Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Axa S.A.

AXA S.A. boosted its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 111.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,868 shares of the technology retailer's stock after acquiring an additional 35,215 shares during the period. AXA S.A.'s holdings in Best Buy were worth $5,737,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Rakuten Securities Inc. raised its holdings in shares of Best Buy by 971.9% during the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock valued at $29,000 after purchasing an additional 311 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Best Buy during the fourth quarter valued at approximately $32,000. Atlas Capital Advisors Inc. raised its position in Best Buy by 186.9% in the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock worth $32,000 after acquiring an additional 243 shares during the period. OFI Invest Asset Management purchased a new stake in Best Buy in the fourth quarter worth $34,000. Finally, Trust Co. of Vermont increased its holdings in Best Buy by 1,200.0% in the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer's stock worth $36,000 after acquiring an additional 384 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Stock Performance

Shares of BBY traded up $3.82 during trading hours on Monday, hitting $72.67. The stock had a trading volume of 1,751,869 shares, compared to its average volume of 3,331,002. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The firm has a market capitalization of $15.38 billion, a PE ratio of 12.47, a PEG ratio of 2.10 and a beta of 1.27. The stock has a fifty day moving average price of $68.31 and a 200 day moving average price of $80.82. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating the consensus estimate of $2.40 by $0.18. The business had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period in the previous year, the business earned $2.72 earnings per share. Analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were paid a $0.95 dividend. This is an increase from Best Buy's previous quarterly dividend of $0.94. The ex-dividend date was Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a yield of 5.23%. Best Buy's payout ratio is presently 88.99%.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 2,951 shares of the firm'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 $214,390.15. Following the completion of the sale, the chief accounting officer now directly owns 21,371 shares of the company's stock, valued at approximately $1,552,603.15. This trade represents a 12.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Corie S. Barry acquired 13,500 shares of the stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $72.92 per share, with a total value of $984,420.00. Following the completion of the transaction, the chief executive officer now owns 378,780 shares in the company, valued at $27,620,637.60. This trade represents a 3.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 78,355 shares of company stock valued at $5,767,213 in the last ninety days. Corporate insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on BBY shares. Jefferies Financial Group decreased their target price on shares of Best Buy from $106.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Citigroup reaffirmed a "neutral" rating and set a $70.00 target price (down previously from $93.00) on shares of Best Buy in a report on Thursday, April 3rd. Truist Financial dropped their price objective on Best Buy from $81.00 to $64.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Loop Capital reiterated a "negative" rating on shares of Best Buy in a report on Wednesday, March 5th. Finally, Evercore ISI decreased their target price on Best Buy from $95.00 to $80.00 and set an "in-line" rating for the company in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $91.28.

Best Buy Company 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.