23,446 Shares in Best Buy Co., Inc. (NYSE:BBY) Purchased by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. has invested approximately $1.73 million in Best Buy Co., Inc. by acquiring 23,446 shares during the first quarter.
• Best Buy reported $1.15 earnings per share for the last quarter, surpassing analysts' expectations of $1.09, although revenue decreased by 0.9% year-over-year.
• The company's recent quarterly dividend was declared at $0.95 per share, resulting in an annualized yield of 5.5% and reflecting a high dividend payout ratio of 92.91%.

ASR Vermogensbeheer N.V. bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,446 shares of the technology retailer's stock, valued at approximately $1,726,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in shares of Best Buy by 144.0% in the 4th quarter. Wellington Management Group LLP now owns 5,683 shares of the technology retailer's stock valued at $488,000 after purchasing an additional 3,354 shares during the period. ExodusPoint Capital Management LP purchased a new position in shares of Best Buy in the 4th quarter valued at approximately $470,000. Russell Investments Group Ltd. lifted its stake in shares of Best Buy by 0.4% in the 4th quarter. Russell Investments Group Ltd. now owns 168,846 shares of the technology retailer's stock valued at $14,488,000 after purchasing an additional 690 shares during the period. Bank of Nova Scotia lifted its stake in shares of Best Buy by 42.5% in the 4th quarter. Bank of Nova Scotia now owns 180,324 shares of the technology retailer's stock valued at $15,472,000 after purchasing an additional 53,792 shares during the period. Finally, APG Asset Management N.V. purchased a new position in shares of Best Buy in the 4th quarter valued at approximately $9,073,000. Institutional investors own 80.96% of the company's stock.

Best Buy Stock Performance

BBY stock traded up $1.69 during trading on Tuesday, reaching $70.28. The stock had a trading volume of 3,173,639 shares, compared to its average volume of 3,630,756. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.71. The stock's 50 day moving average is $69.16 and its two-hundred day moving average is $72.53. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. The firm has a market cap of $14.85 billion, a PE ratio of 17.18, a PEG ratio of 1.82 and a beta of 1.21.

Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.06. Best Buy had a return on equity of 46.40% and a net margin of 2.13%. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.77 billion. During the same quarter in the prior year, the company earned $1.20 earnings per share. Best Buy's revenue was down .9% on a year-over-year basis. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Wednesday, June 18th. Best Buy's dividend payout ratio is presently 92.91%.

Insider Buying and Selling at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $72.95, for a total value of $53,195,212.95. Following the completion of the transaction, the chairman directly owned 196,100 shares in the company, valued at $14,305,495. This represents a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.59% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Best Buy from $75.00 to $67.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. BNP Paribas raised Best Buy to a "hold" rating in a research note on Friday, May 30th. Truist Financial increased their target price on Best Buy from $64.00 to $69.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Guggenheim reissued a "buy" rating and issued a $90.00 target price on shares of Best Buy in a research note on Tuesday, June 10th. Finally, Loop Capital cut their target price on Best Buy from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $85.72.

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.