PrairieView Partners LLC Purchases 451 Shares of Best Buy Co., Inc. (NYSE:BBY)

PrairieView Partners LLC raised its position in Best Buy Co., Inc. (NYSE:BBY) by 119.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 829 shares of the technology retailer’s stock after acquiring an additional 451 shares during the period. PrairieView Partners LLC’s holdings in Best Buy were worth $71,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of Best Buy by 52.6% during the 4th quarter. Van ECK Associates Corp now owns 110,857 shares of the technology retailer’s stock worth $9,511,000 after purchasing an additional 38,216 shares in the last quarter. Marks Group Wealth Management Inc bought a new stake in shares of Best Buy during the 4th quarter worth approximately $287,000. Community Financial Services Group LLC increased its holdings in shares of Best Buy by 7.2% during the 4th quarter. Community Financial Services Group LLC now owns 14,538 shares of the technology retailer’s stock worth $1,247,000 after acquiring an additional 974 shares during the last quarter. Community Bank & Trust Waco Texas increased its holdings in shares of Best Buy by 1.2% during the 4th quarter. Community Bank & Trust Waco Texas now owns 30,825 shares of the technology retailer’s stock worth $2,645,000 after acquiring an additional 358 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Best Buy by 312.3% in the 4th quarter. Empowered Funds LLC now owns 119,141 shares of the technology retailer’s stock valued at $10,222,000 after buying an additional 90,247 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BBY has been the subject of a number of recent analyst reports. Telsey Advisory Group cut their target price on Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. Truist Financial reduced their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Citigroup reduced their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company reduced their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 27th. Finally, StockNews.com cut Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.72.

Best Buy Stock Down 1.4 %

BBY stock opened at $86.79 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.01 and a beta of 1.43. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The stock has a fifty day moving average of $85.79 and a 200-day moving average of $90.06.

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

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a yield of 4.33%. Best Buy’s dividend payout ratio (DPR) is 64.27%.

Best Buy 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.