Mather Group LLC. Purchases Shares of 2,153 Best Buy Co., Inc. (NYSE:BBY)

Mather Group LLC. purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,153 shares of the technology retailer’s stock, valued at approximately $169,000.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Best Buy by 62.3% in the first quarter. GAMMA Investing LLC now owns 1,141 shares of the technology retailer’s stock worth $94,000 after buying an additional 438 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Best Buy by 82.1% in the first quarter. Los Angeles Capital Management LLC now owns 10,095 shares of the technology retailer’s stock worth $828,000 after buying an additional 4,550 shares during the period. CWM LLC increased its holdings in shares of Best Buy by 14.0% in the first quarter. CWM LLC now owns 3,457 shares of the technology retailer’s stock worth $284,000 after buying an additional 424 shares during the period. Cullen Investment Group LTD. increased its holdings in shares of Best Buy by 7.5% in the first quarter. Cullen Investment Group LTD. now owns 62,762 shares of the technology retailer’s stock worth $5,032,000 after buying an additional 4,382 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Best Buy in the fourth quarter worth about $231,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Activity

In other news, Chairman Richard M. Schulze sold 1,000,000 shares of Best Buy stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $85.85, for a total transaction of $85,850,000.00. Following the completion of the transaction, the chairman now directly owns 15,890,103 shares in the company, valued at $1,364,165,342.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Richard M. Schulze sold 1,000,000 shares of Best Buy stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $85.85, for a total transaction of $85,850,000.00. Following the completion of the transaction, the chairman now directly owns 15,890,103 shares in the company, valued at $1,364,165,342.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Corie S. Barry sold 366 shares of Best Buy stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the transaction, the chief executive officer now owns 431,231 shares of the company’s stock, valued at $32,670,060.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,004,149 shares of company stock worth $166,397,807. Insiders own 0.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BBY shares. Truist Financial decreased their price objective on Best Buy from $87.00 to $86.00 and set a “hold” rating on the stock in a report on Friday, May 31st. Jefferies Financial Group decreased their price objective on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Barclays raised their target price on Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. Telsey Advisory Group reissued an “outperform” rating and issued a $95.00 target price on shares of Best Buy in a research note on Thursday, May 30th. Finally, The Goldman Sachs Group raised their target price on Best Buy from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.87.

Best Buy Stock Performance

Best Buy stock opened at $92.38 on Friday. The stock’s 50 day simple moving average is $78.51 and its two-hundred day simple moving average is $77.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 1.01. The stock has a market cap of $19.93 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 3.02 and a beta of 1.49. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $93.72.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, May 30th. The technology retailer reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.96 billion. Best Buy had a return on equity of 47.56% and a net margin of 2.90%. The business’s revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 EPS. As a group, analysts expect that Best Buy Co., Inc. will post 6.11 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.94 per share. The ex-dividend date is Thursday, June 20th. This represents a $3.76 annualized dividend and a dividend yield of 4.07%. Best Buy’s payout ratio is 65.85%.

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.