Dimensional Fund Advisors LP Has $270.91 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Dimensional Fund Advisors LP grew its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,157,432 shares of the technology retailer's stock after purchasing an additional 146,267 shares during the period. Dimensional Fund Advisors LP owned approximately 1.48% of Best Buy worth $270,910,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. IFP Advisors Inc grew its stake in shares of 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 purchasing an additional 125 shares during the period. Mariner LLC increased its holdings in Best Buy by 0.3% during the 4th quarter. Mariner LLC now owns 43,215 shares of the technology retailer's stock valued at $3,708,000 after purchasing an additional 129 shares in the last quarter. Rothschild Investment LLC raised its position in Best Buy by 19.7% in the 4th quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer's stock valued at $74,000 after purchasing an additional 142 shares during the last quarter. Independent Advisor Alliance boosted its stake in 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 purchasing an additional 142 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Best Buy by 0.5% during 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. 80.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. KeyCorp restated a "sector weight" rating on shares of Best Buy in a research note on Wednesday, March 5th. Jefferies Financial Group lowered their target price on Best Buy from $106.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Piper Sandler lowered their target price on Best Buy from $102.00 to $92.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Barclays lowered their target price on Best Buy from $95.00 to $89.00 and set an "equal weight" rating for the company in a research note on Thursday, January 9th. Finally, JPMorgan Chase & Co. lowered their target price on Best Buy from $115.00 to $110.00 and set an "overweight" rating for the company in a research note 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $91.28.

Insider Buying and Selling at Best Buy

In other Best Buy news, insider Todd G. Hartman sold 4,893 shares of the business'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 value of $355,476.45. Following the sale, the insider now owns 32,320 shares in the company, valued at approximately $2,348,048. The trade was a 13.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mathew Watson sold 3,182 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.29, for a total value of $226,844.78. Following the completion of the sale, the chief accounting officer now owns 19,218 shares in the company, valued at $1,370,051.22. The trade was a 14.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,355 shares of company stock worth $5,767,213. Corporate insiders own 0.59% of the company's stock.

Best Buy Stock Up 2.6 %

Shares of NYSE:BBY traded up $1.71 during trading on Friday, hitting $67.71. 5,171,526 shares of the company's stock traded hands, compared to its average volume of 3,311,327. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.71. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The company has a market cap of $14.31 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42. The company has a 50-day moving average price of $72.39 and a 200-day moving average price of $82.78.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data 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. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $13.95 billion for the quarter, compared to analysts' expectations of $13.69 billion. During the same quarter in the previous year, the business posted $2.72 EPS. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The company also recently announced 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 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 annualized dividend and a yield of 5.61%. Best Buy's payout ratio is presently 88.99%.

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.