Landscape Capital Management L.L.C. Buys Shares of 4,157 Best Buy Co., Inc. (NYSE:BBY)

Landscape Capital Management L.L.C. purchased a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,157 shares of the technology retailer's stock, valued at approximately $357,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BBY. Rakuten Securities Inc. increased its position in shares of 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 purchasing an additional 311 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Best Buy during the fourth quarter valued at about $32,000. Atlas Capital Advisors Inc. raised its stake in shares of Best Buy by 186.9% in the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock valued at $32,000 after acquiring an additional 243 shares during the period. OFI Invest Asset Management acquired a new position in shares of Best Buy in the 4th quarter worth approximately $34,000. Finally, Trust Co. of Vermont boosted its position 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 worth $36,000 after purchasing an additional 384 shares during the period. Institutional investors and hedge funds own 80.96% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BBY. UBS Group set a $105.00 target price on Best Buy in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut 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. KeyCorp reissued a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 5th. Truist Financial cut their price objective on Best Buy from $81.00 to $64.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America decreased their target price on Best Buy from $80.00 to $75.00 and set an "underperform" rating for the company in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $91.28.

Best Buy Stock Performance

Shares of NYSE BBY traded up $0.72 during mid-day trading on Friday, hitting $60.47. The company had a trading volume of 5,163,129 shares, compared to its average volume of 3,228,572. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month 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 firm has a market cap of $12.78 billion, a P/E ratio of 10.34, a PEG ratio of 2.10 and a beta of 1.42. The business's 50-day simple moving average is $77.46 and its 200-day simple moving average is $85.35.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.18. The business 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 in the previous year, the business earned $2.72 EPS. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 6.28%. The ex-dividend date is Tuesday, March 25th. This is a boost from Best Buy's previous quarterly dividend of $0.94. Best Buy's dividend payout ratio (DPR) is presently 88.99%.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 3,182 shares of Best Buy 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 directly 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 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 stock in a transaction that occurred on 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 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. Over the last three months, insiders have sold 78,355 shares of company stock worth $5,767,213. Corporate insiders own 0.59% of the company's stock.

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.