Clarius Group LLC Sells 348 Shares of Best Buy Co., Inc. (NYSE:BBY)

Clarius Group LLC trimmed its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 11.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,671 shares of the technology retailer’s stock after selling 348 shares during the period. Clarius Group LLC’s holdings in Best Buy were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Best Buy by 1.2% in the first quarter. BlackRock Inc. now owns 19,612,957 shares of the technology retailer’s stock worth $1,535,106,000 after acquiring an additional 223,536 shares during the period. State Street Corp raised its position in shares of Best Buy by 1.2% in the first quarter. State Street Corp now owns 10,152,129 shares of the technology retailer’s stock worth $803,778,000 after buying an additional 123,256 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Best Buy by 32.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,885,308 shares of the technology retailer’s stock worth $773,724,000 after buying an additional 2,409,006 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Best Buy by 2.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,411,989 shares of the technology retailer’s stock worth $361,562,000 after buying an additional 119,216 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Best Buy by 0.7% in the first quarter. Geode Capital Management LLC now owns 4,218,968 shares of the technology retailer’s stock worth $329,735,000 after buying an additional 27,257 shares in the last quarter. 76.10% of the stock is owned by institutional investors.

Best Buy Price Performance

BBY stock opened at $68.22 on Friday. The firm has a 50 day moving average price of $68.53 and a 200-day moving average price of $74.28. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $93.32. The firm has a market capitalization of $14.85 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.80 and a beta of 1.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.31 and a current ratio of 0.98.

Best Buy (NYSE:BBY) last released its earnings results 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 firm had revenue of $9.58 billion during the quarter, compared to analyst estimates of $9.52 billion. During the same period last year, the business earned $1.54 earnings per share. The business’s revenue was down 7.2% on a year-over-year basis. Equities research analysts forecast that Best Buy Co., Inc. will post 6.22 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 19th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $3.68 annualized dividend and a dividend yield of 5.39%. Best Buy’s payout ratio is 63.34%.

Insider Activity

In other Best Buy news, insider Todd G. Hartman sold 5,000 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $71.18, for a total transaction of $355,900.00. Following the sale, the insider now directly owns 21,285 shares in the company, valued at approximately $1,515,066.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Todd G. Hartman sold 7,948 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $69.38, for a total transaction of $551,432.24. Following the transaction, the insider now owns 13,337 shares in the company, valued at $925,321.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Todd G. Hartman sold 5,000 shares of Best Buy stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $71.18, for a total transaction of $355,900.00. Following the completion of the sale, 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. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BBY. Wedbush lowered their price target on Best Buy from $82.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Guggenheim reaffirmed a “buy” rating and set a $86.00 price objective on shares of Best Buy in a research note on Wednesday, August 30th. Truist Financial reduced their price objective on Best Buy from $80.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, October 5th. Wells Fargo & Company reduced their price objective on Best Buy from $80.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, November 13th. Finally, Telsey Advisory Group reduced their price objective on Best Buy from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Best Buy currently has an average rating of “Hold” and an average price target of $77.93.

Best Buy Profile

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.