TD Asset Management Inc. decreased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY – Get Rating) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,615 shares of the technology retailer’s stock after selling 8,220 shares during the quarter. TD Asset Management Inc.’s holdings in Best Buy were worth $10,121,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Counterpoint Mutual Funds LLC acquired a new position in Best Buy during the fourth quarter valued at approximately $25,000. Stonebridge Capital Advisors LLC lifted its position in shares of Best Buy by 65.4% in the third quarter. Stonebridge Capital Advisors LLC now owns 253 shares of the technology retailer’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Concord Wealth Partners lifted its position in shares of Best Buy by 1,016.0% in the fourth quarter. Concord Wealth Partners now owns 279 shares of the technology retailer’s stock worth $28,000 after purchasing an additional 254 shares in the last quarter. Jacobi Capital Management LLC bought a new stake in shares of Best Buy in the third quarter worth $29,000. Finally, Widmann Financial Services Inc. bought a new stake in Best Buy during the fourth quarter worth $31,000. Institutional investors own 80.79% of the company’s stock.
Shares of Best Buy stock opened at $84.50 on Wednesday. The company has a market cap of $19.01 billion, a PE ratio of 8.59, a P/E/G ratio of 1.02 and a beta of 1.42. The business has a 50 day moving average of $93.86 and a 200 day moving average of $102.08. Best Buy Co., Inc. has a 52 week low of $81.79 and a 52 week high of $141.97. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.40.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 24th were issued a $0.88 dividend. This is an increase from Best Buy’s previous quarterly dividend of $0.70. The ex-dividend date was Wednesday, March 23rd. This represents a $3.52 dividend on an annualized basis and a yield of 4.17%. Best Buy’s dividend payout ratio is currently 35.77%.
BBY has been the topic of several research reports. Raymond James downgraded shares of Best Buy from an “outperform” rating to a “market perform” rating in a report on Friday, March 4th. Bank of America cut their price objective on shares of Best Buy from $175.00 to $147.00 and set a “buy” rating for the company in a research report on Monday, February 28th. Wells Fargo & Company dropped their target price on shares of Best Buy from $110.00 to $90.00 and set a “buy” rating for the company in a report on Monday, February 28th. Truist Financial increased their target price on shares of Best Buy from $108.00 to $117.00 and gave the stock a “hold” rating in a report on Friday, March 4th. Finally, Telsey Advisory Group dropped their price objective on shares of Best Buy from $150.00 to $125.00 and set an “outperform” rating for the company in a report on Monday, February 28th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $115.47.
In other Best Buy news, insider Brian A. Tilzer sold 4,259 shares of the firm’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $99.06, for a total transaction of $421,896.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Todd G. Hartman sold 2,000 shares of Best Buy stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $101.73, for a total value of $203,460.00. The disclosure for this sale can be found here. In the last three months, insiders sold 36,955 shares of company stock worth $3,662,097. 0.36% of the stock is owned by corporate insiders.
Best Buy Company Profile (Get Rating)
Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.
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