Cwm LLC Has $197,000 Holdings in Best Buy Co., Inc. (NYSE:BBY)

Cwm LLC lifted its position in Best Buy Co., Inc. (NYSE:BBYGet Rating) by 33.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,112 shares of the technology retailer’s stock after purchasing an additional 788 shares during the quarter. Cwm LLC’s holdings in Best Buy were worth $197,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BBY. BerganKDV Wealth Management LLC raised its stake in shares of Best Buy by 13,566.7% in the second quarter. BerganKDV Wealth Management LLC now owns 410 shares of the technology retailer’s stock valued at $27,000 after purchasing an additional 407 shares in the last quarter. Clear Street Markets LLC raised its stake in shares of Best Buy by 376.4% in the second quarter. Clear Street Markets LLC now owns 424 shares of the technology retailer’s stock valued at $28,000 after purchasing an additional 335 shares in the last quarter. Ellevest Inc. raised its stake in shares of Best Buy by 91.1% in the second quarter. Ellevest Inc. now owns 472 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 225 shares in the last quarter. Glassman Wealth Services raised its stake in shares of Best Buy by 242.0% in the second quarter. Glassman Wealth Services now owns 472 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 334 shares in the last quarter. Finally, ACG Wealth acquired a new position in shares of Best Buy in the second quarter valued at $32,000. 78.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BBY has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded Best Buy from a “sell” rating to a “neutral” rating and upped their price target for the company from $59.00 to $83.00 in a research report on Monday, December 12th. StockNews.com initiated coverage on Best Buy in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Truist Financial upped their price target on Best Buy from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, November 23rd. Piper Sandler upped their price target on Best Buy to $91.00 in a research report on Thursday, November 24th. Finally, Wedbush upped their price target on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $82.71.

Best Buy Trading Down 0.7 %

Shares of BBY opened at $85.78 on Monday. The company has a quick ratio of 0.26, a current ratio of 0.98 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 12-month low of $60.78 and a 12-month high of $112.96. The firm has a market capitalization of $18.98 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.74 and a beta of 1.48. The stock’s fifty day simple moving average is $79.87 and its 200-day simple moving average is $74.48.

Best Buy (NYSE:BBYGet Rating) last issued its quarterly earnings results on Tuesday, November 22nd. The technology retailer reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.35. Best Buy had a return on equity of 57.26% and a net margin of 3.23%. The business had revenue of $10.59 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same quarter in the prior year, the firm posted $2.08 earnings per share. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. As a group, research analysts predict that Best Buy Co., Inc. will post 6.59 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Tuesday, December 13th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Monday, December 12th. Best Buy’s payout ratio is 52.69%.

Insider Buying and Selling at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 366,100 shares of the stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $81.94, for a total value of $29,998,234.00. Following the transaction, the chairman now owns 590,148 shares of the company’s stock, valued at $48,356,727.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Best Buy news, Chairman Richard M. Schulze sold 366,100 shares of the stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $81.94, for a total value of $29,998,234.00. Following the transaction, the chairman now owns 590,148 shares of the company’s stock, valued at $48,356,727.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Damien Harmon sold 2,500 shares of the firm’s stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $79.99, for a total value of $199,975.00. Following the sale, the executive vice president now directly owns 42,805 shares in the company, valued at approximately $3,423,971.95. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Best Buy Profile

(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.

Read More

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

Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.