J. Safra Sarasin Holding AG Has $3.83 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

J. Safra Sarasin Holding AG increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 661.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 44,678 shares of the technology retailer's stock after acquiring an additional 38,810 shares during the period. J. Safra Sarasin Holding AG's holdings in Best Buy were worth $3,833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. TD Waterhouse Canada Inc. lifted its position in Best Buy by 130.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 921 shares of the technology retailer's stock worth $79,000 after acquiring an additional 522 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Best Buy by 706.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 33,214 shares of the technology retailer's stock worth $2,850,000 after acquiring an additional 29,097 shares in the last quarter. Tradition Wealth Management LLC increased its holdings in Best Buy by 13.5% during the 4th quarter. Tradition Wealth Management LLC now owns 3,196 shares of the technology retailer's stock worth $274,000 after purchasing an additional 379 shares during the last quarter. MML Investors Services LLC increased its holdings in Best Buy by 2.7% during the 4th quarter. MML Investors Services LLC now owns 15,169 shares of the technology retailer's stock worth $1,301,000 after purchasing an additional 400 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Best Buy by 1.3% during the 4th quarter. MetLife Investment Management LLC now owns 52,069 shares of the technology retailer's stock worth $4,468,000 after purchasing an additional 693 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Corie S. Barry bought 13,500 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the purchase, the chief executive officer now owns 378,780 shares of the company's stock, valued at approximately $27,620,637.60. The trade was a 3.70 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew M. Bilunas sold 51,000 shares of Best Buy 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 $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 over the last quarter. Company insiders own 0.59% of the company's stock.

Best Buy Stock Performance

Shares of NYSE BBY traded up $1.71 during mid-day trading on Friday, hitting $67.71. The company had a trading volume of 5,171,526 shares, compared to its average volume of 3,311,327. 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 business's 50-day simple moving average is $72.39 and its 200-day simple moving average is $82.78. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $103.71. The firm has a market cap of $14.31 billion, a P/E ratio of 11.57, a PEG ratio of 2.10 and a beta of 1.42.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.18. The business had revenue of $13.95 billion during the quarter, compared to analysts' expectations of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same quarter last year, the company earned $2.72 earnings per share. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were paid a dividend of $0.95 per share. This is a boost from Best Buy's previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a yield of 5.61%. Best Buy's dividend payout ratio (DPR) is currently 88.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. KeyCorp restated a "sector weight" rating on shares of Best Buy in a report on Wednesday, March 5th. Loop Capital restated a "negative" rating on shares of Best Buy in a report on Wednesday, March 5th. UBS Group set a $105.00 price objective on Best Buy in a report on Wednesday, March 5th. Citigroup restated a "neutral" rating and set a $70.00 price objective (down from $93.00) on shares of Best Buy in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Best Buy from $115.00 to $110.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $91.28.

About Best Buy

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.