National Bank of Canada FI Sells 29,304 Shares of Best Buy Co., Inc. (NYSE:BBY)

National Bank of Canada FI reduced its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 37.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,480 shares of the technology retailer's stock after selling 29,304 shares during the quarter. National Bank of Canada FI's holdings in Best Buy were worth $3,745,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BBY. Bfsg LLC acquired a new stake in Best Buy in the fourth quarter valued at about $25,000. Naples Money Management LLC acquired a new stake in Best Buy in the fourth quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC boosted its stake in Best Buy by 549.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer's stock valued at $25,000 after buying an additional 302 shares in the last quarter. Hartford Financial Management Inc. boosted its stake in Best Buy by 56.5% in the fourth quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer's stock valued at $30,000 after buying an additional 140 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its stake in Best Buy by 81.9% in the third quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer's stock valued at $29,000 after buying an additional 185 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Best Buy

In related news, CEO Corie S. Barry sold 366 shares of Best Buy stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the transaction, the chief executive officer now owns 431,231 shares of the company's stock, valued at $32,670,060.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Mathew Watson sold 3,520 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $82.43, for a total transaction of $290,153.60. Following the sale, the chief accounting officer now owns 22,118 shares of the company's stock, valued at approximately $1,823,186.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Corie S. Barry sold 366 shares of the firm's stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total value of $27,728.16. Following the completion of the sale, the chief executive officer now directly owns 431,231 shares in the company, valued at approximately $32,670,060.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,023 shares of company stock valued at $4,253,900. Company insiders own 0.59% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on BBY shares. Barclays raised their price objective on Best Buy from $69.00 to $88.00 and gave the company an "equal weight" rating in a research note on Friday, March 1st. TheStreet upgraded Best Buy from a "c" rating to a "b-" rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. upgraded Best Buy from a "neutral" rating to an "overweight" rating and increased their target price for the company from $89.00 to $101.00 in a research report on Friday, March 22nd. Truist Financial increased their target price on Best Buy from $68.00 to $87.00 and gave the company a "hold" rating in a research report on Friday, March 1st. Finally, The Goldman Sachs Group increased their target price on Best Buy from $81.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Best Buy presently has an average rating of "Hold" and a consensus price target of $84.00.

Best Buy Trading Up 0.7 %

BBY stock traded up $0.53 during mid-day trading on Monday, reaching $74.70. The company's stock had a trading volume of 2,107,831 shares, compared to its average volume of 2,868,568. The company has a market cap of $16.16 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.94 and a beta of 1.50. The business's 50 day moving average price is $77.42 and its 200 day moving average price is $74.47. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $86.11.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.51 by $0.21. The business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.58 billion. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.61 earnings per share. On average, equities research analysts predict that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were issued a $0.94 dividend. This is an increase from Best Buy's previous quarterly dividend of $0.92. This represents a $3.76 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date was Wednesday, March 20th. Best Buy's payout ratio is presently 66.08%.

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.