LSV Asset Management Has $128.07 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

LSV Asset Management trimmed its stake in Best Buy Co., Inc. (NYSE:BBY) by 0.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,636,001 shares of the technology retailer’s stock after selling 7,700 shares during the period. LSV Asset Management owned 0.76% of Best Buy worth $128,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. HS Management Partners LLC acquired a new stake in shares of Best Buy in the 4th quarter valued at $103,854,000. Barclays PLC boosted its stake in shares of Best Buy by 120.3% during the 3rd quarter. Barclays PLC now owns 1,336,071 shares of the technology retailer’s stock worth $92,819,000 after acquiring an additional 729,605 shares during the period. Federated Hermes Inc. raised its holdings in Best Buy by 36.2% in the 3rd quarter. Federated Hermes Inc. now owns 2,586,442 shares of the technology retailer’s stock valued at $179,680,000 after acquiring an additional 687,556 shares during the period. Van Hulzen Asset Management LLC boosted its position in shares of Best Buy by 426.7% in the third quarter. Van Hulzen Asset Management LLC now owns 740,608 shares of the technology retailer’s stock valued at $51,450,000 after acquiring an additional 600,000 shares during the period. Finally, Ceredex Value Advisors LLC increased its stake in Best Buy by 73.1% during the 4th quarter. Ceredex Value Advisors LLC now owns 1,228,980 shares of the technology retailer’s stock worth $97,339,000 after acquiring an additional 518,920 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on BBY. Truist Financial upped their price objective on Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. TheStreet upgraded Best Buy from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. Jefferies Financial Group dropped their price target on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. UBS Group increased their price target on shares of Best Buy from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. upgraded shares of Best Buy from a “neutral” rating to an “overweight” rating and upped their price target for the company from $89.00 to $101.00 in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $84.60.

Best Buy Stock Up 2.8 %

Best Buy stock traded up $2.03 during midday trading on Friday, reaching $74.47. The company’s stock had a trading volume of 2,058,529 shares, compared to its average volume of 2,576,371. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 0.37. The stock’s 50-day simple moving average is $77.95 and its 200-day simple moving average is $74.20. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $86.11. The stock has a market capitalization of $16.11 billion, a P/E ratio of 13.09, a PEG ratio of 1.89 and a beta of 1.50.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.21. The company had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.58 billion. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. Best Buy’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.61 earnings per share. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were paid a dividend of $0.94 per share. The ex-dividend date was Wednesday, March 20th. This is an increase from Best Buy’s previous quarterly dividend of $0.92. This represents a $3.76 dividend on an annualized basis and a yield of 5.05%. Best Buy’s payout ratio is 66.08%.

Insider Activity at Best Buy

In other news, insider Todd G. Hartman sold 3,973 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $324,991.40. Following the sale, the insider now directly owns 25,912 shares of the company’s stock, valued at approximately $2,119,601.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Best Buy news, insider Todd G. Hartman sold 3,973 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $324,991.40. Following the sale, the insider now owns 25,912 shares of the company’s stock, valued at approximately $2,119,601.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mathew Watson sold 3,520 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $82.43, for a total value of $290,153.60. Following the transaction, the chief accounting officer now directly owns 22,118 shares of the company’s stock, valued at $1,823,186.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,023 shares of company stock worth $4,253,900. Insiders own 0.56% of the company’s stock.

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.