Banco Bilbao Vizcaya Argentaria S.A. Takes Position in Best Buy Co., Inc. (NYSE:BBY)

Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) during the 4th quarter, Holdings Channel.com reports. The fund acquired 90,239 shares of the technology retailer’s stock, valued at approximately $7,741,000.

Several other large investors also recently bought and sold shares of the business. World Investment Advisors LLC bought a new stake in shares of Best Buy in the third quarter worth approximately $5,234,000. Wilmington Savings Fund Society FSB purchased a new stake in Best Buy in the third quarter worth approximately $247,000. Tidal Investments LLC grew its position in Best Buy by 24.5% in the 3rd quarter. Tidal Investments LLC now owns 22,210 shares of the technology retailer’s stock worth $2,294,000 after purchasing an additional 4,370 shares during the period. Franklin Resources Inc. raised its stake in Best Buy by 36.5% during the 3rd quarter. Franklin Resources Inc. now owns 753,471 shares of the technology retailer’s stock valued at $73,016,000 after buying an additional 201,562 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Best Buy by 0.7% during the 3rd quarter. Retirement Systems of Alabama now owns 42,782 shares of the technology retailer’s stock valued at $4,419,000 after buying an additional 306 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Jefferies Financial Group cut their price objective on Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Evercore ISI cut their price target on Best Buy from $95.00 to $80.00 and set an “in-line” rating for the company in a research note on Wednesday, March 5th. Citigroup reiterated a “neutral” rating and issued a $70.00 price objective (down previously from $93.00) on shares of Best Buy in a research note on Thursday, April 3rd. Guggenheim dropped their price objective on shares of Best Buy from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $91.28.

Best Buy Stock Performance

NYSE BBY opened at $65.97 on Friday. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $103.71. The business has a 50-day moving average price of $72.86 and a 200-day moving average price of $83.20. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.18. The business had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period in the prior year, the company posted $2.72 EPS. As a group, equities research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were issued a $0.95 dividend. 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 5.76%. The ex-dividend date of this dividend was Tuesday, March 25th. Best Buy’s payout ratio is currently 88.99%.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 3,182 shares of Best Buy 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 sale, the chief accounting officer now owns 19,218 shares of the company’s stock, valued at $1,370,051.22. The trade was a 14.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Corie S. Barry acquired 13,500 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the acquisition, the chief executive officer now directly 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 a total of 78,355 shares of company stock worth $5,767,213 in the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

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.