6,188 Shares in Best Buy Co., Inc. (NYSE:BBY) Purchased by Saxon Interests Inc.

Saxon Interests Inc. acquired a new position in Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,188 shares of the technology retailer’s stock, valued at approximately $484,000.

Other institutional investors have also bought and sold shares of the company. Mirabella Financial Services LLP acquired a new position in Best Buy in the third quarter worth approximately $831,000. Van ECK Associates Corp increased its holdings in Best Buy by 35.6% in the third quarter. Van ECK Associates Corp now owns 94,282 shares of the technology retailer’s stock worth $6,550,000 after buying an additional 24,763 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its position in Best Buy by 1,405.3% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 214,232 shares of the technology retailer’s stock worth $14,883,000 after purchasing an additional 200,000 shares during the period. Klein Pavlis & Peasley Financial Inc. bought a new stake in Best Buy during the fourth quarter worth approximately $1,589,000. Finally, Banco Santander S.A. bought a new stake in Best Buy during the third quarter worth approximately $3,885,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

Best Buy stock traded up $0.16 during mid-day trading on Friday, hitting $82.03. 2,571,276 shares of the company were exchanged, compared to its average volume of 4,142,347. 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 business has a fifty day moving average of $76.22 and a 200 day moving average of $72.91. Best Buy Co., Inc. has a 1-year low of $62.30 and a 1-year high of $86.11. The company has a market capitalization of $17.67 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 2.13 and a beta of 1.49.

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

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st will be paid a $0.94 dividend. The ex-dividend date is Wednesday, March 20th. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.58%. Best Buy’s dividend payout ratio (DPR) is 66.08%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup upped their target price on Best Buy from $67.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. TheStreet raised Best Buy from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. Wedbush increased their price objective on Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Jefferies Financial Group raised Best Buy from a “hold” rating to a “buy” rating and increased their price objective for the company from $69.00 to $89.00 in a research report on Monday, December 11th. Finally, Truist Financial raised their target price on Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $84.27.

Insider Activity

In other news, CAO Mathew Watson sold 2,505 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $204,909.00. Following the completion of the sale, the chief accounting officer now directly owns 25,638 shares in the company, valued at $2,097,188.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Corie S. Barry sold 28,042 shares of Best Buy stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $2,293,835.60. Following the completion of the sale, the chief executive officer now directly owns 429,159 shares in the company, valued at $35,105,206.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mathew Watson sold 2,505 shares of Best Buy stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $204,909.00. Following the completion of the sale, the chief accounting officer now owns 25,638 shares of the company’s stock, valued at $2,097,188.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,874 shares of company stock worth $3,916,093. 0.56% of the stock is owned by corporate insiders.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States and Canada. The company operates in two segments, Domestic 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.