Foster & Motley Inc. Boosts Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Foster & Motley Inc. boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,486 shares of the technology retailer’s stock after acquiring an additional 5,486 shares during the quarter. Foster & Motley Inc.’s holdings in Best Buy were worth $4,343,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. HS Management Partners LLC purchased a new stake in shares of Best Buy in the 4th quarter worth $103,854,000. Barclays PLC lifted its holdings in shares of Best Buy by 120.3% in the 3rd quarter. Barclays PLC now owns 1,336,071 shares of the technology retailer’s stock worth $92,819,000 after buying an additional 729,605 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Best Buy by 36.2% in the 3rd quarter. Federated Hermes Inc. now owns 2,586,442 shares of the technology retailer’s stock worth $179,680,000 after buying an additional 687,556 shares during the period. Van Hulzen Asset Management LLC lifted its holdings in shares of Best Buy by 426.7% in the 3rd quarter. Van Hulzen Asset Management LLC now owns 740,608 shares of the technology retailer’s stock worth $51,450,000 after buying an additional 600,000 shares during the period. Finally, Ceredex Value Advisors LLC lifted its holdings in shares of Best Buy by 73.1% in the 4th quarter. Ceredex Value Advisors LLC now owns 1,228,980 shares of the technology retailer’s stock worth $97,339,000 after buying an additional 518,920 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BBY. Barclays upped their target price on Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Telsey Advisory Group upgraded Best Buy from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $85.00 to $95.00 in a research note on Wednesday, March 20th. Citigroup upped their price objective on Best Buy from $67.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, March 1st. The Goldman Sachs Group upped their price objective on Best Buy from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Truist Financial upped their price objective on Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $84.60.

Best Buy Stock Down 0.1 %

Shares of BBY stock opened at $75.05 on Tuesday. The stock’s 50-day simple moving average is $77.94 and its 200-day simple moving average is $74.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. The firm has a market capitalization of $16.16 billion, a PE ratio of 13.20, a P/E/G ratio of 1.99 and a beta of 1.49. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $86.11.

Best Buy (NYSE:BBY) last announced its quarterly earnings data 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. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.58 billion. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $2.61 earnings per share. Equities analysts expect that Best Buy Co., Inc. will post 6.03 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were paid a $0.94 dividend. This is an increase 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 5.01%. Best Buy’s dividend payout ratio is presently 66.08%.

Insider Transactions at Best Buy

In other news, CAO Mathew Watson sold 2,505 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $204,909.00. Following the sale, the chief accounting officer now owns 25,638 shares in the company, valued at $2,097,188.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Best Buy news, CEO Corie S. Barry sold 366 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the transaction, the chief executive officer now owns 431,231 shares in the company, valued at $32,670,060.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction, the chief accounting officer now 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 52,023 shares of company stock worth $4,253,900 over the last quarter. 0.56% of the stock is currently owned by insiders.

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.