Trust Co. of Vermont lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY – Free Report) by 1,200.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 416 shares of the technology retailer’s stock after acquiring an additional 384 shares during the quarter. Trust Co. of Vermont’s holdings in Best Buy were worth $36,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Best Buy during the third quarter valued at about $40,000. LRI Investments LLC raised its holdings in Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after buying an additional 335 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Best Buy by 50.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 493 shares of the technology retailer’s stock valued at $42,000 after buying an additional 166 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Best Buy during the 3rd quarter worth approximately $44,000. Finally, Hershey Financial Advisers LLC bought a new stake in Best Buy during the 2nd quarter worth approximately $48,000. Institutional investors own 80.96% of the company’s stock.
Insider Transactions at Best Buy
In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.59% of the company’s stock.
Best Buy Price Performance
Best Buy (NYSE:BBY – Get Free Report) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.04). The business had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 EPS. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.
Best Buy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio is currently 64.27%.
Analyst Ratings Changes
BBY has been the topic of a number of recent research reports. Telsey Advisory Group cut their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. Melius Research assumed coverage on Best Buy in a report on Monday, September 23rd. They set a “hold” rating and a $100.00 target price on the stock. Citigroup decreased their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Truist Financial lowered their price objective on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Finally, Loop Capital reiterated a “buy” rating and issued a $100.00 target price on shares of Best Buy in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Best Buy currently has an average rating of “Moderate Buy” and a consensus price target of $100.72.
Check Out Our Latest Stock Report on BBY
Best Buy Company Profile
Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, 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, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.
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