Thompson Siegel & Walmsley LLC Has $7.76 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Thompson Siegel & Walmsley LLC boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 136.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,100 shares of the technology retailer’s stock after buying an additional 53,200 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Best Buy were worth $7,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of BBY. Raymond James & Associates increased its holdings in shares of Best Buy by 17.0% in the 2nd quarter. Raymond James & Associates now owns 3,377,763 shares of the technology retailer’s stock valued at $284,712,000 after purchasing an additional 490,801 shares during the period. Bank of New York Mellon Corp grew its position in Best Buy by 55.7% during the second quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer’s stock valued at $241,347,000 after purchasing an additional 1,024,824 shares in the last quarter. Norges Bank acquired a new position in Best Buy in the 4th quarter valued at approximately $165,164,000. Ninety One UK Ltd purchased a new stake in Best Buy in the 2nd quarter worth approximately $121,325,000. Finally, First Trust Advisors LP boosted its stake in shares of Best Buy by 19.5% during the 4th quarter. First Trust Advisors LP now owns 989,173 shares of the technology retailer’s stock valued at $77,432,000 after buying an additional 161,680 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Stock Up 0.7 %

Shares of NYSE:BBY opened at $98.45 on Monday. The company has a market capitalization of $21.24 billion, a PE ratio of 17.24, a P/E/G ratio of 2.56 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. The company’s fifty day moving average is $88.88 and its 200-day moving average is $82.82. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $103.71.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating the consensus estimate of $1.16 by $0.18. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the firm earned $1.22 EPS. Equities research analysts predict that Best Buy Co., Inc. will post 6.26 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is 65.85%.

Insider Buying and Selling

In other news, Chairman Richard M. Schulze sold 691,328 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $88.46, for a total value of $61,154,874.88. Following the transaction, the chairman now owns 14,911,525 shares of the company’s stock, valued at approximately $1,319,073,501.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Richard M. Schulze sold 691,328 shares of Best Buy stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the transaction, the chairman now directly owns 14,911,525 shares of the company’s stock, valued at $1,319,073,501.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 600,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $88.29, for a total transaction of $52,974,000.00. Following the completion of the sale, the chairman now owns 14,002,853 shares of the company’s stock, valued at approximately $1,236,311,891.37. The disclosure for this sale can be found here. Insiders sold a total of 1,383,370 shares of company stock valued at $122,233,276 over the last ninety days. Insiders own 0.59% of the company’s stock.

Analyst Upgrades and Downgrades

BBY has been the topic of a number of research reports. Loop Capital upped their price target on shares of Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Truist Financial raised their price target on Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. BNP Paribas raised Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. Evercore ISI increased their price objective on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a report on Friday, August 30th. Finally, Bank of America lifted their target price on shares of Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Best Buy currently has an average rating of “Moderate Buy” and a consensus target price of $102.56.

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.