Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Foster & Motley Inc.

Foster & Motley Inc. boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 11.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 55,486 shares of the technology retailer’s stock after purchasing an additional 5,486 shares during the period. Foster & Motley Inc.’s holdings in Best Buy were worth $4,343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Duality Advisers LP acquired a new position in Best Buy during the 4th quarter worth approximately $1,590,000. OLD National Bancorp IN increased its position in Best Buy by 3.9% during the 4th quarter. OLD National Bancorp IN now owns 102,018 shares of the technology retailer’s stock worth $7,986,000 after purchasing an additional 3,833 shares during the period. Handelsbanken Fonder AB increased its position in Best Buy by 20.8% during the 4th quarter. Handelsbanken Fonder AB now owns 84,529 shares of the technology retailer’s stock worth $6,617,000 after purchasing an additional 14,537 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Best Buy by 3.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,401 shares of the technology retailer’s stock worth $2,458,000 after purchasing an additional 1,028 shares during the period. Finally, Verdence Capital Advisors LLC increased its position in Best Buy by 54.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 10,908 shares of the technology retailer’s stock worth $854,000 after purchasing an additional 3,855 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of NYSE:BBY opened at $75.05 on Tuesday. The business’s fifty day moving average price is $77.94 and its two-hundred day moving average price is $74.03. The stock has a market cap of $16.16 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.99 and a beta of 1.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $86.11.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.21. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The business had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $14.58 billion. During the same quarter last year, the firm earned $2.61 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, analysts forecast that Best Buy Co., Inc. will post 6.03 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.94 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $3.76 annualized dividend and a dividend yield of 5.01%. Best Buy’s dividend payout ratio (DPR) is 66.08%.

Analyst Ratings Changes

BBY has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded Best Buy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $89.00 to $101.00 in a research report on Friday, March 22nd. UBS Group upped their price target on Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Jefferies Financial Group lowered their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Telsey Advisory Group upgraded Best Buy from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $85.00 to $95.00 in a report on Wednesday, March 20th. Finally, Truist Financial upped their price target on Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Best Buy has an average rating of “Hold” and a consensus target price of $84.60.

Insider Transactions at Best Buy

In other news, CEO Corie S. Barry sold 28,042 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $2,293,835.60. Following the sale, the chief executive officer now owns 429,159 shares in the company, valued at $35,105,206.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Corie S. Barry sold 28,042 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $2,293,835.60. Following the transaction, the chief executive officer now directly owns 429,159 shares of the company’s stock, valued at approximately $35,105,206.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Corie S. Barry sold 366 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total value of $27,728.16. Following the completion of the transaction, the chief executive officer now directly owns 431,231 shares in the company, valued at $32,670,060.56. The disclosure for this sale can be found here. Insiders have sold 52,023 shares of company stock worth $4,253,900 over the last quarter. 0.56% of the stock is currently owned by insiders.

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.