Aaron Wealth Advisors LLC Takes $253,000 Position in Best Buy Co., Inc. (NYSE:BBY)

Aaron Wealth Advisors LLC bought a new position in Best Buy Co., Inc. (NYSE:BBYFree Report) during the 4th quarter, Holdings Channel reports. The fund bought 2,949 shares of the technology retailer’s stock, valued at approximately $253,000.

A number of other hedge funds also recently bought and sold shares of BBY. Park Avenue Securities LLC grew its position in shares of Best Buy by 1.3% in the 3rd quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock worth $855,000 after buying an additional 103 shares during the last quarter. Greenleaf Trust increased its position in Best Buy by 1.2% during the 3rd quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock valued at $977,000 after purchasing an additional 108 shares during the period. SeaCrest Wealth Management LLC raised its holdings in Best Buy by 4.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock worth $276,000 after purchasing an additional 118 shares in the last quarter. Hoxton Planning & Management LLC lifted its position in shares of Best Buy by 3.7% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer’s stock worth $360,000 after purchasing an additional 124 shares during the period. Finally, Access Investment Management LLC boosted its stake in shares of Best Buy by 12.2% during the 3rd quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock valued at $143,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BBY. Guggenheim decreased their price target on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Truist Financial lowered their target price on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. DA Davidson reiterated a “buy” rating and issued a $117.00 price objective on shares of Best Buy in a report on Tuesday, October 15th. Morgan Stanley lowered their price objective on Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Citigroup reduced their target price on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $101.72.

Get Our Latest Research Report on BBY

Insider Activity

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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.59% of the company’s stock.

Best Buy Trading Up 3.2 %

Shares of NYSE:BBY opened at $84.54 on Wednesday. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The stock’s fifty day moving average price is $87.02 and its 200-day moving average price is $90.20. The company has a market cap of $18.08 billion, a P/E ratio of 14.45, a PEG ratio of 2.06 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

Best Buy (NYSE:BBYGet Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. During the same period in the previous year, the business earned $1.29 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. Sell-side analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a yield of 4.45%. Best Buy’s dividend payout ratio is presently 64.27%.

About Best Buy

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBYFree Report).

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

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