Banco Bilbao Vizcaya Argentaria S.A. Buys New Position in Best Buy Co., Inc. (NYSE:BBY)

Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 90,239 shares of the technology retailer's stock, valued at approximately $7,741,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Stevens Capital Management LP boosted its position in Best Buy by 228.7% during the fourth quarter. Stevens Capital Management LP now owns 22,625 shares of the technology retailer's stock valued at $1,941,000 after purchasing an additional 15,741 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Best Buy by 20.5% in the 4th quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer's stock valued at $316,784,000 after buying an additional 629,180 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Best Buy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer's stock valued at $1,971,908,000 after buying an additional 191,161 shares in the last quarter. Pinnacle Financial Partners Inc acquired a new position in Best Buy during the fourth quarter worth $3,293,000. Finally, APG Asset Management N.V. bought a new stake in Best Buy during the fourth quarter worth $9,073,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Insider Buying and Selling

In other news, insider Todd G. Hartman sold 4,893 shares of the business's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $355,476.45. Following the sale, the insider now directly owns 32,320 shares in the company, valued at approximately $2,348,048. The trade was a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matthew M. Bilunas sold 51,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $74.20, for a total transaction of $3,784,200.00. Following the completion of the transaction, the chief financial officer now owns 55,856 shares of the company's stock, valued at approximately $4,144,515.20. This trade represents a 47.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,355 shares of company stock worth $5,767,213 in the last three months. 0.59% of the stock is owned by corporate insiders.

Best Buy Price Performance

Shares of NYSE BBY traded down $1.54 during trading hours on Wednesday, hitting $65.14. 807,227 shares of the stock were exchanged, compared to its average volume of 3,304,444. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.71. The company has a market cap of $13.77 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The company's fifty day simple moving average is $71.44 and its two-hundred day simple moving average is $82.46.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.18. The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same quarter last year, the company posted $2.72 EPS. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This is a positive change from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.83%. Best Buy's payout ratio is 88.99%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BBY. Guggenheim decreased their target price on Best Buy from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Loop Capital reiterated a "negative" rating on shares of Best Buy in a report on Wednesday, March 5th. DA Davidson restated a "buy" rating and set a $110.00 target price on shares of Best Buy in a research note on Monday, April 14th. UBS Group set a $105.00 price target on shares of Best Buy in a research note on Wednesday, March 5th. Finally, Bank of America cut their price objective on shares of Best Buy from $80.00 to $75.00 and set an "underperform" 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 assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.