Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its stake in shares of Best Buy Co., Inc. (NYSE:BBYFree Report) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,582 shares of the technology retailer’s stock after selling 2,381 shares during the quarter. Corient Private Wealth LLC’s holdings in Best Buy were worth $2,162,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BBY. Hartford Financial Management Inc. grew 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 buying an additional 140 shares during the period. UMB Bank n.a. increased its stake in Best Buy by 4.0% in the 4th quarter. UMB Bank n.a. now owns 3,839 shares of the technology retailer’s stock valued at $301,000 after purchasing an additional 148 shares in the last quarter. Avory & Company LLC increased its stake in Best Buy by 2.6% in the 4th quarter. Avory & Company LLC now owns 6,011 shares of the technology retailer’s stock valued at $471,000 after purchasing an additional 154 shares in the last quarter. Disciplined Equity Management Inc. raised its holdings in Best Buy by 1.1% during the fourth quarter. Disciplined Equity Management Inc. now owns 15,093 shares of the technology retailer’s stock worth $1,181,000 after purchasing an additional 160 shares during the last quarter. Finally, Spire Wealth Management boosted its position in Best Buy by 7.3% during the fourth quarter. Spire Wealth Management now owns 2,380 shares of the technology retailer’s stock worth $186,000 after purchasing an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup cut their price target on Best Buy from $76.00 to $67.00 and set a “sell” rating for the company in a research note on Tuesday, May 7th. The Goldman Sachs Group increased their price target on shares of Best Buy from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Barclays lifted their price objective 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. Telsey Advisory Group reiterated an “outperform” rating and set a $95.00 target price on shares of Best Buy in a report on Thursday. Finally, Jefferies Financial Group cut their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.64.

View Our Latest Stock Report on Best Buy

Best Buy Price Performance

Best Buy stock opened at $81.53 on Friday. 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 company has a market cap of $17.64 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 2.17 and a beta of 1.50. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $86.11. The firm has a 50 day moving average price of $76.10 and a 200 day moving average price of $75.10.

Best Buy (NYSE:BBYGet Free Report) last announced its quarterly earnings data on Thursday, May 30th. The technology retailer reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.12. The company had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.96 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 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 EPS. Sell-side analysts predict that Best Buy Co., Inc. will post 6.03 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 20th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.61%. Best Buy’s dividend payout ratio (DPR) is 66.08%.

Insider Activity

In related news, insider Todd G. Hartman sold 3,973 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $324,991.40. Following the completion of the sale, the insider now owns 25,912 shares of the company’s stock, valued at approximately $2,119,601.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Best Buy news, CEO Corie S. Barry sold 366 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available at the SEC website. Also, insider Todd G. Hartman sold 3,973 shares of the 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 of the company’s stock, valued at approximately $2,119,601.60. The disclosure for this sale can be found here. Insiders have sold 52,023 shares of company stock valued at $4,253,900 in the last three months. Corporate insiders own 0.59% of the company’s stock.

Best Buy Profile

(Free Report)

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.

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

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