TD Waterhouse Canada Inc. Has $79,000 Stock Position in Best Buy Co., Inc. (NYSE:BBY)

TD Waterhouse Canada Inc. boosted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 130.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 921 shares of the technology retailer’s stock after acquiring an additional 522 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Best Buy were worth $79,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in shares of Best Buy by 5.2% during the fourth quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock valued at $218,000 after buying an additional 125 shares during the last quarter. Mariner LLC boosted its holdings in Best Buy by 0.3% during the 4th quarter. Mariner LLC now owns 43,215 shares of the technology retailer’s stock worth $3,708,000 after acquiring an additional 129 shares during the last quarter. Rothschild Investment LLC grew its stake in shares of Best Buy by 19.7% in the 4th quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer’s stock worth $74,000 after acquiring an additional 142 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of Best Buy by 5.0% in the fourth quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer’s stock valued at $258,000 after purchasing an additional 142 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of Best Buy by 0.5% during the fourth quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock valued at $2,566,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Up 2.6 %

BBY stock opened at $67.71 on Monday. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $103.71. The firm has a market capitalization of $14.31 billion, a PE ratio of 11.57, a PEG ratio of 2.10 and a beta of 1.42. 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 50-day simple moving average of $72.39 and a two-hundred day simple moving average of $82.78.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping 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 analyst estimates of $13.69 billion. During the same quarter in the prior year, the firm posted $2.72 EPS. On average, equities analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.61%. This is a boost from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date was Tuesday, March 25th. Best Buy’s payout ratio is presently 88.99%.

Insiders Place Their Bets

In related news, CAO Mathew Watson sold 3,182 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.29, for a total value of $226,844.78. Following the sale, the chief accounting officer now directly owns 19,218 shares of the company’s stock, valued at $1,370,051.22. This trade represents a 14.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Todd G. Hartman sold 4,893 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $355,476.45. Following the completion of the transaction, the insider now directly owns 32,320 shares of the company’s stock, valued at approximately $2,348,048. This represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,355 shares of company stock worth $5,767,213 in the last ninety days. 0.59% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial reduced their price objective on shares of Best Buy from $81.00 to $64.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price target on Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Citigroup reissued a “neutral” rating and issued a $70.00 price objective (down previously from $93.00) on shares of Best Buy in a research report on Thursday, April 3rd. Wells Fargo & Company decreased their target price on Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Finally, Piper Sandler cut their price target on shares of Best Buy from $102.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Best Buy currently has a consensus rating of “Hold” and an average price target of $91.28.

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.