Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Bowman & Co S.C.

Bowman & Co S.C. lifted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,300 shares of the technology retailer’s stock after buying an additional 412 shares during the period. Bowman & Co S.C.’s holdings in Best Buy were worth $1,141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. QRG Capital Management Inc. boosted its position in Best Buy by 10.5% during the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock worth $3,279,000 after acquiring an additional 3,025 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Best Buy by 27.4% during the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock valued at $9,332,000 after purchasing an additional 19,405 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Best Buy by 13.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock worth $15,806,000 after purchasing an additional 18,171 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Best Buy in the 3rd quarter valued at about $2,384,000. Finally, Toronto Dominion Bank increased its stake in Best Buy by 82.2% during the 3rd quarter. Toronto Dominion Bank now owns 102,292 shares of the technology retailer’s stock valued at $10,567,000 after buying an additional 46,152 shares during the period. 80.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BBY shares. Barclays reduced their price target on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Truist Financial lowered their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Melius Research initiated coverage on Best Buy in a research note on Monday, September 23rd. They issued a “hold” rating and a $100.00 price objective on the stock. Loop Capital reaffirmed a “buy” rating and set a $100.00 target price on shares of Best Buy in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One 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 issued a strong buy rating to the company. According to MarketBeat, Best Buy has an average rating of “Moderate Buy” and a consensus target price of $100.72.

Best Buy Stock Performance

Shares of BBY stock opened at $81.91 on Friday. The firm has a market cap of $17.51 billion, a P/E ratio of 14.00, a PEG ratio of 2.09 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 Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The stock’s 50-day moving average is $87.17 and its two-hundred day moving average is $90.10.

Best Buy (NYSE:BBY) last announced its 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 return on equity of 45.93% and a net margin of 3.01%. The company had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. During the same period in the previous year, the company earned $1.29 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share 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. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.59%. Best Buy’s payout ratio is presently 64.27%.

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.59% of the company’s stock.

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.