Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Alhambra Investment Management LLC

Alhambra Investment Management LLC decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,994 shares of the technology retailer’s stock after selling 142 shares during the quarter. Alhambra Investment Management LLC’s holdings in Best Buy were worth $428,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. grew its holdings in Best Buy by 190.9% in the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock valued at $27,000 after purchasing an additional 210 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy in the 3rd quarter worth about $40,000. LRI Investments LLC grew its stake 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 acquiring an additional 335 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Best Buy by 50.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 493 shares of the technology retailer’s stock valued at $42,000 after acquiring an additional 166 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Best Buy during the third quarter worth about $44,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on BBY. Barclays lowered their price target on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. DA Davidson reissued a “buy” rating and set a $117.00 price target on shares of Best Buy in a research report on Tuesday, October 15th. Truist Financial cut their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. StockNews.com cut Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Loop Capital restated a “buy” rating and issued a $100.00 target price on shares of Best Buy in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Best Buy presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.72.

Best Buy Stock Performance

Shares of NYSE:BBY opened at $81.91 on Friday. The business has a 50-day moving average of $87.31 and a two-hundred day moving average of $90.10. The firm has a market capitalization of $17.51 billion, a PE ratio of 14.00, a P/E/G ratio of 2.09 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. During the same period last year, the company posted $1.29 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a yield of 4.59%. Best Buy’s dividend payout ratio (DPR) is 64.27%.

Insider Activity at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. This represents a 42.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.59% of the stock is owned by insiders.

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.