Best Buy Co., Inc. (NYSE:BBY) Position Increased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 33.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 339,859 shares of the technology retailer's stock after acquiring an additional 84,281 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Best Buy worth $25,771,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Best Buy by 549.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer's stock valued at $25,000 after acquiring an additional 302 shares during the last quarter. Bfsg LLC purchased a new stake in Best Buy during the 4th quarter valued at $25,000. Naples Money Management LLC bought a new stake in shares of Best Buy in the fourth quarter worth $27,000. Access Investment Management LLC bought a new stake in shares of Best Buy in the fourth quarter worth $27,000. Finally, Stonebridge Capital Advisors LLC lifted its holdings 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 acquiring an additional 185 shares during the period. Institutional investors own 80.96% of the company's stock.

Insiders Place Their Bets

In other news, CEO Corie S. Barry sold 28,042 shares of the firm's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $2,293,835.60. Following the transaction, the chief executive officer now owns 429,159 shares in the company, valued at $35,105,206.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Best Buy news, CEO Corie S. Barry sold 28,042 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $2,293,835.60. Following the completion of the sale, the chief executive officer now owns 429,159 shares in the company, valued at approximately $35,105,206.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Corie S. Barry sold 366 shares of the company's stock in a transaction that occurred on 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 owns 431,231 shares of the company's stock, valued at $32,670,060.56. The disclosure for this sale can be found here. In the last three months, insiders sold 52,023 shares of company stock worth $4,253,900. Corporate insiders own 0.59% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on BBY shares. Truist Financial upped their price target on shares of Best Buy from $68.00 to $87.00 and gave the company a "hold" rating in a research report on Friday, March 1st. Wedbush upped their price objective on Best Buy from $75.00 to $85.00 and gave the stock a "neutral" rating in a research note on Friday, March 1st. Citigroup reduced their price target on Best Buy from $76.00 to $67.00 and set a "sell" rating for the company in a research report on Tuesday, May 7th. Barclays increased their price objective on shares of Best Buy from $69.00 to $88.00 and gave the stock an "equal weight" rating in a research note on Friday, March 1st. Finally, UBS Group increased their price target on Best Buy from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Best Buy currently has an average rating of "Hold" and an average target price of $84.00.

Best Buy Stock Performance

Shares of NYSE:BBY traded down $0.29 during trading on Friday, hitting $73.35. 1,603,025 shares of the stock traded hands, compared to its average volume of 2,839,339. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $86.11. The company has a quick ratio of 0.37, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average price of $77.11 and a two-hundred day moving average price of $74.58. The company has a market cap of $15.87 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.91 and a beta of 1.50.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, beating the consensus estimate of $2.51 by $0.21. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.58 billion. During the same period last year, the company earned $2.61 earnings per share. Best Buy's quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 5.13%. This is a boost from Best Buy's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, March 20th. Best Buy's payout ratio is presently 66.08%.

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.