Hoxton Planning & Management LLC Buys Shares of 2,927 Best Buy Co., Inc. (NYSE:BBY)

Hoxton Planning & Management LLC purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,927 shares of the technology retailer’s stock, valued at approximately $229,000.

Other institutional investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC boosted its holdings in Best Buy by 549.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 302 shares in the last quarter. Stonebridge Capital Advisors LLC lifted its position in shares of Best Buy by 81.9% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock worth $29,000 after purchasing an additional 185 shares during the last quarter. Hartford Financial Management Inc. boosted its stake in Best Buy by 56.5% during the 4th 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 during the period. Clear Street Markets LLC grew its holdings in Best Buy by 90.6% in the 1st quarter. Clear Street Markets LLC now owns 385 shares of the technology retailer’s stock valued at $30,000 after buying an additional 183 shares during the last quarter. Finally, Clearstead Advisors LLC increased its position in Best Buy by 30.5% in the 3rd quarter. Clearstead Advisors LLC now owns 724 shares of the technology retailer’s stock worth $46,000 after buying an additional 169 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBY has been the subject of several research reports. Truist Financial increased 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. Barclays raised their price objective on shares of Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. Wedbush boosted their price objective on shares of Best Buy from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Citigroup lifted their target price on Best Buy from $67.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, March 1st. Finally, UBS Group lifted their price objective on Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $84.60.

Best Buy Stock Down 2.2 %

NYSE:BBY opened at $76.29 on Tuesday. Best Buy Co., Inc. has a twelve month low of $62.30 and a twelve month high of $86.11. The firm has a market capitalization of $16.43 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 2.04 and a beta of 1.49. The company has a quick ratio of 0.37, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $77.91 and its two-hundred day moving average price is $73.77.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.21. The business had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $14.58 billion. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.61 earnings per share. Equities research analysts expect 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 an increase from Best Buy’s previous quarterly dividend of $0.92. This represents a $3.76 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Wednesday, March 20th. Best Buy’s payout ratio is currently 66.08%.

Insider Buying and Selling at Best Buy

In related news, insider Todd G. Hartman sold 3,973 shares of Best Buy stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $324,991.40. Following the completion of the sale, the insider now directly owns 25,912 shares of the company’s stock, valued at approximately $2,119,601.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Mathew Watson sold 2,505 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $204,909.00. Following the sale, the chief accounting officer now directly owns 25,638 shares of the company’s stock, valued at approximately $2,097,188.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Todd G. Hartman sold 3,973 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $324,991.40. Following the sale, the insider now owns 25,912 shares in the company, valued at $2,119,601.60. The disclosure for this sale can be found here. Insiders have sold a total of 51,394 shares of company stock worth $4,206,247 over the last ninety days. Insiders own 0.56% of the company’s stock.

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.