O Brien Greene & Co. Inc Acquires 12,153 Shares of Best Buy Co., Inc. (NYSE:BBY)

O Brien Greene & Co. Inc raised its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 20.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,211 shares of the technology retailer’s stock after purchasing an additional 12,153 shares during the period. Best Buy accounts for about 1.9% of O Brien Greene & Co. Inc’s holdings, making the stock its 25th largest holding. O Brien Greene & Co. Inc’s holdings in Best Buy were worth $5,918,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC raised its position in shares of Best Buy by 17.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 36,882 shares of the technology retailer’s stock worth $3,064,000 after acquiring an additional 5,508 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Best Buy by 1.7% in the 2nd quarter. Amalgamated Bank now owns 65,227 shares of the technology retailer’s stock worth $5,498,000 after buying an additional 1,084 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Best Buy by 10.5% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 207,098 shares of the technology retailer’s stock worth $17,456,000 after buying an additional 19,763 shares during the last quarter. Virtu Financial LLC boosted its stake in shares of Best Buy by 257.6% in the 2nd quarter. Virtu Financial LLC now owns 43,314 shares of the technology retailer’s stock worth $3,651,000 after buying an additional 31,202 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Best Buy during the second quarter valued at $680,000. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BBY shares. DA Davidson lifted their target price on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $114.00 target price (up from $100.00) on shares of Best Buy in a report on Friday, August 30th. Evercore ISI lifted their price target on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research report on Friday, August 30th. The Goldman Sachs Group boosted their price target on Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Bank of America boosted their price target on Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $102.56.

Best Buy Price Performance

Shares of BBY opened at $99.48 on Wednesday. The business’s 50-day moving average is $89.41 and its two-hundred day moving average is $83.10. The company has a market capitalization of $21.46 billion, a P/E ratio of 17.42, a P/E/G ratio of 2.56 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.18. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same period last year, the firm earned $1.22 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. Research analysts predict that Best Buy Co., Inc. will post 6.26 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, October 10th. Investors of record on Thursday, September 19th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, September 19th. Best Buy’s payout ratio is 65.85%.

Insider Buying and Selling

In related news, Chairman Richard M. Schulze sold 691,328 shares of Best Buy stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $88.46, for a total value of $61,154,874.88. Following the sale, the chairman now directly owns 14,911,525 shares in the company, valued at approximately $1,319,073,501.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Best Buy news, EVP Jason J. Bonfig sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $83.02, for a total value of $290,570.00. Following the transaction, the executive vice president now directly owns 50,714 shares of the company’s stock, valued at approximately $4,210,276.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 691,328 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the completion of the transaction, the chairman now directly owns 14,911,525 shares in the company, valued at $1,319,073,501.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,383,370 shares of company stock worth $122,233,276. Insiders own 0.59% of the company’s stock.

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.