Ghe LLC Buys 302 Shares of Best Buy Co., Inc. (NYSE:BBY)

Ghe LLC raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,154 shares of the technology retailer’s stock after purchasing an additional 302 shares during the period. Best Buy accounts for 0.9% of Ghe LLC’s holdings, making the stock its 29th biggest position. Ghe LLC’s holdings in Best Buy were worth $1,421,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Atria Wealth Solutions Inc. lifted its position in shares of Best Buy by 98.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 13,062 shares of the technology retailer’s stock valued at $1,032,000 after acquiring an additional 6,465 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new position in shares of Best Buy in the fourth quarter valued at about $1,031,000. Bfsg LLC purchased a new position in shares of Best Buy in the fourth quarter valued at about $25,000. NewSquare Capital LLC lifted its position in shares of Best Buy by 3.1% in the fourth quarter. NewSquare Capital LLC now owns 88,933 shares of the technology retailer’s stock valued at $6,853,000 after acquiring an additional 2,651 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in shares of Best Buy in the fourth quarter valued at about $51,000. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Down 0.8 %

Shares of BBY traded down $0.61 during mid-day trading on Wednesday, reaching $74.43. 3,493,339 shares of the company’s stock traded hands, compared to its average volume of 3,000,345. The stock has a market cap of $16.03 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.96 and a beta of 1.49. The stock’s 50-day moving average is $77.98 and its two-hundred day moving average is $74.08. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $86.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 0.37.

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

Best Buy Increases Dividend

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

Analyst Ratings Changes

BBY has been the topic of several research analyst reports. Barclays boosted their price objective on Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. Truist Financial boosted their price objective on Best Buy from $68.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Telsey Advisory Group upgraded Best Buy from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $85.00 to $95.00 in a research report on Wednesday, March 20th. Wedbush boosted their target price on Best Buy from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, The Goldman Sachs Group boosted their target price on Best Buy from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $84.60.

Insider Buying and Selling

In related news, CAO Mathew Watson sold 2,505 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $204,909.00. Following the transaction, the chief accounting officer now owns 25,638 shares of the company’s stock, valued at $2,097,188.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Todd G. Hartman sold 3,973 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $324,991.40. Following the transaction, the insider now owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Mathew Watson sold 2,505 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $204,909.00. Following the completion of the transaction, the chief accounting officer now directly owns 25,638 shares in the company, valued at approximately $2,097,188.40. The disclosure for this sale can be found here. Insiders have sold a total of 52,023 shares of company stock valued at $4,253,900 over the last quarter. 0.56% of the stock is owned by corporate insiders.

About Best Buy

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.