Linden Thomas Advisory Services LLC Lowers Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Linden Thomas Advisory Services LLC trimmed its position in Best Buy Co., Inc. (NYSE:BBY) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,435 shares of the technology retailer’s stock after selling 136 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Best Buy were worth $1,324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BBY. QRG Capital Management Inc. raised its position in shares of Best Buy by 10.5% during the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock valued at $3,279,000 after purchasing an additional 3,025 shares during the period. Asset Management One Co. Ltd. increased its stake in Best Buy by 27.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after buying an additional 19,405 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Best Buy by 13.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock valued at $15,806,000 after acquiring an additional 18,171 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of Best Buy in the third quarter valued at about $2,384,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Best Buy by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock worth $636,840,000 after acquiring an additional 241,988 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Down 1.0 %

Shares of BBY stock opened at $84.80 on Friday. The stock’s fifty day moving average price is $86.49 and its 200 day moving average price is $90.14. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The company has a market cap of $18.13 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). The business had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. Best Buy’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. On average, research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued a $0.94 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.43%. Best Buy’s dividend payout ratio is currently 64.27%.

Analyst Ratings Changes

A number of research analysts recently commented on BBY shares. Morgan Stanley lowered their price target on Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Loop Capital restated a “buy” rating and set a $100.00 target price on shares of Best Buy in a research report on Wednesday, December 18th. UBS Group cut their target price on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. DA Davidson restated a “buy” rating and set a $117.00 price objective on shares of Best Buy in a research report on Tuesday, October 15th. Finally, Truist Financial decreased their target price on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Insider Transactions at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.59% of the company’s stock.

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.