Vontobel Holding Ltd. Has $3.48 Million Stake in Best Buy Co., Inc. (NYSE:BBY)

Vontobel Holding Ltd. grew its holdings in Best Buy Co., Inc. (NYSE:BBY) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,503 shares of the technology retailer’s stock after purchasing an additional 346 shares during the period. Vontobel Holding Ltd.’s holdings in Best Buy were worth $3,475,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. QRG Capital Management Inc. increased its holdings in shares of Best Buy by 10.5% in the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock valued at $3,279,000 after purchasing an additional 3,025 shares during the period. Asset Management One Co. Ltd. increased its holdings in Best Buy by 27.4% in the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after buying an additional 19,405 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Best Buy by 13.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock worth $15,806,000 after buying an additional 18,171 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. increased its holdings in Best Buy by 48.6% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 26,400 shares of the technology retailer’s stock worth $2,265,000 after buying an additional 8,640 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in Best Buy in the fourth quarter worth approximately $453,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Up 2.2 %

BBY opened at $91.16 on Monday. The stock has a market capitalization of $19.49 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 2.01 and a beta of 1.43. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The business has a 50 day moving average of $85.76 and a 200-day moving average of $90.10. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.04). The firm had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the business earned $1.29 earnings per share. As a group, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were given a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.12%. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

Insider Buying and Selling

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.59% of the stock is owned by company insiders.

Analyst Ratings Changes

BBY has been the topic of a number of research reports. Morgan Stanley dropped their price objective on Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. UBS Group dropped their price objective on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Truist Financial dropped their price objective on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Guggenheim dropped their price objective on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Finally, Telsey Advisory Group decreased their target price on Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Best Buy currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

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.