalization of $13.40 billion, a P/E ratio of 10.84, a P/E/G ratio of 2.10 and a beta of 1.42. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, topping the consensus estimate of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $13.95 billion during the quarter, compared to analysts' expectations of $13.69 billion. During the same quarter in the previous year, the company earned $2.72 EPS. On average, equities analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date was Tuesday, March 25th. This is an increase from Best Buy's previous quarterly dividend of $0.94. Best Buy's dividend payout ratio is currently 88.99%.

Analyst Ratings Changes

BBY has been the subject of a number of analyst reports. KeyCorp reiterated a "sector weight" rating on shares of Best Buy in a research note on Wednesday, March 5th. Piper Sandler reduced their target price on Best Buy from $102.00 to $92.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. DA Davidson reiterated a "buy" rating and set a $110.00 price target on shares of Best Buy in a report on Monday, April 14th. Bank of America reduced their price objective on shares of Best Buy from $80.00 to $75.00 and set an "underperform" rating for the company in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Best Buy from $115.00 to $110.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $91.28.

About Best Buy

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.