Sava Infond d.o.o. Makes New $232,000 Investment in Best Buy Co., Inc. (NYSE:BBY)

Sava Infond d.o.o. bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, Holdings Channel.com reports. The firm bought 2,700 shares of the technology retailer’s stock, valued at approximately $232,000.

Several other hedge funds also recently made changes to their positions in the business. Daiwa Securities Group Inc. boosted its position in shares of Best Buy by 16.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 24,720 shares of the technology retailer’s stock valued at $2,554,000 after purchasing an additional 3,511 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Best Buy by 5.1% in the third quarter. The Manufacturers Life Insurance Company now owns 152,985 shares of the technology retailer’s stock worth $15,803,000 after buying an additional 7,430 shares during the period. Quantbot Technologies LP purchased a new position in shares of Best Buy in the third quarter worth approximately $1,550,000. Brooklyn Investment Group acquired a new position in Best Buy during the third quarter valued at $44,000. Finally, Avestar Capital LLC purchased a new stake in Best Buy in the 3rd quarter worth about $222,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insiders Place Their Bets

In related news, insider Todd G. Hartman sold 4,893 shares of Best Buy stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $355,476.45. Following the sale, the insider now directly owns 32,320 shares of the company’s stock, valued at $2,348,048. This trade represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Corie S. Barry purchased 13,500 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $72.92 per share, with a total value of $984,420.00. Following the acquisition, the chief executive officer now owns 378,780 shares in the company, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 78,355 shares of company stock worth $5,767,213 in the last ninety days. Insiders own 0.59% of the company’s stock.

Best Buy Trading Up 0.1 %

Shares of NYSE:BBY opened at $74.89 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The stock’s 50-day moving average is $82.70 and its 200-day moving average is $88.48. The company has a market cap of $15.83 billion, a P/E ratio of 12.80, a P/E/G ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter last year, the firm posted $2.72 EPS. Equities research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This is an increase from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a yield of 5.07%. Best Buy’s dividend payout ratio is 88.99%.

Wall Street Analyst Weigh In

Several research firms recently commented on BBY. Citigroup decreased their price target on shares of Best Buy from $105.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Morgan Stanley dropped 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. Piper Sandler reduced their price target on Best Buy from $102.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Loop Capital restated a “negative” rating on shares of Best Buy in a report on Wednesday, March 5th. Finally, Evercore ISI cut their price objective on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating on the stock in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $93.50.

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.