Epoch Investment Partners Inc. Sells 21,828 Shares of Best Buy Co., Inc. (NYSE:BBY)

Epoch Investment Partners Inc. cut its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 573,842 shares of the technology retailer's stock after selling 21,828 shares during the period. Epoch Investment Partners Inc. owned approximately 0.27% of Best Buy worth $49,236,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Best Buy

In related news, insider Todd G. Hartman sold 4,893 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $355,476.45. Following the transaction, the insider now directly owns 32,320 shares in the company, valued at approximately $2,348,048. This represents a 13.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kathleen Scarlett sold 6,847 shares of the firm'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 $497,434.55. Following the completion of the sale, the executive vice president now directly owns 87,389 shares of the company's stock, valued at approximately $6,348,810.85. The trade was a 7.27 % 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 over the last quarter. Insiders own 0.59% of the company's stock.

Wall Street Analysts Forecast Growth

BBY has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on Best Buy from $89.00 to $85.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Truist Financial dropped their target price on Best Buy from $81.00 to $64.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Loop Capital reiterated a "negative" rating on shares of Best Buy in a research note on Wednesday, March 5th. Bank of America decreased their price target on shares of Best Buy from $80.00 to $75.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 5th. Finally, Barclays lowered their target price on Best Buy from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $91.28.

Best Buy Price Performance

Best Buy stock traded up $2.13 during mid-day trading on Friday, reaching $68.13. 2,109,453 shares of the company's stock traded hands, compared to its average volume of 3,289,032. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.71. The company has a market cap of $14.40 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 2.10 and a beta of 1.42. The stock has a 50 day moving average of $72.86 and a two-hundred day moving average of $83.20. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating 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 firm had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter last year, the firm earned $2.72 EPS. Equities analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share 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 given a $0.95 dividend. The ex-dividend date was Tuesday, March 25th. This is an increase from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a yield of 5.58%. Best Buy's dividend payout ratio (DPR) is currently 88.99%.

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.