Universal Beteiligungs und Servicegesellschaft mbH Makes New $29.09 Million Investment in Best Buy Co., Inc. (NYSE:BBY)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 339,041 shares of the technology retailer's stock, valued at approximately $29,090,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.16% of Best Buy as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. grew its stake in Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock valued at $29,000 after purchasing an additional 311 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new stake in Best Buy during the 4th quarter valued at about $31,000. Golden State Wealth Management LLC purchased a new stake in Best Buy during the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. lifted its holdings in shares of Best Buy by 186.9% in the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock valued at $32,000 after buying an additional 243 shares during the period. Finally, Ancora Advisors LLC lifted its holdings in shares of Best Buy by 18,700.0% in the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock valued at $32,000 after buying an additional 374 shares during the period. Hedge funds and other institutional investors own 80.96% of the company's stock.

Insider Activity at Best Buy

In other news, CAO Mathew Watson sold 2,951 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $214,390.15. Following the completion of the sale, the chief accounting officer now directly owns 21,371 shares of the company's stock, valued at $1,552,603.15. The trade was a 12.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew M. Bilunas sold 51,000 shares of the business's stock in a transaction 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 owns 55,856 shares in the company, valued at $4,144,515.20. This 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 90 days. Company insiders own 0.47% of the company's stock.

Best Buy Trading Down 0.1%

NYSE:BBY traded down $0.07 during trading hours on Friday, reaching $66.25. 6,438,698 shares of the stock were exchanged, compared to its average volume of 3,372,093. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average of $67.25 and a two-hundred day moving average of $78.93. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $103.71. The company has a market capitalization of $14.02 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 2.10 and a beta of 1.27.

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

Best Buy Announces Dividend

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

Analyst Upgrades and Downgrades

BBY has been the subject of several analyst reports. Piper Sandler decreased their price objective on Best Buy from $92.00 to $82.00 and set an "overweight" 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. Evercore ISI decreased their price objective on Best Buy from $95.00 to $80.00 and set an "in-line" rating for the company in a report on Wednesday, March 5th. Bank of America decreased their price objective on Best Buy from $80.00 to $75.00 and set an "underperform" rating for the company in a report on Wednesday, March 5th. Finally, Truist Financial boosted their price objective on Best Buy from $64.00 to $69.00 and gave the company a "hold" rating in a report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Best Buy presently has a consensus rating of "Hold" and an average target price of $86.11.

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.