Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC increased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 16.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,600 shares of the technology retailer’s stock after acquiring an additional 15,475 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Best Buy were worth $9,232,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BBY. Rakuten Securities Inc. grew its holdings in Best Buy by 971.9% during the fourth 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 purchased a new position in Best Buy in the 4th quarter worth about $32,000. OFI Invest Asset Management purchased a new position in Best Buy in the 4th quarter worth about $34,000. Trust Co. of Vermont increased its stake in Best Buy by 1,200.0% in 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 in the last quarter. Finally, LRI Investments LLC increased its stake in Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after purchasing an additional 335 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Corie S. Barry bought 13,500 shares of Best Buy stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $72.92 per share, for a total transaction of $984,420.00. Following the acquisition, the chief executive officer now owns 378,780 shares in the company, valued at $27,620,637.60. This trade represents a 3.70 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.59% of the company’s stock.

Best Buy Stock Down 3.3 %

Shares of Best Buy stock opened at $70.23 on Friday. The firm has a market cap of $15.02 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 2.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The stock has a 50-day simple moving average of $84.64 and a 200-day simple moving average of $90.05.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.18. The business had revenue of $13.95 billion during the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period in the previous year, the company earned $2.72 EPS. On average, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be issued a $0.95 dividend. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy’s payout ratio is 88.99%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Evercore ISI dropped their price target on Best Buy from $95.00 to $80.00 and set an “in-line” rating on the stock in a research note on Wednesday, March 5th. StockNews.com cut Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Morgan Stanley dropped their price target on Best Buy from $100.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. DA Davidson dropped their price target on Best Buy from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Best Buy has an average rating of “Hold” and an average price target of $93.50.

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.