Ghe LLC Has $1.42 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

Ghe LLC boosted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,154 shares of the technology retailer’s stock after buying an additional 302 shares during the quarter. Best Buy makes up 0.9% of Ghe LLC’s holdings, making the stock its 29th biggest holding. Ghe LLC’s holdings in Best Buy were worth $1,421,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BBY. Atria Wealth Solutions Inc. raised its position in Best Buy by 98.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 13,062 shares of the technology retailer’s stock valued at $1,032,000 after purchasing an additional 6,465 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in Best Buy in the fourth quarter valued at about $1,031,000. Bfsg LLC bought a new position in Best Buy in the fourth quarter valued at about $25,000. NewSquare Capital LLC raised its position in shares of Best Buy by 3.1% during the fourth quarter. NewSquare Capital LLC now owns 88,933 shares of the technology retailer’s stock worth $6,853,000 after acquiring an additional 2,651 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Best Buy during the fourth quarter worth about $51,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Down 0.8 %

Shares of NYSE BBY traded down $0.61 during midday trading on Wednesday, hitting $74.43. 3,493,339 shares of the stock traded hands, compared to its average volume of 3,000,345. The business has a 50 day moving average price of $77.98 and a two-hundred day moving average price of $74.08. The company has a market cap of $16.03 billion, a PE ratio of 13.08, a P/E/G ratio of 1.96 and a beta of 1.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $86.11.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.21. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The business had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $14.58 billion. During the same quarter in the prior year, the firm posted $2.61 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts predict that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were issued a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $3.76 annualized dividend and a dividend yield of 5.05%. This is a boost from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s dividend payout ratio (DPR) is presently 66.08%.

Insider Buying and Selling at Best Buy

In other news, insider Todd G. Hartman sold 3,973 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $324,991.40. Following the transaction, the insider now directly owns 25,912 shares in the company, valued at approximately $2,119,601.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Corie S. Barry sold 366 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $32,670,060.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Todd G. Hartman sold 3,973 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $324,991.40. Following the transaction, the insider now owns 25,912 shares in the company, valued at $2,119,601.60. The disclosure for this sale can be found here. Insiders have sold a total of 52,023 shares of company stock valued at $4,253,900 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. UBS Group raised their price objective on Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Barclays raised their price objective on Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Morgan Stanley raised their price objective on Best Buy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Truist Financial lifted their target price on Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. raised Best Buy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $89.00 to $101.00 in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Best Buy presently has a consensus rating of “Hold” and an average target price of $84.60.

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.