Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Stonebrook Private Inc.

Stonebrook Private Inc. lowered its holdings in Best Buy Co., Inc. (NYSE:BBY) by 1.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,403 shares of the technology retailer’s stock after selling 224 shares during the period. Stonebrook Private Inc.’s holdings in Best Buy were worth $1,665,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Best Buy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer’s stock valued at $1,971,908,000 after purchasing an additional 191,161 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Best Buy by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,560,368 shares of the technology retailer’s stock worth $562,880,000 after acquiring an additional 395,415 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Best Buy in the fourth quarter worth approximately $514,483,000. Geode Capital Management LLC lifted its stake in Best Buy by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 5,092,820 shares of the technology retailer’s stock worth $436,210,000 after acquiring an additional 239,840 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Best Buy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer’s stock worth $328,136,000 after acquiring an additional 459,353 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target 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, March 5th. Truist Financial reduced their price objective on shares of Best Buy from $81.00 to $64.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. Wedbush restated a “neutral” rating and set a $90.00 price objective on shares of Best Buy in a research report on Monday, March 3rd. Evercore ISI reduced their price objective on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating for the company in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group cut their target price on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Best Buy has a consensus rating of “Hold” and a consensus target price of $91.28.

Insider Transactions at Best Buy

In related news, CFO Matthew M. Bilunas sold 51,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $74.20, for a total value of $3,784,200.00. Following the sale, the chief financial officer now directly owns 55,856 shares in the company, valued at $4,144,515.20. The trade was a 47.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Corie S. Barry bought 13,500 shares of Best Buy stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the acquisition, the chief executive officer now owns 378,780 shares in the company, valued at $27,620,637.60. This represents a 3.70% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 78,355 shares of company stock valued at $5,767,213 in the last ninety days. 0.47% of the stock is currently owned by company insiders.

Best Buy Stock Performance

Shares of BBY opened at $73.79 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The stock has a market capitalization of $15.62 billion, a P/E ratio of 12.61, a P/E/G ratio of 2.10 and a beta of 1.27. The company’s fifty day moving average is $67.90 and its two-hundred day moving average is $80.28. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $103.71.

Best Buy (NYSE:BBY) last announced 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 company had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same period in the previous year, the company posted $2.72 EPS. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This is a boost from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.15%. Best Buy’s dividend payout ratio is 88.99%.

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.