Todd Asset Management LLC Increases Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Todd Asset Management LLC grew its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 157.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 475,813 shares of the technology retailer’s stock after purchasing an additional 290,689 shares during the quarter. Todd Asset Management LLC’s holdings in Best Buy were worth $37,247,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC lifted its holdings in Best Buy by 549.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 302 shares in the last quarter. Bfsg LLC purchased a new position in shares of Best Buy during the 4th quarter valued at $25,000. Naples Money Management LLC bought a new position in Best Buy in the 4th quarter worth $27,000. Stonebridge Capital Advisors LLC increased its stake in Best Buy by 81.9% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock worth $29,000 after buying an additional 185 shares in the last quarter. Finally, Hartford Financial Management Inc. raised its holdings in Best Buy by 56.5% during the fourth quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock valued at $30,000 after acquiring an additional 140 shares during the period. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling

In other Best Buy news, CEO Corie S. Barry sold 366 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total value of $27,728.16. Following the sale, the chief executive officer now owns 431,231 shares in the company, valued at approximately $32,670,060.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Corie S. Barry sold 28,042 shares of the company’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 transaction of $2,293,835.60. Following the completion of the transaction, the chief executive officer now directly owns 429,159 shares of the company’s stock, valued at approximately $35,105,206.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Corie S. Barry sold 366 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The disclosure for this sale can be found here. Insiders sold a total of 52,023 shares of company stock valued at $4,253,900 over the last 90 days. Insiders own 0.56% of the company’s stock.

Best Buy Stock Performance

Shares of NYSE:BBY traded up $2.03 on Friday, hitting $74.47. 2,058,529 shares of the company were exchanged, compared to its average volume of 2,576,371. The firm has a market capitalization of $16.11 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.94 and a beta of 1.50. 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 1-year low of $62.30 and a 1-year high of $86.11. The stock’s 50 day moving average price is $77.92 and its 200 day moving average price is $74.23.

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

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders 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 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend was Wednesday, March 20th. Best Buy’s dividend payout ratio is 66.08%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BBY shares. UBS Group increased their target price on Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Barclays boosted their target price on shares of Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Jefferies Financial Group reduced their price target on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Morgan Stanley increased their price objective on shares of Best Buy from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Finally, Truist Financial lifted their target price on Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Best Buy currently has an average rating of “Hold” and an average price target of $84.60.

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.