Venturi Wealth Management LLC Has $116,000 Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Venturi Wealth Management LLC lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 77.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,352 shares of the technology retailer’s stock after selling 4,723 shares during the period. Venturi Wealth Management LLC’s holdings in Best Buy were worth $116,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Truist Financial Corp lifted its holdings in Best Buy by 11.7% during the fourth quarter. Truist Financial Corp now owns 29,357 shares of the technology retailer’s stock worth $2,519,000 after acquiring an additional 3,072 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Best Buy by 2.1% in the fourth quarter. CIBC Asset Management Inc now owns 34,976 shares of the technology retailer’s stock worth $3,001,000 after acquiring an additional 727 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of Best Buy by 29.7% in the fourth quarter. Principal Securities Inc. now owns 11,184 shares of the technology retailer’s stock worth $960,000 after acquiring an additional 2,563 shares in the last quarter. Manchester Capital Management LLC increased its holdings in shares of Best Buy by 75.2% in the fourth quarter. Manchester Capital Management LLC now owns 743 shares of the technology retailer’s stock worth $64,000 after acquiring an additional 319 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Best Buy by 1.2% in the fourth quarter. Rhumbline Advisers now owns 455,627 shares of the technology retailer’s stock worth $39,093,000 after acquiring an additional 5,212 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the subject of several recent analyst reports. StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Guggenheim lowered their price target on Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 29th. Truist Financial cut their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. UBS Group reduced their price objective on Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Loop Capital reaffirmed a “buy” rating and set a $100.00 price objective on shares of Best Buy in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Trading Down 1.3 %

Shares of NYSE:BBY opened at $89.80 on Friday. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The company has a market capitalization of $19.20 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 2.13 and a beta of 1.43. The company has a 50-day simple moving average of $86.10 and a 200 day simple moving average of $90.30. 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 (NYSE:BBY) last issued its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. During the same quarter last year, the business posted $1.29 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were paid a $0.94 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.19%. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

Insider Activity 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 shares were sold at an average price of $87.46, for a total value 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 approximately $8,052,442.20. This trade represents a 42.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.59% of the stock is currently owned by company insiders.

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.