Clarius Group LLC Purchases Shares of 3,198 Best Buy Co., Inc. (NYSE:BBY)

Clarius Group LLC purchased a new stake in Best Buy Co., Inc. (NYSE:BBYGet Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,198 shares of the technology retailer’s stock, valued at approximately $203,000.

Other large investors also recently made changes to their positions in the company. Northern Trust Corp increased its stake in shares of Best Buy by 2.0% in the second quarter. Northern Trust Corp now owns 3,744,729 shares of the technology retailer’s stock valued at $244,119,000 after purchasing an additional 72,608 shares during the period. Ronald Blue Trust Inc. bought a new position in shares of Best Buy in the second quarter valued at approximately $128,000. Community Bank & Trust Waco Texas boosted its holdings in shares of Best Buy by 6.5% in the second quarter. Community Bank & Trust Waco Texas now owns 18,879 shares of the technology retailer’s stock valued at $1,231,000 after acquiring an additional 1,159 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Best Buy by 28.8% in the second quarter. Cetera Investment Advisers now owns 6,624 shares of the technology retailer’s stock valued at $432,000 after acquiring an additional 1,480 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Best Buy in the second quarter valued at approximately $5,835,000. Institutional investors and hedge funds own 78.48% of the company’s stock.

Insider Activity

In other news, EVP Damien Harmon sold 2,500 shares of the firm’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $79.99, for a total transaction of $199,975.00. Following the transaction, the executive vice president now owns 42,805 shares in the company, valued at approximately $3,423,971.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Richard M. Schulze sold 366,100 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $81.94, for a total value of $29,998,234.00. Following the transaction, the chairman now directly owns 590,148 shares in the company, valued at approximately $48,356,727.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Damien Harmon sold 2,500 shares of the firm’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $79.99, for a total transaction of $199,975.00. Following the completion of the transaction, the executive vice president now owns 42,805 shares in the company, valued at $3,423,971.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 368,628 shares of company stock worth $30,200,017. 0.44% of the stock is owned by corporate insiders.

Best Buy Stock Up 1.9 %

BBY stock opened at $81.94 on Thursday. Best Buy Co., Inc. has a 12-month low of $60.78 and a 12-month high of $112.96. The company has a quick ratio of 0.26, a current ratio of 0.98 and a debt-to-equity ratio of 0.38. The company has a market cap of $18.13 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.69 and a beta of 1.48. The company has a 50 day moving average of $77.54 and a two-hundred day moving average of $73.79.

Best Buy (NYSE:BBYGet Rating) last released its earnings results on Tuesday, November 22nd. The technology retailer reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.35. Best Buy had a net margin of 3.23% and a return on equity of 57.26%. The company had revenue of $10.59 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The company’s revenue was down 11.1% compared to the same quarter last year. On average, equities analysts anticipate that Best Buy Co., Inc. will post 6.55 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Tuesday, December 13th were issued a dividend of $0.88 per share. The ex-dividend date was Monday, December 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.30%. Best Buy’s dividend payout ratio is currently 52.69%.

Analysts Set New Price Targets

BBY has been the subject of several recent analyst reports. Bank of America cut shares of Best Buy from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $80.00 to $69.00 in a report on Wednesday, December 14th. JPMorgan Chase & Co. decreased their price objective on shares of Best Buy from $85.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, November 18th. Credit Suisse Group assumed coverage on shares of Best Buy in a report on Monday, December 19th. They issued a “neutral” rating and a $90.00 price objective for the company. Truist Financial raised their target price on shares of Best Buy from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, November 23rd. Finally, Telsey Advisory Group raised their target price on shares of Best Buy from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, November 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $82.71.

Best Buy Profile

(Get Rating)

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.

Further Reading

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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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