Savant Capital LLC Decreases Position in Best Buy Co., Inc. (NYSE:BBY)

Savant Capital LLC lessened its holdings in shares of Best Buy Co., Inc. (NYSE:BBYGet Rating) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,129 shares of the technology retailer’s stock after selling 209 shares during the period. Savant Capital LLC’s holdings in Best Buy were worth $521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BBY. Center for Financial Planning Inc. lifted its holdings in shares of Best Buy by 6.7% during the 3rd quarter. Center for Financial Planning Inc. now owns 1,890 shares of the technology retailer’s stock valued at $200,000 after purchasing an additional 118 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Best Buy by 37.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 37,887 shares of the technology retailer’s stock valued at $4,005,000 after purchasing an additional 10,331 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of Best Buy by 12.3% during the 3rd quarter. AE Wealth Management LLC now owns 23,148 shares of the technology retailer’s stock valued at $2,447,000 after purchasing an additional 2,541 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Best Buy by 12.9% during the 3rd quarter. Victory Capital Management Inc. now owns 562,079 shares of the technology retailer’s stock valued at $59,417,000 after purchasing an additional 64,325 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Best Buy by 345.8% during the 3rd quarter. Allworth Financial LP now owns 428 shares of the technology retailer’s stock valued at $45,000 after purchasing an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Shares of BBY opened at $93.07 on Tuesday. The business’s 50-day moving average is $96.51 and its two-hundred day moving average is $104.86. The company has a market capitalization of $20.96 billion, a P/E ratio of 9.46, a P/E/G ratio of 1.10 and a beta of 1.51. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.43 and a current ratio of 0.99. Best Buy Co., Inc. has a fifty-two week low of $85.58 and a fifty-two week high of $141.97.

Best Buy (NYSE:BBYGet Rating) last posted its earnings results on Thursday, March 3rd. The technology retailer reported $2.73 EPS for the quarter, meeting the Zacks’ consensus estimate of $2.73. Best Buy had a return on equity of 63.23% and a net margin of 4.74%. The firm had revenue of $16.37 billion for the quarter, compared to analysts’ expectations of $16.54 billion. During the same period last year, the firm earned $3.48 EPS. The company’s quarterly revenue was down 3.4% on a year-over-year basis. Analysts forecast that Best Buy Co., Inc. will post 8.97 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 24th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, March 23rd. This is a boost from Best Buy’s previous quarterly dividend of $0.70. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.78%. Best Buy’s dividend payout ratio (DPR) is 35.77%.

In related news, EVP Kathleen Scarlett sold 3,338 shares of Best Buy stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $99.06, for a total value of $330,662.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Todd G. Hartman sold 1,188 shares of Best Buy stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $95.72, for a total value of $113,715.36. Following the completion of the sale, the insider now owns 34,513 shares in the company, valued at $3,303,584.36. The disclosure for this sale can be found here. Insiders have sold a total of 36,955 shares of company stock worth $3,662,097 over the last 90 days. Insiders own 0.36% of the company’s stock.

A number of equities analysts recently issued reports on BBY shares. Raymond James lowered Best Buy from an “outperform” rating to a “market perform” rating in a research note on Friday, March 4th. Truist Financial raised their target price on Best Buy from $108.00 to $117.00 and gave the stock a “hold” rating in a research note on Friday, March 4th. Telsey Advisory Group reduced their target price on Best Buy from $150.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, February 28th. Bank of America reduced their target price on Best Buy from $175.00 to $147.00 and set a “buy” rating for the company in a research note on Monday, February 28th. Finally, StockNews.com upgraded Best Buy from a “hold” rating to a “buy” rating in a research note on Wednesday, April 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $118.93.

About Best Buy (Get Rating)

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.

Further Reading

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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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