Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its position in Best Buy Co., Inc. (NYSE:BBY) by 52.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 110,857 shares of the technology retailer’s stock after purchasing an additional 38,216 shares during the period. Van ECK Associates Corp owned about 0.05% of Best Buy worth $9,511,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Greenleaf Trust lifted its position in shares of Best Buy by 1.2% in the third quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock valued at $977,000 after acquiring an additional 108 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Best Buy by 0.5% in the fourth quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock valued at $2,566,000 after acquiring an additional 145 shares in the last quarter. Access Investment Management LLC lifted its position in shares of Best Buy by 12.2% in the third quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock valued at $143,000 after acquiring an additional 150 shares in the last quarter. Claro Advisors LLC lifted its position in shares of Best Buy by 5.7% in the fourth quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock valued at $246,000 after acquiring an additional 154 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its position in shares of Best Buy by 14.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 1,243 shares of the technology retailer’s stock valued at $107,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Activity at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.59% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BBY has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Loop Capital reiterated a “buy” rating and set a $100.00 target price on shares of Best Buy in a research report on Wednesday, December 18th. Truist Financial reduced their target price on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Citigroup reduced their target price on Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Best Buy presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

Best Buy Stock Performance

Shares of Best Buy stock opened at $91.16 on Monday. The firm has a fifty day moving average of $85.76 and a two-hundred day moving average of $90.10. The stock has a market capitalization of $19.49 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 2.01 and a beta of 1.43. Best Buy Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.63 billion. During the same quarter in the prior year, the company earned $1.29 EPS. Best Buy’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were paid a $0.94 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.12%. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

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.