Claro Advisors LLC Acquires 154 Shares of Best Buy Co., Inc. (NYSE:BBY)

Claro Advisors LLC raised its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.7% in the fourth quarter, HoldingsChannel reports. The firm owned 2,861 shares of the technology retailer’s stock after buying an additional 154 shares during the quarter. Claro Advisors LLC’s holdings in Best Buy were worth $246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BBY. Brookstone Capital Management raised its holdings in Best Buy by 3.5% in the 4th quarter. Brookstone Capital Management now owns 10,268 shares of the technology retailer’s stock worth $881,000 after purchasing an additional 351 shares in the last quarter. City Center Advisors LLC increased its position in shares of Best Buy by 40.2% during the fourth quarter. City Center Advisors LLC now owns 3,490 shares of the technology retailer’s stock valued at $299,000 after buying an additional 1,000 shares during the period. Czech National Bank raised its stake in Best Buy by 5.9% in the fourth quarter. Czech National Bank now owns 42,367 shares of the technology retailer’s stock worth $3,635,000 after buying an additional 2,379 shares in the last quarter. Graypoint LLC lifted its holdings in Best Buy by 8.7% in the fourth quarter. Graypoint LLC now owns 9,970 shares of the technology retailer’s stock worth $855,000 after buying an additional 799 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in Best Buy by 79.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 691 shares of the technology retailer’s stock valued at $59,000 after acquiring an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

BBY opened at $83.12 on Thursday. The company’s 50-day simple moving average is $87.60 and its two-hundred day simple moving average is $90.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The stock has a market capitalization of $17.77 billion, a P/E ratio of 14.21, a P/E/G ratio of 2.19 and a beta of 1.43. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. During the same quarter last year, the company earned $1.29 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s payout ratio is currently 64.27%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Truist Financial decreased their target price on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. StockNews.com lowered Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Telsey Advisory Group reduced their target price on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 26th. DA Davidson reissued a “buy” rating and set a $117.00 price target on shares of Best Buy in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.72.

Insider Activity at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.59% of the stock is owned by company insiders.

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.