Community Bank & Trust Waco Texas Grows Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Community Bank & Trust Waco Texas boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 30,825 shares of the technology retailer’s stock after acquiring an additional 358 shares during the period. Community Bank & Trust Waco Texas’ holdings in Best Buy were worth $2,645,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in Best Buy during the fourth quarter valued at $32,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy in the third quarter valued at $40,000. LRI Investments LLC raised its stake in shares of Best Buy by 632.1% in the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after acquiring an additional 335 shares during the period. Trust Co. of Vermont raised its stake in shares of Best Buy by 1,200.0% in the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after acquiring an additional 384 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Best Buy in the third quarter valued at $44,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

BBY has been the topic of several recent analyst reports. UBS Group reduced their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Truist Financial dropped their target price on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Guggenheim dropped their target price on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. DA Davidson reiterated a “buy” rating and set a $117.00 target price on shares of Best Buy in a report on Tuesday, October 15th. Finally, Citigroup lowered their price target on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.72.

Insider Activity

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.59% of the company’s stock.

Best Buy Price Performance

NYSE:BBY opened at $88.07 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 2.01 and a beta of 1.43. The company has a 50 day moving average price of $85.86 and a 200-day moving average price of $90.05. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. During the same period in the prior year, the business posted $1.29 EPS. Best Buy’s revenue was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.27%. Best Buy’s payout ratio is 64.27%.

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.