30,817 Shares in Best Buy Co., Inc. (NYSE:BBY) Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 30,817 shares of the technology retailer's stock, valued at approximately $2,644,000.

Other hedge funds have also recently made changes to their positions in the company. Stevens Capital Management LP boosted its position in shares of Best Buy by 228.7% during the 4th quarter. Stevens Capital Management LP now owns 22,625 shares of the technology retailer's stock valued at $1,941,000 after acquiring an additional 15,741 shares during the last quarter. Invesco Ltd. lifted its position in Best Buy by 20.5% during the fourth quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer's stock valued at $316,784,000 after acquiring an additional 629,180 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Best Buy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer's stock worth $1,971,908,000 after acquiring an additional 191,161 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new stake in shares of Best Buy during the fourth quarter valued at $3,293,000. Finally, APG Asset Management N.V. purchased a new position in shares of Best Buy during the fourth quarter worth $9,073,000. Institutional investors own 80.96% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on BBY shares. Wedbush reissued a "neutral" rating and issued a $90.00 price objective on shares of Best Buy in a report on Monday, March 3rd. Citigroup reissued a "neutral" rating and issued a $70.00 price target (down previously from $93.00) on shares of Best Buy in a research note on Thursday, April 3rd. Morgan Stanley cut their price objective on Best Buy from $100.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Loop Capital reissued a "negative" rating on shares of Best Buy in a research report on Wednesday, March 5th. Finally, KeyCorp reissued a "sector weight" rating on shares of Best Buy in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $91.28.

Insider Buying and Selling at Best Buy

In other Best Buy news, CAO Mathew Watson sold 3,182 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $71.29, for a total value of $226,844.78. Following the completion of the sale, the chief accounting officer now directly owns 19,218 shares of the company's stock, valued at $1,370,051.22. This represents a 14.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Todd G. Hartman sold 4,893 shares of the business's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $72.65, for a total value of $355,476.45. Following the transaction, the insider now owns 32,320 shares in the company, valued at $2,348,048. This represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,355 shares of company stock worth $5,767,213. 0.59% of the stock is currently owned by company insiders.

Best Buy Price Performance

Shares of NYSE:BBY traded up $1.71 during trading on Friday, reaching $67.71. The company had a trading volume of 5,171,515 shares, compared to its average volume of 3,300,808. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $103.71. The firm has a market capitalization of $14.31 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42. The firm's fifty day moving average is $72.86 and its 200 day moving average is $83.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

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

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were paid a $0.95 dividend. This is an increase from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a yield of 5.61%. The ex-dividend date was Tuesday, March 25th. Best Buy's dividend payout ratio is currently 88.99%.

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.