DSG Capital Advisors LLC Acquires New Stake in Best Buy Co., Inc. (NYSE:BBY)

DSG Capital Advisors LLC acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 32,364 shares of the technology retailer's stock, valued at approximately $2,777,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings 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 acquiring an additional 191,161 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Best Buy by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,560,368 shares of the technology retailer's stock valued at $562,880,000 after acquiring an additional 395,415 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Best Buy in the fourth quarter valued at about $514,483,000. Geode Capital Management LLC raised its holdings in shares of Best Buy by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 5,092,820 shares of the technology retailer's stock valued at $436,210,000 after acquiring an additional 239,840 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Best Buy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer's stock valued at $328,136,000 after acquiring an additional 459,353 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Best Buy

In other news, CFO Matthew M. Bilunas sold 51,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was 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 directly owns 55,856 shares of the company's stock, valued at $4,144,515.20. This represents a 47.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Corie S. Barry bought 13,500 shares of Best Buy stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $72.92 per share, with a total value of $984,420.00. Following the completion of the purchase, the chief executive officer now owns 378,780 shares in the company, valued at approximately $27,620,637.60. This trade represents a 3.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 78,355 shares of company stock worth $5,767,213 over the last quarter. Insiders own 0.47% of the company's stock.

Best Buy Stock Down 0.1%

Shares of BBY stock traded down $0.07 during trading hours on Friday, reaching $66.25. 6,438,698 shares of the company's stock were exchanged, compared to its average volume of 3,372,093. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $103.71. The stock has a market cap of $14.02 billion, a PE ratio of 11.32, a PEG ratio of 2.10 and a beta of 1.27. 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 stock's fifty day moving average price is $67.42 and its two-hundred day moving average price is $79.09.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.06. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.77 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The company's revenue was down .9% on a year-over-year basis. Research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 19th will be given a $0.95 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.74%. Best Buy's dividend payout ratio is currently 88.99%.

Analysts Set New Price Targets

Several research firms recently weighed in on BBY. Truist Financial lifted their price objective on Best Buy from $64.00 to $69.00 and gave the company a "hold" rating in a report on Friday. Telsey Advisory Group restated an "outperform" rating and issued a $90.00 price objective on shares of Best Buy in a report on Friday. UBS Group decreased their price objective on Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday. Loop Capital decreased their price objective on Best Buy from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday. Finally, Citigroup reiterated a "neutral" rating and issued a $70.00 target price (down from $93.00) on shares of Best Buy in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Best Buy presently has a consensus rating of "Hold" and an average target price of $86.11.

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.