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

Thompson Siegel & Walmsley LLC lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 16.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,600 shares of the technology retailer’s stock after buying an additional 15,475 shares during the quarter. Thompson Siegel & Walmsley LLC owned approximately 0.05% of Best Buy worth $9,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in BBY. Raymond James Financial Inc. acquired a new stake in shares of Best Buy during the fourth quarter worth approximately $514,483,000. Nordea Investment Management AB grew its position in shares of Best Buy by 563.8% during the fourth quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock worth $50,643,000 after buying an additional 503,204 shares in the last quarter. National Bank of Canada FI grew its position in shares of Best Buy by 817.4% during the third quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock worth $55,564,000 after buying an additional 479,256 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Best Buy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer’s stock worth $328,136,000 after buying an additional 459,353 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Best Buy by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,560,368 shares of the technology retailer’s stock worth $562,880,000 after buying an additional 395,415 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BBY. JPMorgan Chase & Co. decreased their price target on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a report on Wednesday, March 5th. Wedbush reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of Best Buy in a report on Monday, March 3rd. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Truist Financial decreased their price objective on shares of Best Buy from $95.00 to $81.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $93.50.

Insider Activity at Best Buy

In related news, CEO Corie S. Barry acquired 13,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the purchase, the chief executive officer now directly 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 legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.59% of the company’s stock.

Best Buy Price Performance

Shares of NYSE BBY opened at $70.23 on Friday. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The firm’s 50-day simple moving average is $84.64 and its 200 day simple moving average is $90.05. 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 stock has a market cap of $15.02 billion, a P/E ratio of 12.01, a P/E/G ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the previous year, the business earned $2.72 earnings per share. Equities analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be paid a dividend of $0.95 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy’s payout ratio is currently 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.