Kera Capital Partners Inc. Buys Shares of 2,470 Best Buy Co., Inc. (NYSE:BBY)

Kera Capital Partners Inc. purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, Holdings Channel reports. The firm purchased 2,470 shares of the technology retailer’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its position in Best Buy by 4,337.6% in the second quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock valued at $92,677,000 after purchasing an additional 1,074,718 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Best Buy by 563.8% during the 4th quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock worth $50,643,000 after buying an additional 503,204 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Best Buy by 55.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer’s stock valued at $116,252,000 after acquiring an additional 491,781 shares in the last quarter. National Bank of Canada FI increased its position in shares of Best Buy by 817.4% in the third quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock valued at $55,564,000 after acquiring an additional 479,256 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Best Buy during the second quarter worth about $25,287,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.59% of the stock is currently owned by insiders.

Best Buy Trading Down 0.4 %

BBY stock opened at $81.91 on Monday. Best Buy Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71. The company has a market capitalization of $17.51 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 2.09 and a beta of 1.43. The company’s 50-day simple moving average is $87.17 and its 200 day simple moving average is $90.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

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

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders 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 dividend yield of 4.59%. Best Buy’s payout ratio is 64.27%.

Wall Street Analyst Weigh In

BBY has been the topic of several recent analyst reports. Truist Financial lowered their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Guggenheim lowered their target price on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Barclays cut their price target on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. DA Davidson restated a “buy” rating and set a $117.00 price objective on shares of Best Buy in a research note on Tuesday, October 15th. Finally, Citigroup reduced their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.72.

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.