Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. boosted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 286.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,178 shares of the technology retailer’s stock after acquiring an additional 81,701 shares during the period. Itau Unibanco Holding S.A. owned 0.05% of Best Buy worth $8,624,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Arlington Partners LLC acquired a new position in Best Buy in the first quarter valued at approximately $28,000. BOKF NA acquired a new position in Best Buy in the first quarter valued at approximately $33,000. CoreCap Advisors LLC acquired a new position in Best Buy in the fourth quarter valued at approximately $39,000. Clearstead Advisors LLC lifted its stake in Best Buy by 30.5% during the third quarter. Clearstead Advisors LLC now owns 724 shares of the technology retailer’s stock worth $46,000 after purchasing an additional 169 shares in the last quarter. Finally, US Asset Management LLC acquired a new position in Best Buy during the fourth quarter worth $52,000. 76.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Best Buy

In related news, EVP Kathleen Scarlett sold 34,191 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $81.30, for a total value of $2,779,728.30. Following the completion of the sale, the executive vice president now owns 65,039 shares in the company, valued at $5,287,670.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Chairman Richard M. Schulze sold 100,000 shares of Best Buy stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.24, for a total transaction of $8,524,000.00. Following the completion of the sale, the chairman now directly owns 349,448 shares in the company, valued at approximately $29,786,947.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kathleen Scarlett sold 34,191 shares of Best Buy stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $81.30, for a total transaction of $2,779,728.30. Following the sale, the executive vice president now owns 65,039 shares of the company’s stock, valued at $5,287,670.70. The disclosure for this sale can be found here. Insiders sold a total of 384,191 shares of company stock worth $32,028,728 over the last 90 days. Company insiders own 0.56% of the company’s stock.

Best Buy Stock Performance

Shares of NYSE BBY traded up $0.52 during midday trading on Thursday, reaching $76.45. 3,086,566 shares of the company were exchanged, compared to its average volume of 2,328,679. The company has a current ratio of 0.98, a quick ratio of 0.32 and a debt-to-equity ratio of 0.41. Best Buy Co., Inc. has a 1 year low of $60.78 and a 1 year high of $93.32. The stock has a fifty day simple moving average of $80.31 and a 200 day simple moving average of $77.75. The stock has a market cap of $16.68 billion, a P/E ratio of 12.93, a PEG ratio of 2.01 and a beta of 1.53.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.16. Best Buy had a return on equity of 51.95% and a net margin of 2.93%. The firm had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.52 billion. During the same quarter last year, the company posted $1.54 earnings per share. The business’s revenue was down 7.2% on a year-over-year basis. On average, research analysts forecast that Best Buy Co., Inc. will post 6.01 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be given a $0.92 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $3.68 dividend on an annualized basis and a yield of 4.81%. Best Buy’s payout ratio is currently 62.27%.

Wall Street Analyst Weigh In

BBY has been the topic of a number of research reports. Telsey Advisory Group upped their price target on Best Buy from $78.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday. TheStreet upgraded Best Buy from a “c” rating to a “b-” rating in a research note on Tuesday. Truist Financial upped their price target on Best Buy from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday. Guggenheim reiterated a “buy” rating and issued a $86.00 price objective on shares of Best Buy in a research note on Wednesday. Finally, SpectralCast reiterated a “maintains” rating on shares of Best Buy in a research note on Friday, May 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Best Buy currently has a consensus rating of “Moderate Buy” and an average target price of $80.67.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States and Canada. The company operates in two segments, Domestic 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.