Peloton Wealth Strategists Has $3 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Peloton Wealth Strategists lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 2.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 36,623 shares of the technology retailer’s stock after selling 1,048 shares during the period. Peloton Wealth Strategists’ holdings in Best Buy were worth $3,001,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

BBY has been the topic of several research analyst reports. The Goldman Sachs Group raised Best Buy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $79.00 to $85.00 in a research note on Thursday, October 19th. Wedbush reduced their price target on shares of Best Buy from $82.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, November 10th. DA Davidson upped their price objective on shares of Best Buy from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 30th. StockNews.com started coverage on shares of Best Buy in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Telsey Advisory Group dropped their price target on Best Buy from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Best Buy currently has an average rating of “Hold” and an average target price of $77.93.

Best Buy Trading Up 0.1 %

Best Buy stock traded up $0.04 during trading hours on Monday, reaching $68.26. 465,834 shares of the company’s stock were exchanged, compared to its average volume of 2,308,976. The firm has a market capitalization of $14.86 billion, a PE ratio of 11.74, a PEG ratio of 1.80 and a beta of 1.53. The company has a quick ratio of 0.31, a current ratio of 0.98 and a debt-to-equity ratio of 0.40. The firm’s 50 day simple moving average is $68.53 and its 200 day simple moving average is $74.30. Best Buy Co., Inc. has a twelve month low of $62.30 and a twelve month high of $93.32.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, August 29th. The technology retailer reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.16. The business had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $9.52 billion. Best Buy had a return on equity of 49.40% and a net margin of 2.91%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 earnings per share. Research analysts predict that Best Buy Co., Inc. will post 6.22 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 19th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend was Monday, September 18th. Best Buy’s dividend payout ratio (DPR) is currently 63.34%.

Insider Activity

In related news, insider Todd G. Hartman sold 5,000 shares of the company’s 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 transaction, the insider now directly owns 21,285 shares of the company’s stock, valued at approximately $1,515,066.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Todd G. Hartman sold 7,948 shares of the company’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 owns 13,337 shares in the company, valued at approximately $925,321.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd G. Hartman sold 5,000 shares of Best Buy stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $71.18, for a total value of $355,900.00. Following the transaction, the insider now 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. 0.56% of the stock is currently owned by company insiders.

Best Buy Company 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.