Banque Cantonale Vaudoise Sells 16,183 Shares of Best Buy Co., Inc. (NYSE:BBY)

Banque Cantonale Vaudoise lowered its position in Best Buy Co., Inc. (NYSE:BBY) by 52.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,581 shares of the technology retailer’s stock after selling 16,183 shares during the period. Banque Cantonale Vaudoise’s holdings in Best Buy were worth $1,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of BBY. Baldwin Brothers LLC MA bought a new position in Best Buy in the 2nd quarter worth about $25,000. Oliver Lagore Vanvalin Investment Group purchased a new position in Best Buy during the 1st quarter worth $28,000. Clear Street Markets LLC raised its position in Best Buy by 90.6% during the 1st quarter. Clear Street Markets LLC now owns 385 shares of the technology retailer’s stock valued at $30,000 after purchasing an additional 183 shares in the last quarter. Cambridge Trust Co. lifted its holdings in shares of Best Buy by 3,900.0% in the 1st quarter. Cambridge Trust Co. now owns 400 shares of the technology retailer’s stock worth $31,000 after buying an additional 390 shares during the period. Finally, BOKF NA bought a new position in shares of Best Buy during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 76.10% of the company’s stock.

Insider Transactions at Best Buy

In related news, insider Todd G. Hartman sold 7,948 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $69.38, for a total value of $551,432.24. Following the transaction, the insider now directly owns 13,337 shares in the company, valued at $925,321.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Todd G. Hartman sold 7,948 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $69.38, for a total value of $551,432.24. Following the sale, the insider now directly owns 13,337 shares in the company, valued at approximately $925,321.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Todd G. Hartman sold 5,000 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $71.18, for a total transaction of $355,900.00. Following the transaction, the insider now directly owns 21,285 shares of the company’s stock, valued at approximately $1,515,066.30. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BBY. Truist Financial decreased their price objective on Best Buy from $80.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, October 5th. UBS Group lowered their price target on shares of Best Buy from $85.00 to $76.00 and set a “neutral” rating for the company in a research report on Monday. DA Davidson lifted their price objective on shares of Best Buy from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, August 30th. Guggenheim reissued a “buy” rating and issued a $86.00 price objective on shares of Best Buy in a research note on Wednesday, August 30th. Finally, Citigroup increased their target price on Best Buy from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and an average price target of $78.27.

Best Buy Price Performance

Shares of Best Buy stock opened at $66.48 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.98 and a quick ratio of 0.31. The business has a 50 day simple moving average of $68.85 and a two-hundred day simple moving average of $74.41. The stock has a market capitalization of $14.47 billion, a P/E ratio of 11.44, a PEG ratio of 1.68 and a beta of 1.53. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $93.32.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.16. Best Buy had a net margin of 2.91% and a return on equity of 49.40%. The company had revenue of $9.58 billion during the quarter, compared to analysts’ expectations of $9.52 billion. During the same quarter in the prior year, the company earned $1.54 EPS. Best Buy’s revenue was down 7.2% compared to the same quarter last year. As a group, analysts predict that Best Buy Co., Inc. will post 6.22 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 19th were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, September 18th. This represents a $3.68 annualized dividend and a dividend yield of 5.54%. Best Buy’s dividend payout ratio (DPR) is 63.34%.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States and Canada. The company operates in two segments, Domestic 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.