Yousif Capital Management LLC Cuts Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Yousif Capital Management LLC decreased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 6.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 32,767 shares of the technology retailer’s stock after selling 2,169 shares during the quarter. Yousif Capital Management LLC’s holdings in Best Buy were worth $2,565,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BBY. Hartford Financial Management Inc. boosted its holdings in shares of 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 last quarter. UMB Bank n.a. raised its holdings in shares of Best Buy by 4.0% during the 4th quarter. UMB Bank n.a. now owns 3,839 shares of the technology retailer’s stock worth $301,000 after acquiring an additional 148 shares in the last quarter. Allworth Financial LP boosted its position in shares of Best Buy by 14.6% during the 3rd quarter. Allworth Financial LP now owns 1,215 shares of the technology retailer’s stock valued at $84,000 after acquiring an additional 155 shares during the last quarter. Estate Counselors LLC grew its holdings in shares of Best Buy by 1.1% in the third quarter. Estate Counselors LLC now owns 15,290 shares of the technology retailer’s stock valued at $1,062,000 after purchasing an additional 160 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in Best Buy by 14.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,341 shares of the technology retailer’s stock valued at $96,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Down 0.1 %

Shares of Best Buy stock opened at $75.00 on Tuesday. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $86.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 0.37. The stock has a market cap of $16.15 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.96 and a beta of 1.49. The firm’s 50-day moving average is $78.04 and its two-hundred day moving average is $74.20.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.21. The company 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%. Best Buy’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $2.61 earnings per share. As a group, 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 business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend was Wednesday, March 20th. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s payout ratio is 66.08%.

Insiders Place Their Bets

In related news, CEO Corie S. Barry sold 366 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 431,231 shares in the company, valued at approximately $32,670,060.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Mathew Watson sold 3,520 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $82.43, for a total transaction of $290,153.60. Following the transaction, the chief accounting officer now owns 22,118 shares in the company, valued at $1,823,186.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Corie S. Barry sold 366 shares of Best Buy 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 completion of the sale, the chief executive officer now owns 431,231 shares of the company’s stock, valued at $32,670,060.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,023 shares of company stock worth $4,253,900. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BBY shares. TheStreet upgraded shares of Best Buy from a “c” rating to a “b-” rating in a report on Thursday, February 29th. Barclays raised their price objective on Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Truist Financial increased their price target on Best Buy from $68.00 to $87.00 and gave the company a “hold” rating in a report on Friday, March 1st. The Goldman Sachs Group increased their target price on shares of Best Buy from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Wedbush upped their price target on shares of Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a report 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.60.

Best Buy Company 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.