Oxford Asset Management LLP Makes New $449,000 Investment in Best Buy Co., Inc. (NYSE:BBY)

Oxford Asset Management LLP purchased a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,228 shares of the technology retailer's stock, valued at approximately $449,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Best Buy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer's stock worth $1,971,908,000 after purchasing an additional 191,161 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Best Buy by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,560,368 shares of the technology retailer's stock worth $562,880,000 after acquiring an additional 395,415 shares during the period. Raymond James Financial Inc. acquired a new stake in Best Buy during the 4th quarter worth about $514,483,000. Geode Capital Management LLC boosted its position in Best Buy by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 5,092,820 shares of the technology retailer's stock worth $436,210,000 after acquiring an additional 239,840 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Best Buy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer's stock worth $328,136,000 after acquiring an additional 459,353 shares during the period. Hedge funds and other institutional investors own 80.96% of the company's stock.

Insider Transactions at Best Buy

In other news, insider Todd G. Hartman sold 4,893 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $355,476.45. Following the completion of the transaction, the insider now directly owns 32,320 shares of the company's stock, valued at approximately $2,348,048. This trade represents a 13.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kathleen Scarlett sold 6,847 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $497,434.55. Following the transaction, the executive vice president now directly owns 87,389 shares of the company's stock, valued at $6,348,810.85. The trade was a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 78,355 shares of company stock valued at $5,767,213. Company insiders own 0.59% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on BBY shares. KeyCorp restated a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 5th. DA Davidson restated a "buy" rating and set a $110.00 price objective on shares of Best Buy in a research report on Monday, April 14th. Bank of America reduced their price target on Best Buy from $80.00 to $75.00 and set an "underperform" rating for the company in a report on Wednesday, March 5th. Truist Financial reduced their price target on Best Buy from $81.00 to $64.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Finally, Loop Capital reiterated a "negative" rating on shares of Best Buy in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $91.28.

Best Buy Stock Performance

NYSE BBY traded up $0.05 during midday trading on Wednesday, hitting $66.73. The company had a trading volume of 3,534,438 shares, compared to its average volume of 3,314,721. 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 stock has a market cap of $14.10 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 2.10 and a beta of 1.42. The firm has a fifty day simple moving average of $71.44 and a two-hundred day simple moving average of $82.46. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.18. The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same period last year, the business posted $2.72 EPS. Equities analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 5.69%. This is a positive change from Best Buy's previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Tuesday, March 25th. Best Buy's dividend payout ratio (DPR) is currently 88.99%.

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.