Unison Advisors LLC Boosts Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Unison Advisors LLC raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.1% in the 3rd quarter, Holdings Channel reports. The firm owned 28,619 shares of the technology retailer’s stock after acquiring an additional 307 shares during the period. Unison Advisors LLC’s holdings in Best Buy were worth $2,983,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC lifted its position in shares of Best Buy by 69.5% in the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after buying an additional 132 shares in the last quarter. Palisade Asset Management LLC purchased a new position in shares of Best Buy in the first quarter valued at $27,000. Richardson Financial Services Inc. increased its position in Best Buy by 190.9% in the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after purchasing an additional 210 shares during the last quarter. PrairieView Partners LLC raised its stake in Best Buy by 67.1% during the first quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 151 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in Best Buy during the second quarter valued at $35,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

BBY has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Loop Capital upped their price objective on Best Buy from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. lifted their target price on Best Buy from $101.00 to $111.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. BNP Paribas upgraded Best Buy to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Barclays lifted their price objective on shares of Best Buy from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Best Buy presently has an average rating of “Moderate Buy” and an average price target of $102.41.

Insider Transactions at Best Buy

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

Best Buy Trading Down 1.4 %

NYSE:BBY traded down $1.39 during midday trading on Thursday, hitting $97.25. The stock had a trading volume of 405,769 shares, compared to its average volume of 3,048,479. The stock has a 50-day moving average of $93.30 and a 200 day moving average of $85.43. The company has a market capitalization of $20.98 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 2.56 and a beta of 1.46. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $103.71. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37.

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

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) 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.