Czech National Bank Buys 2,309 Shares of Best Buy Co., Inc. (NYSE:BBY)

Czech National Bank lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.4% in the first quarter, Holdings Channel.com reports. The fund owned 44,676 shares of the technology retailer’s stock after acquiring an additional 2,309 shares during the quarter. Czech National Bank’s holdings in Best Buy were worth $3,289,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BBY. Tokio Marine Asset Management Co. Ltd. lifted its stake in Best Buy by 4.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,685 shares of the technology retailer’s stock valued at $574,000 after buying an additional 305 shares during the period. E. Ohman J or Asset Management AB lifted its stake in Best Buy by 26.9% in the fourth quarter. E. Ohman J or Asset Management AB now owns 9,442 shares of the technology retailer’s stock valued at $810,000 after buying an additional 2,000 shares during the period. Yousif Capital Management LLC lifted its stake in Best Buy by 0.5% in the fourth quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock valued at $2,566,000 after buying an additional 145 shares during the period. Stratos Wealth Partners LTD. lifted its stake in Best Buy by 17.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,946 shares of the technology retailer’s stock valued at $253,000 after buying an additional 435 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Best Buy by 21.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 187,582 shares of the technology retailer’s stock valued at $16,456,000 after buying an additional 33,018 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Mathew Watson sold 2,951 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $214,390.15. Following the sale, the chief accounting officer now owns 21,371 shares of the company’s stock, valued at approximately $1,552,603.15. This represents a 12.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Matthew M. Bilunas sold 51,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $74.20, for a total value of $3,784,200.00. Following the completion of the sale, the chief financial officer now directly owns 55,856 shares in the company, valued at approximately $4,144,515.20. The trade was a 47.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,355 shares of company stock valued at $5,767,213. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BBY shares. Bank of America lowered their target price on Best Buy from $80.00 to $75.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. Guggenheim reaffirmed a “buy” rating and set a $90.00 target price on shares of Best Buy in a research report on Friday, May 30th. Truist Financial upped their target price on Best Buy from $64.00 to $69.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Morgan Stanley lowered their target price on Best Buy from $100.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Finally, Barclays lowered their target price on Best Buy from $89.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Best Buy currently has an average rating of “Hold” and a consensus price target of $86.11.

Best Buy Stock Down 0.2%

Shares of NYSE BBY opened at $69.67 on Thursday. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The business’s fifty day moving average price is $66.96 and its 200-day moving average price is $78.47. The stock has a market capitalization of $14.75 billion, a PE ratio of 11.91, a P/E/G ratio of 2.10 and a beta of 1.25.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.06. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.77 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.45%. Best Buy’s dividend payout ratio (DPR) is 92.91%.

About Best Buy

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.