Best Buy Co., Inc. (NYSE:BBY) Shares Sold by 1834 Investment Advisors Co.

1834 Investment Advisors Co. lessened its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 20.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,745 shares of the technology retailer’s stock after selling 9,059 shares during the period. 1834 Investment Advisors Co.’s holdings in Best Buy were worth $2,981,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BBY. Trust Co. of Vermont raised its holdings in Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after purchasing an additional 384 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Best Buy in the 3rd quarter valued at $40,000. LRI Investments LLC grew its position in shares of 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. Brooklyn Investment Group acquired a new stake in Best Buy during the 3rd quarter worth $44,000. Finally, Hershey Financial Advisers LLC purchased a new stake in Best Buy in the second quarter valued at $48,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Activity at Best Buy

In related 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 completion of the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.59% of the stock is currently owned by insiders.

Best Buy Trading Down 1.0 %

Shares of BBY stock opened at $84.80 on Friday. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The firm’s 50-day simple moving average is $86.49 and its 200-day simple moving average is $90.14. The firm has a market cap of $18.13 billion, a P/E ratio of 14.50, a PEG ratio of 2.11 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 (NYSE:BBY) last announced its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. During the same quarter last year, the business earned $1.29 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, equities analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The firm also recently announced 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. This represents a $3.76 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BBY. JPMorgan Chase & Co. raised their price objective on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. DA Davidson restated a “buy” rating and set a $117.00 price target on shares of Best Buy in a research note on Tuesday, October 15th. Morgan Stanley reduced their price objective on Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. 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 research report on Friday, November 29th. Finally, Truist Financial reduced their price target on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Best Buy presently has a consensus rating of “Moderate Buy” and an average price target of $101.72.

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.