Tokio Marine Asset Management Co. Ltd. Increases Stake in Best Buy Co., Inc. (NYSE:BBY)

Tokio Marine Asset Management Co. Ltd. boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 9.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,380 shares of the technology retailer’s stock after buying an additional 526 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Best Buy were worth $659,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BBY. Richardson Financial Services Inc. lifted its stake in shares of Best Buy by 190.9% in the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock valued at $27,000 after purchasing an additional 210 shares during the period. Innealta Capital LLC bought a new stake in shares of Best Buy during the 2nd quarter valued at $35,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy in the 3rd quarter worth about $40,000. Whittier Trust Co. increased its stake in shares of Best Buy by 53.3% in the 2nd quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock worth $41,000 after acquiring an additional 171 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Best Buy by 103.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 509 shares of the technology retailer’s stock worth $42,000 after acquiring an additional 259 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Trading Up 1.2 %

NYSE:BBY opened at $92.66 on Friday. The company has a market cap of $19.90 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.37 and a beta of 1.47. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. The company has a 50 day simple moving average of $95.70 and a two-hundred day simple moving average of $88.12. Best Buy Co., Inc. has a 12 month low of $62.92 and a 12 month high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, topping the consensus estimate of $1.16 by $0.18. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. Best Buy’s revenue was down 3.1% compared to the same quarter last year. Research analysts forecast that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is presently 64.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Wells Fargo & Company raised their price objective on Best Buy from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. DA Davidson reissued a “buy” rating and issued a $117.00 target price on shares of Best Buy in a report on Tuesday, October 15th. Citigroup cut their target price on Best Buy from $115.00 to $109.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Telsey Advisory Group lifted their price target on Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Best Buy has a consensus rating of “Moderate Buy” and a consensus price target of $103.35.

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.