Generali Asset Management SPA SGR Buys New Holdings in Best Buy Co., Inc. (NYSE:BBY)

Generali Asset Management SPA SGR purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,438 shares of the technology retailer’s stock, valued at approximately $3,126,000.

Other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. increased its stake in shares of Best Buy by 971.9% in 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 stake in Best Buy in the fourth quarter valued at $32,000. OFI Invest Asset Management purchased a new stake in Best Buy in the fourth quarter valued at $34,000. Trust Co. of Vermont boosted its holdings in Best Buy by 1,200.0% in the fourth 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 during the last quarter. Finally, LRI Investments LLC boosted its holdings in Best Buy by 632.1% in the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after purchasing an additional 335 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Trading Up 1.0 %

Shares of BBY stock opened at $73.86 on Thursday. The company’s 50-day moving average price is $83.75 and its 200-day moving average price is $89.47. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The stock has a market cap of $15.79 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. The firm had revenue of $13.95 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $2.72 EPS. As a group, equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.14%. This is an increase from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, March 25th. Best Buy’s dividend payout ratio (DPR) is presently 88.99%.

Insider Buying and Selling

In related news, CEO Corie S. Barry acquired 13,500 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $72.92 per share, with a total value of $984,420.00. Following the completion of the transaction, the chief executive officer now owns 378,780 shares of the company’s stock, valued at $27,620,637.60. The trade was a 3.70 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mathew Watson sold 3,182 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $71.29, for a total value of $226,844.78. Following the transaction, 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 disclosure for this sale can be found here. 0.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on BBY. UBS Group set a $105.00 price target on shares of Best Buy in a report on Wednesday, March 5th. Jefferies Financial Group cut their price objective on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Wedbush reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of Best Buy in a report on Monday, March 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, Morgan Stanley decreased their price objective on shares of Best Buy from $100.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $93.50.

Best Buy Company 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.