Linden Thomas Advisory Services LLC Has $1.13 Million Stake in Best Buy Co., Inc. (NYSE:BBY)

Linden Thomas Advisory Services LLC grew its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,384 shares of the technology retailer’s stock after buying an additional 645 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Best Buy were worth $1,126,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Cary Street Partners Investment Advisory LLC grew its position in shares of Best Buy by 549.1% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 302 shares during the period. Naples Money Management LLC acquired a new position in shares of Best Buy during the 4th quarter worth about $27,000. Stonebridge Capital Advisors LLC raised its stake in Best Buy by 81.9% in the third quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock valued at $29,000 after buying an additional 185 shares during the period. Hartford Financial Management Inc. boosted its position in Best Buy by 56.5% during the fourth quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock worth $30,000 after purchasing an additional 140 shares during the period. Finally, CENTRAL TRUST Co raised its holdings in Best Buy by 72.5% in the 4th quarter. CENTRAL TRUST Co now owns 1,004 shares of the technology retailer’s stock valued at $79,000 after acquiring an additional 422 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Best Buy news, CEO Corie S. Barry sold 366 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Best Buy news, CEO Corie S. Barry sold 366 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total value of $27,728.16. Following the completion of the sale, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at $32,670,060.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Todd G. Hartman sold 3,973 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $324,991.40. Following the completion of 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 52,023 shares of company stock worth $4,253,900 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Best Buy Stock Down 0.8 %

Shares of NYSE BBY opened at $74.43 on Thursday. 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 firm has a market cap of $16.03 billion, a PE ratio of 13.08, a P/E/G ratio of 1.96 and a beta of 1.49. The company’s fifty day simple moving average is $77.98 and its 200 day simple 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.

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 the consensus estimate of $2.51 by $0.21. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.58 billion. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.61 earnings per share. As a group, sell-side analysts forecast that Best Buy Co., Inc. will post 6.03 earnings per share for the current fiscal year.

Best Buy Increases Dividend

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

Wall Street Analysts Forecast Growth

BBY has been the topic of a number of recent research reports. Truist Financial raised their price target on shares of Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. Wedbush lifted their price target on shares of Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Barclays increased their price target on Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. UBS Group raised their price objective on Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, The Goldman Sachs Group upped their target price on Best Buy from $81.00 to $90.00 and gave the company a “buy” 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 given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.60.

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.