Nemes Rush Group LLC Acquires 146 Shares of Best Buy Co., Inc. (NYSE:BBY)

Nemes Rush Group LLC raised its stake in Best Buy Co., Inc. (NYSE:BBYFree Report) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,523 shares of the technology retailer’s stock after acquiring an additional 146 shares during the quarter. Nemes Rush Group LLC’s holdings in Best Buy were worth $6,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBY. Hartford Financial Management Inc. grew its position in shares of Best Buy by 56.5% during the 4th 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. grew its holdings in Best Buy by 4.0% during the fourth 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 during the period. Avory & Company LLC grew its holdings in Best Buy by 2.6% during the fourth 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 during the period. Allworth Financial LP lifted its stake in Best Buy by 14.6% in the third quarter. Allworth Financial LP now owns 1,215 shares of the technology retailer’s stock valued at $84,000 after buying an additional 155 shares in the last quarter. Finally, Disciplined Equity Management Inc. lifted its stake in Best Buy by 1.1% in the fourth quarter. Disciplined Equity Management Inc. now owns 15,093 shares of the technology retailer’s stock valued at $1,181,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group cut their price target on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Telsey Advisory Group raised shares of Best Buy from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $85.00 to $95.00 in a research report on Wednesday, March 20th. Truist Financial raised their price target on shares of Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. UBS Group increased their price objective on shares of Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. upgraded shares of Best Buy from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $89.00 to $101.00 in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Best Buy presently has an average rating of “Hold” and an average price target of $84.00.

Read Our Latest Stock Report on BBY

Insider Activity

In related news, EVP Kathleen Scarlett sold 5,096 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $416,852.80. Following the sale, the executive vice president now directly owns 76,226 shares of the company’s stock, valued at $6,235,286.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Corie S. Barry sold 366 shares of Best Buy 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 directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kathleen Scarlett sold 5,096 shares of Best Buy stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $416,852.80. Following the transaction, the executive vice president now directly owns 76,226 shares in the company, valued at $6,235,286.80. The disclosure for this sale can be found here. Insiders sold 52,023 shares of company stock worth $4,253,900 over the last three months. 0.59% of the stock is currently owned by corporate insiders.

Best Buy Trading Down 1.8 %

Shares of NYSE:BBY traded down $1.32 during trading on Tuesday, reaching $72.59. 2,018,795 shares of the company traded hands, compared to its average volume of 2,823,781. The firm has a market capitalization of $15.70 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 1.91 and a beta of 1.50. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $86.11. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average is $76.96 and its 200-day moving average is $74.81.

Best Buy (NYSE:BBYGet Free Report) last announced its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.21. The company had revenue of $14.65 billion during the quarter, compared to analyst estimates of $14.58 billion. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.61 earnings per share. As a group, analysts forecast that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.94 per share. The ex-dividend date was Wednesday, March 20th. This is an increase from Best Buy’s previous quarterly dividend of $0.92. This represents a $3.76 annualized dividend and a dividend yield of 5.18%. Best Buy’s dividend payout ratio (DPR) is presently 66.08%.

Best Buy Company 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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