Swiss National Bank Has $49.45 Million Position in Best Buy Co., Inc. (NYSE:BBY)

Swiss National Bank decreased its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 576,300 shares of the technology retailer's stock after selling 32,000 shares during the quarter. Swiss National Bank owned about 0.27% of Best Buy worth $49,447,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Rakuten Securities Inc. grew its stake in shares of Best Buy by 971.9% in 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 in the last quarter. Golden State Wealth Management LLC bought a new stake in Best Buy during the fourth quarter worth approximately $32,000. LRI Investments LLC boosted its position in Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer's stock worth $40,000 after purchasing an additional 335 shares during the period. OFI Invest Asset Management bought a new stake in Best Buy during the fourth quarter worth approximately $34,000. Finally, Trust Co. of Vermont boosted its position in Best Buy by 1,200.0% during the fourth 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 own 80.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler decreased their target price on Best Buy from $102.00 to $92.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Wedbush reiterated a "neutral" rating and set a $90.00 price target on shares of Best Buy in a report on Monday, March 3rd. DA Davidson cut their price target on Best Buy from $117.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on Best Buy from $115.00 to $110.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Finally, Citigroup cut their price target on Best Buy from $105.00 to $93.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $93.50.

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Insider Transactions at Best Buy

In other news, CEO Corie S. Barry purchased 13,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired 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. The trade was a 3.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mathew Watson sold 3,182 shares of the firm's stock in a transaction dated 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 transaction, the chief accounting officer now owns 19,218 shares in the company, 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. Company insiders own 0.59% of the company's stock.

Best Buy Price Performance

Best Buy stock traded down $0.27 during mid-day trading on Thursday, hitting $73.52. 2,661,708 shares of the company were exchanged, compared to its average volume of 2,974,007. 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 business has a fifty day moving average of $83.75 and a 200 day moving average of $89.47. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The company has a market capitalization of $15.72 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43.

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, topping the consensus estimate of $2.40 by $0.18. The company had revenue of $13.95 billion for the quarter, compared to analysts' expectations of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same quarter in the prior year, the business earned $2.72 earnings per share. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 5.17%. 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 is presently 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.