Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC trimmed its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 25.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,112 shares of the technology retailer’s stock after selling 1,712 shares during the quarter. Farther Finance Advisors LLC’s holdings in Best Buy were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BBY. Golden State Wealth Management LLC acquired a new position in Best Buy during the fourth quarter worth $32,000. LRI Investments LLC increased its stake in shares of Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after purchasing an additional 335 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Best Buy during the fourth quarter worth about $34,000. Trust Co. of Vermont lifted its stake in Best Buy by 1,200.0% in the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after buying an additional 384 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Best Buy in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

BBY has been the subject of a number of research analyst reports. UBS Group set a $105.00 target price on Best Buy in a report on Wednesday, March 5th. Wells Fargo & Company reduced their price objective on Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Jefferies Financial Group lowered their target price on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Evercore ISI reduced their target price on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating for the company in a research report on Wednesday, March 5th. Finally, Piper Sandler lowered their price target on shares of Best Buy from $102.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and a consensus price target of $93.50.

Insider Buying and Selling

In other Best Buy news, CEO Corie S. Barry purchased 13,500 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the purchase, the chief executive officer now directly owns 378,780 shares of the company’s stock, valued at approximately $27,620,637.60. This trade represents a 3.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.59% of the stock is owned by corporate insiders.

Best Buy Trading Up 1.8 %

NYSE BBY opened at $71.56 on Monday. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The stock has a market capitalization of $15.30 billion, a P/E ratio of 12.23, a PEG ratio of 2.10 and a beta of 1.43. The firm’s 50-day moving average is $84.40 and its two-hundred day moving average is $89.95. 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 posted its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. The firm had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same quarter last year, the company posted $2.72 EPS. On average, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend is Tuesday, March 25th. This is an increase from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s payout ratio is currently 88.99%.

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.