Trust Co. of Vermont Acquires 384 Shares of Best Buy Co., Inc. (NYSE:BBY)

Trust Co. of Vermont increased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 1,200.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 416 shares of the technology retailer’s stock after purchasing an additional 384 shares during the quarter. Trust Co. of Vermont’s holdings in Best Buy were worth $36,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. QRG Capital Management Inc. boosted its stake in shares of Best Buy by 10.5% during the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock worth $3,279,000 after buying an additional 3,025 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Best Buy by 27.4% during the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock valued at $9,332,000 after purchasing an additional 19,405 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Best Buy by 13.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock valued at $15,806,000 after purchasing an additional 18,171 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Best Buy during the 3rd quarter worth approximately $2,384,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Best Buy by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock valued at $636,840,000 after buying an additional 241,988 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the sale, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.59% of the company’s stock.

Best Buy Stock Performance

NYSE:BBY opened at $81.91 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 2.09 and a beta of 1.43. The stock has a fifty day moving average price of $87.17 and a 200-day moving average price of $90.21.

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

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s payout ratio is presently 64.27%.

Analyst Ratings Changes

BBY has been the topic of several analyst reports. Loop Capital reaffirmed a “buy” rating and set a $100.00 price target on shares of Best Buy in a research report on Wednesday, December 18th. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. UBS Group dropped their price objective on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. DA Davidson reiterated a “buy” rating and set a $117.00 target price on shares of Best Buy in a research note on Tuesday, October 15th. Finally, Truist Financial dropped their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.72.

Best Buy Company 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.