Mizuho Securities USA LLC Has $1.59 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Mizuho Securities USA LLC raised its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 45.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,519 shares of the technology retailer’s stock after purchasing an additional 5,790 shares during the period. Mizuho Securities USA LLC’s holdings in Best Buy were worth $1,589,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in shares of Best Buy by 5.2% during the 4th quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock worth $218,000 after buying an additional 125 shares in the last quarter. Rothschild Investment LLC raised its stake in Best Buy by 19.7% during the fourth quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer’s stock worth $74,000 after acquiring an additional 142 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of Best Buy by 5.0% in the fourth quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer’s stock worth $258,000 after acquiring an additional 142 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Best Buy by 0.5% in the 4th quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock valued at $2,566,000 after purchasing an additional 145 shares in the last quarter. Finally, Claro Advisors LLC grew its holdings in shares of Best Buy by 5.7% during the 4th quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock valued at $246,000 after purchasing an additional 154 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BBY has been the topic of a number of research reports. Bank of America decreased their target price on shares of Best Buy from $80.00 to $75.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 5th. Evercore ISI reduced their price objective on 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. Guggenheim lowered their target price on Best Buy from $105.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Piper Sandler cut their price target on Best Buy from $102.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company dropped their price objective on shares of Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Best Buy has an average rating of “Hold” and an average price target of $93.50.

Best Buy Trading Down 1.4 %

Shares of BBY stock opened at $74.63 on Wednesday. The stock has a 50 day simple moving average of $83.01 and a two-hundred day simple moving average of $88.68. The company has a market cap of $15.77 billion, a P/E ratio of 12.76, a PEG ratio of 2.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last announced 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. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the prior year, the company earned $2.72 earnings per share. Research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Tuesday, March 25th. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s payout ratio is 88.99%.

Insiders Place Their Bets

In related news, CEO Corie S. Barry purchased 13,500 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the purchase, the chief executive officer now owns 378,780 shares of the company’s stock, valued at approximately $27,620,637.60. This trade represents a 3.70 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mathew Watson sold 3,182 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.29, for a total value of $226,844.78. Following the completion of the sale, the chief accounting officer now directly owns 19,218 shares of the company’s stock, valued at approximately $1,370,051.22. This trade represents a 14.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company’s stock.

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.