Dimensional Fund Advisors LP Has $270.91 Million Stake in Best Buy Co., Inc. (NYSE:BBY)

Dimensional Fund Advisors LP lifted its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,157,432 shares of the technology retailer's stock after purchasing an additional 146,267 shares during the quarter. Dimensional Fund Advisors LP owned 1.48% of Best Buy worth $270,910,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Rakuten Securities Inc. increased its stake in Best Buy by 971.9% during 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 during the period. Golden State Wealth Management LLC acquired a new position in shares of Best Buy during the fourth quarter valued at approximately $32,000. Atlas Capital Advisors Inc. raised its holdings in Best Buy by 186.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock worth $32,000 after purchasing an additional 243 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Best Buy in the fourth quarter worth approximately $34,000. Finally, Trust Co. of Vermont boosted its stake in 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 purchasing an additional 384 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BBY. Piper Sandler cut their price objective on Best Buy from $102.00 to $92.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. UBS Group set a $105.00 price objective on shares of Best Buy in a research report on Wednesday, March 5th. Guggenheim lowered their price objective on shares of Best Buy from $105.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. KeyCorp reissued a "sector weight" rating on shares of Best Buy in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their price target on shares of Best Buy from $89.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $91.28.

Best Buy Stock Performance

NYSE BBY traded up $2.50 during trading on Thursday, hitting $65.97. The company's stock had a trading volume of 3,671,540 shares, compared to its average volume of 3,293,325. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.71. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a market cap of $13.94 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42. The firm has a 50 day moving average price of $72.86 and a 200 day moving average price of $83.20.

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 (EPS) for the quarter, topping the consensus estimate 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 net margin of 3.01% and a return on equity of 45.93%. During the same period last year, the business posted $2.72 EPS. Equities research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were given a $0.95 dividend. The ex-dividend date was Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.76%. This is an increase from Best Buy's previous quarterly dividend of $0.94. Best Buy's dividend payout ratio (DPR) is currently 88.99%.

Insider Transactions at Best Buy

In other news, CAO Mathew Watson sold 2,951 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $72.65, for a total value of $214,390.15. Following the completion of the transaction, the chief accounting officer now owns 21,371 shares in the company, valued at approximately $1,552,603.15. This represents a 12.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Todd G. Hartman sold 4,893 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $355,476.45. Following the completion of the sale, the insider now directly owns 32,320 shares in the company, valued at approximately $2,348,048. The trade was a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,355 shares of company stock valued at $5,767,213. 0.59% of the stock is owned by corporate 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.