Vontobel Holding Ltd. Decreases Holdings in Best Buy Co., Inc. (NYSE:BBY)

Vontobel Holding Ltd. trimmed its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 20.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,740 shares of the technology retailer’s stock after selling 7,924 shares during the period. Vontobel Holding Ltd.’s holdings in Best Buy were worth $2,406,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC raised its stake in Best Buy by 549.1% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 302 shares during the period. Stonebridge Capital Advisors LLC increased its stake in shares of Best Buy by 81.9% in the third quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock worth $29,000 after purchasing an additional 185 shares in the last quarter. Hartford Financial Management Inc. raised its position in shares of Best Buy by 56.5% in the fourth quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock valued at $30,000 after purchasing an additional 140 shares during the period. Clear Street Markets LLC lifted its stake in shares of Best Buy by 90.6% during the 1st quarter. Clear Street Markets LLC now owns 385 shares of the technology retailer’s stock valued at $30,000 after buying an additional 183 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its stake in shares of Best Buy by 30.5% during the 3rd quarter. Clearstead Advisors LLC now owns 724 shares of the technology retailer’s stock valued at $46,000 after buying an additional 169 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Price Performance

Shares of Best Buy stock opened at $76.00 on Friday. Best Buy Co., Inc. has a 12-month low of $62.30 and a 12-month high of $86.11. The firm has a market cap of $16.37 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.96 and a beta of 1.49. The company has a quick ratio of 0.37, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $77.95 and its two-hundred day simple moving average is $73.85.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.21. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.58 billion. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $2.61 EPS. As a group, equities analysts expect that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were issued a $0.94 dividend. The ex-dividend date was Wednesday, March 20th. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. This represents a $3.76 annualized dividend and a yield of 4.95%. Best Buy’s dividend payout ratio is 66.08%.

Analysts Set New Price Targets

Several research analysts have commented on BBY shares. Telsey Advisory Group upgraded Best Buy from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $95.00 in a research note on Wednesday, March 20th. Truist Financial boosted their price target on shares of Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. upgraded shares of Best Buy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $89.00 to $101.00 in a research report on Friday, March 22nd. Barclays lifted their price objective on shares of Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Finally, TheStreet raised Best Buy from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.60.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 3,520 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $82.43, for a total value of $290,153.60. Following the completion of the transaction, the chief accounting officer now directly owns 22,118 shares of the company’s stock, valued at $1,823,186.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Kathleen Scarlett sold 5,096 shares of Best Buy stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $416,852.80. Following the sale, the executive vice president now directly owns 76,226 shares in the company, valued at $6,235,286.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mathew Watson sold 3,520 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $82.43, for a total value of $290,153.60. Following the completion of the transaction, the chief accounting officer now owns 22,118 shares of the company’s stock, valued at approximately $1,823,186.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,394 shares of company stock valued at $4,206,247. Company insiders own 0.56% of the company’s stock.

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.