Mutual of America Capital Management LLC Has $2.01 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Mutual of America Capital Management LLC reduced its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,421 shares of the technology retailer’s stock after selling 764 shares during the period. Mutual of America Capital Management LLC’s holdings in Best Buy were worth $2,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BBY. Golden State Wealth Management LLC acquired a new stake in shares of Best Buy in the fourth quarter valued at about $32,000. Harbor Capital Advisors Inc. bought a new stake in Best Buy during the 3rd quarter valued at approximately $40,000. LRI Investments LLC grew its holdings in Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after buying an additional 335 shares during the last quarter. Trust Co. of Vermont increased its position in Best Buy by 1,200.0% in the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after buying an additional 384 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Best Buy during the third quarter worth approximately $44,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Price Performance

NYSE:BBY opened at $79.66 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. The firm has a market cap of $17.03 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The company’s 50-day moving average price is $85.58 and its two-hundred day moving average price is $90.39.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.18. The firm 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 quarter in the previous year, the company posted $2.72 EPS. On average, equities analysts anticipate 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 will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be paid a dividend of $0.95 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Tuesday, March 25th. Best Buy’s dividend payout ratio is 88.99%.

Insider Activity at Best Buy

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 value of $6,049,258.36. Following the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.59% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BBY has been the topic of several research analyst reports. KeyCorp restated a “sector weight” rating on shares of Best Buy in a research note on Wednesday. Morgan Stanley dropped their price objective on shares of Best Buy from $100.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their target price on shares of Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday. Loop Capital lowered their price target on Best Buy from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Piper Sandler decreased their price objective on Best Buy from $102.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.50.

Best Buy 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.