Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in Best Buy Co., Inc. (NYSE:BBYGet Rating) by 4.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 305,775 shares of the technology retailer’s stock after selling 15,317 shares during the period. Principal Financial Group Inc. owned 0.13% of Best Buy worth $31,067,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Counterpoint Mutual Funds LLC acquired a new position in Best Buy in the fourth quarter worth about $25,000. Stonebridge Capital Advisors LLC grew its stake in Best Buy by 65.4% in the third quarter. Stonebridge Capital Advisors LLC now owns 253 shares of the technology retailer’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Concord Wealth Partners grew its stake in Best Buy by 1,016.0% in the fourth quarter. Concord Wealth Partners now owns 279 shares of the technology retailer’s stock worth $28,000 after purchasing an additional 254 shares in the last quarter. Jacobi Capital Management LLC acquired a new position in Best Buy in the third quarter worth about $29,000. Finally, Widmann Financial Services Inc. acquired a new position in Best Buy in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 80.79% of the company’s stock.

Shares of NYSE:BBY opened at $86.36 on Friday. Best Buy Co., Inc. has a 12 month low of $83.38 and a 12 month high of $141.97. The stock has a market cap of $19.43 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.99 and a beta of 1.42. The stock’s 50 day moving average price is $94.53 and its 200 day moving average price is $102.71. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.43.

Best Buy (NYSE:BBYGet Rating) last announced its earnings results on Thursday, March 3rd. The technology retailer reported $2.73 EPS for the quarter, hitting the consensus estimate of $2.73. Best Buy had a return on equity of 63.23% and a net margin of 4.74%. The firm had revenue of $16.37 billion for the quarter, compared to analysts’ expectations of $16.54 billion. During the same quarter in the previous year, the company earned $3.48 earnings per share. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, sell-side analysts expect that Best Buy Co., Inc. will post 8.95 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 24th were issued a dividend of $0.88 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $3.52 annualized dividend and a yield of 4.08%. Best Buy’s payout ratio is presently 35.77%.

In other Best Buy news, insider Todd G. Hartman sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $101.73, for a total value of $203,460.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Todd G. Hartman sold 1,188 shares of the company’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $95.72, for a total value of $113,715.36. Following the completion of the transaction, the insider now directly owns 34,513 shares in the company, valued at approximately $3,303,584.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,955 shares of company stock worth $3,662,097. 0.36% of the stock is owned by corporate insiders.

A number of brokerages have commented on BBY. Bank of America decreased their target price on Best Buy from $175.00 to $147.00 and set a “buy” rating for the company in a research note on Monday, February 28th. Truist Financial lifted their target price on Best Buy from $108.00 to $117.00 and gave the company a “hold” rating in a research note on Friday, March 4th. Morgan Stanley decreased their target price on Best Buy from $120.00 to $110.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 18th. Telsey Advisory Group decreased their target price on Best Buy from $150.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, February 28th. Finally, Raymond James downgraded Best Buy from an “outperform” rating to a “market perform” rating in a research note on Friday, March 4th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Best Buy presently has a consensus rating of “Buy” and a consensus price target of $118.00.

Best Buy Company Profile (Get Rating)

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.

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

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