Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its holdings in Best Buy Co., Inc. (NYSE:BBYGet Rating) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,292 shares of the technology retailer’s stock after purchasing an additional 895 shares during the period. Kestra Advisory Services LLC’s holdings in Best Buy were worth $1,222,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BBY. Private Advisor Group LLC grew its stake in shares of Best Buy by 29.2% in the 1st quarter. Private Advisor Group LLC now owns 5,547 shares of the technology retailer’s stock worth $504,000 after purchasing an additional 1,252 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Best Buy by 1.1% in the 1st quarter. Yousif Capital Management LLC now owns 39,097 shares of the technology retailer’s stock worth $3,554,000 after purchasing an additional 415 shares during the last quarter. Aviva PLC boosted its holdings in shares of Best Buy by 31.1% in the first quarter. Aviva PLC now owns 105,369 shares of the technology retailer’s stock worth $9,578,000 after buying an additional 24,977 shares during the period. Prudential PLC acquired a new position in shares of Best Buy in the first quarter worth about $499,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Best Buy by 6.3% in the first quarter. Cetera Investment Advisers now owns 5,144 shares of the technology retailer’s stock worth $468,000 after buying an additional 305 shares during the period. Institutional investors and hedge funds own 78.48% of the company’s stock.

Best Buy Price Performance

Shares of NYSE:BBY opened at $83.63 on Wednesday. Best Buy Co., Inc. has a fifty-two week low of $60.78 and a fifty-two week high of $112.96. The business has a 50-day moving average of $81.55 and a two-hundred day moving average of $75.22. The stock has a market capitalization of $18.50 billion, a P/E ratio of 12.52, a P/E/G ratio of 0.71 and a beta of 1.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.98 and a quick ratio of 0.26.

Best Buy (NYSE:BBYGet Rating) last announced its quarterly earnings results on Tuesday, November 22nd. The technology retailer reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.35. Best Buy had a return on equity of 57.26% and a net margin of 3.23%. The company had revenue of $10.59 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities research analysts predict that Best Buy Co., Inc. will post 6.59 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Tuesday, December 13th were given a $0.88 dividend. The ex-dividend date of this dividend was Monday, December 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.21%. Best Buy’s dividend payout ratio is currently 52.69%.

Wall Street Analysts Forecast Growth

BBY has been the subject of several recent analyst reports. UBS Group raised their target price on shares of Best Buy to $80.00 in a report on Thursday, November 24th. StockNews.com initiated coverage on shares of Best Buy in a report on Wednesday, October 12th. They issued a “hold” rating for the company. JPMorgan Chase & Co. decreased their target price 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. Wedbush boosted their price objective on shares of Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 23rd. Finally, Piper Sandler upped their price objective on shares of Best Buy to $91.00 in a research note on Thursday, November 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $82.71.

Insiders Place Their Bets

In other Best Buy news, EVP Damien Harmon sold 2,500 shares of the business’s stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $79.99, for a total value of $199,975.00. Following the completion of the sale, the executive vice president now owns 42,805 shares of the company’s stock, valued at $3,423,971.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Damien Harmon sold 2,500 shares of Best Buy stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $79.99, for a total value of $199,975.00. Following the transaction, the executive vice president now directly owns 42,805 shares in the company, valued at $3,423,971.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 366,100 shares of Best Buy stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $81.94, for a total value of $29,998,234.00. Following the completion of the transaction, the chairman now owns 590,148 shares in the company, valued at $48,356,727.12. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Best Buy Company 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.

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

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