Hoxton Planning & Management LLC Purchases 124 Shares of Best Buy Co., Inc. (NYSE:BBY)

Hoxton Planning & Management LLC increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 3.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,481 shares of the technology retailer’s stock after acquiring an additional 124 shares during the period. Hoxton Planning & Management LLC’s holdings in Best Buy were worth $360,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. CIBC Private Wealth Group LLC acquired a new stake in shares of Best Buy in the 4th quarter valued at $644,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Best Buy by 204.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 21,791 shares of the technology retailer’s stock valued at $1,706,000 after purchasing an additional 14,623 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Best Buy by 16.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 738,950 shares of the technology retailer’s stock worth $57,845,000 after buying an additional 103,169 shares during the period. Schroder Investment Management Group increased its holdings in Best Buy by 22.2% in the fourth quarter. Schroder Investment Management Group now owns 275,809 shares of the technology retailer’s stock valued at $21,590,000 after purchasing an additional 50,093 shares during the last quarter. Finally, Bridgewater Associates LP increased its stake in Best Buy by 34.9% in the fourth quarter. Bridgewater Associates LP now owns 195,156 shares of the technology retailer’s stock valued at $15,277,000 after purchasing an additional 50,438 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 600,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $88.29, for a total transaction of $52,974,000.00. Following the completion of the sale, the chairman now directly owns 14,002,853 shares in the company, valued at $1,236,311,891.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Best Buy news, Chairman Richard M. Schulze sold 600,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $88.29, for a total transaction of $52,974,000.00. Following the sale, the chairman now directly owns 14,002,853 shares of the company’s stock, valued at $1,236,311,891.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 88,542 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the transaction, the chairman now directly owns 13,602,853 shares of the company’s stock, valued at $1,200,451,777.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,379,870 shares of company stock worth $121,942,706. Corporate insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on BBY shares. BNP Paribas upgraded shares of Best Buy to a “strong-buy” rating in a report on Thursday, August 29th. Piper Sandler reissued an “overweight” rating and issued a $114.00 target price (up previously from $100.00) on shares of Best Buy in a research report on Friday, August 30th. Bank of America raised their price target on shares of Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a research note on Friday, August 30th. Citigroup raised their target price on shares of Best Buy from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. raised their price objective on Best Buy from $101.00 to $111.00 and gave the company an “overweight” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.41.

Best Buy Price Performance

Shares of NYSE BBY opened at $98.33 on Wednesday. The business’s 50 day moving average is $92.80 and its 200-day moving average is $85.22. The firm has a market cap of $21.21 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 2.56 and a beta of 1.46. Best Buy Co., Inc. has a 1-year low of $62.30 and a 1-year high of $103.71. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating the consensus estimate of $1.16 by $0.18. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same period in the prior year, the company posted $1.22 earnings per share. Best Buy’s revenue was down 3.1% compared to the same quarter last year. Equities research analysts predict that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is presently 65.85%.

About Best Buy

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.