Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Disciplined Equity Management Inc.

Disciplined Equity Management Inc. raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,093 shares of the technology retailer’s stock after purchasing an additional 160 shares during the period. Best Buy accounts for 0.8% of Disciplined Equity Management Inc.’s holdings, making the stock its 23rd biggest position. Disciplined Equity Management Inc.’s holdings in Best Buy were worth $1,181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BBY. Cary Street Partners Investment Advisory LLC lifted its holdings in Best Buy by 549.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 302 shares in the last quarter. Bfsg LLC purchased a new position in Best Buy during the fourth quarter valued at $25,000. Naples Money Management LLC purchased a new position in Best Buy during the fourth quarter valued at $27,000. Stonebridge Capital Advisors LLC lifted its holdings in Best Buy by 81.9% during the third quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock valued at $29,000 after purchasing an additional 185 shares in the last quarter. Finally, Hartford Financial Management Inc. lifted its holdings in Best Buy by 56.5% during the fourth quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock valued at $30,000 after purchasing an additional 140 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Trading Down 0.8 %

Best Buy stock traded down $0.61 during midday trading on Wednesday, hitting $74.43. 3,493,339 shares of the stock were exchanged, compared to its average volume of 3,000,345. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $86.11. The stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.96 and a beta of 1.49. The stock’s 50-day simple moving average is $77.98 and its 200 day simple moving average is $74.08. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.21. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The business had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.58 billion. During the same period last year, the business earned $2.61 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts anticipate that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This is a boost from Best Buy’s previous quarterly dividend of $0.92. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.05%. Best Buy’s dividend payout ratio (DPR) is currently 66.08%.

Analysts Set New Price Targets

BBY has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised shares of Best Buy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $89.00 to $101.00 in a report on Friday, March 22nd. Citigroup raised their price target on shares of Best Buy from $67.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. TheStreet raised shares of Best Buy from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. Truist Financial raised their price target on shares of Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, Wedbush raised their price target on shares of Best Buy from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $84.60.

Insider Buying and Selling at Best Buy

In other Best Buy news, CEO Corie S. Barry sold 28,042 shares of Best Buy stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $2,293,835.60. Following the completion of the sale, the chief executive officer now directly owns 429,159 shares in the company, valued at $35,105,206.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Matthew M. Bilunas sold 8,258 shares of Best Buy stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $675,504.40. Following the completion of the transaction, the chief financial officer now owns 90,694 shares in the company, valued at $7,418,769.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Corie S. Barry sold 28,042 shares of Best Buy stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $2,293,835.60. Following the completion of the transaction, the chief executive officer now owns 429,159 shares of the company’s stock, valued at approximately $35,105,206.20. The disclosure for this sale can be found here. Insiders sold a total of 52,023 shares of company stock worth $4,253,900 over the last three months. Insiders own 0.56% of the company’s stock.

Best Buy 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.