Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Greenleaf Trust

Greenleaf Trust raised its position in Best Buy Co., Inc. (NYSE:BBY) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,876 shares of the technology retailer’s stock after acquiring an additional 422 shares during the quarter. Greenleaf Trust’s holdings in Best Buy were worth $847,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Trust Co. of Vermont increased its stake in Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after buying an additional 384 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Best Buy in the third quarter valued at $40,000. LRI Investments LLC boosted its holdings in Best Buy by 632.1% in the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after purchasing an additional 335 shares during the period. Brooklyn Investment Group acquired a new position in Best Buy during the 3rd quarter worth $44,000. Finally, Richardson Financial Services Inc. increased its holdings in Best Buy by 71.9% during the 4th quarter. Richardson Financial Services Inc. now owns 550 shares of the technology retailer’s stock worth $47,000 after purchasing an additional 230 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the business’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 transaction of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on BBY. Wells Fargo & Company lowered their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 27th. Telsey Advisory Group lowered their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, November 26th. Truist Financial reduced their price objective on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Barclays lowered their target price 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. Finally, JPMorgan Chase & Co. raised their price target on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Price Performance

Shares of BBY opened at $83.78 on Tuesday. 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 Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The firm has a 50-day simple moving average of $86.30 and a 200-day simple moving average of $90.16. The company has a market capitalization of $17.91 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 2.16 and a beta of 1.43.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $9.63 billion. During the same quarter last year, the business posted $1.29 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid 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 4.49%. Best Buy’s dividend payout ratio (DPR) is 64.27%.

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.