Epoch Investment Partners Inc. Has $49.24 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Epoch Investment Partners Inc. reduced its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 3.7% in the 4th quarter, HoldingsChannel reports. The firm owned 573,842 shares of the technology retailer’s stock after selling 21,828 shares during the period. Epoch Investment Partners Inc.’s holdings in Best Buy were worth $49,236,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BBY. Raymond James Financial Inc. bought a new stake in Best Buy during the 4th quarter worth approximately $514,483,000. Norges Bank acquired a new stake in shares of Best Buy in the fourth quarter valued at $178,015,000. Invesco Ltd. raised its holdings in shares of Best Buy by 20.5% in the fourth quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer’s stock valued at $316,784,000 after buying an additional 629,180 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Best Buy by 101.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,114,928 shares of the technology retailer’s stock worth $95,661,000 after acquiring an additional 561,413 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Best Buy by 461.2% in the 4th quarter. Canada Pension Plan Investment Board now owns 621,994 shares of the technology retailer’s stock valued at $53,367,000 after acquiring an additional 511,161 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Matthew M. Bilunas sold 9,482 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $72.65, for a total value of $688,867.30. Following the sale, the chief financial officer now owns 106,856 shares of the company’s stock, valued at $7,763,088.40. The trade was a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Todd G. Hartman sold 4,893 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $355,476.45. Following the transaction, the insider now owns 32,320 shares of the company’s stock, valued at $2,348,048. The trade was a 13.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,355 shares of company stock worth $5,767,213. 0.59% of the stock is owned by corporate insiders.

Best Buy Trading Up 3.9 %

NYSE:BBY opened at $61.97 on Friday. The business’s 50-day simple moving average is $74.93 and its 200-day simple moving average is $84.06. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week 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 stock has a market capitalization of $13.10 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42.

Best Buy (NYSE:BBY) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same quarter in the prior year, the firm earned $2.72 earnings per share. Sell-side analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th were given a dividend of $0.95 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 6.13%. The ex-dividend date was Tuesday, March 25th. Best Buy’s dividend payout ratio is currently 88.99%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BBY shares. Piper Sandler dropped their price objective on shares of Best Buy from $102.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. DA Davidson reiterated a “buy” rating and issued a $110.00 price target on shares of Best Buy in a report on Monday, April 14th. Truist Financial cut their target price on shares of Best Buy from $81.00 to $64.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price target on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group lowered their target price on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $91.28.

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.