Transamerica Financial Advisors LLC Has $688,000 Position in Best Buy Co., Inc. $BBY

Transamerica Financial Advisors LLC boosted its holdings in Best Buy Co., Inc. (NYSE:BBY) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,343 shares of the technology retailer’s stock after purchasing an additional 180 shares during the quarter. Transamerica Financial Advisors LLC’s holdings in Best Buy were worth $688,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BBY. Pacer Advisors Inc. grew its position in Best Buy by 3,890.0% in the 1st quarter. Pacer Advisors Inc. now owns 1,023,677 shares of the technology retailer’s stock valued at $75,353,000 after purchasing an additional 998,021 shares during the period. Northern Trust Corp boosted its holdings in Best Buy by 31.3% during the 4th quarter. Northern Trust Corp now owns 2,942,832 shares of the technology retailer’s stock worth $252,495,000 after acquiring an additional 701,287 shares during the last quarter. Nuveen LLC purchased a new position in Best Buy during the 1st quarter worth $39,579,000. Charles Schwab Investment Management Inc. boosted its holdings in Best Buy by 6.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock worth $512,986,000 after acquiring an additional 408,605 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Best Buy during the 4th quarter worth $29,090,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BBY. Loop Capital lowered their target price on Best Buy from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. BNP Paribas upgraded Best Buy to a “hold” rating in a research note on Friday, May 30th. Wedbush lowered their target price on Best Buy from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. Truist Financial lifted their target price on Best Buy from $64.00 to $69.00 and gave the stock a “hold” rating in a research note on Friday, May 30th. Finally, Guggenheim reiterated a “buy” rating and set a $90.00 target price on shares of Best Buy in a research note on Tuesday, June 10th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.50.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 729,201 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the completion of the transaction, the chairman owned 196,100 shares of the company’s stock, valued at approximately $14,305,495. The trade was a 78.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

Best Buy Trading Up 2.4%

Shares of Best Buy stock opened at $75.45 on Thursday. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $103.71. The stock’s 50-day simple moving average is $69.60 and its 200 day simple moving average is $71.67. The stock has a market capitalization of $15.95 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.95 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 1.02.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.06. Best Buy had a return on equity of 46.40% and a net margin of 2.13%.The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.77 billion. During the same period in the previous year, the business posted $1.20 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. As a group, research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th were given a dividend of $0.95 per share. The ex-dividend date was Wednesday, June 18th. This represents a $3.80 annualized dividend and a dividend yield of 5.0%. Best Buy’s dividend payout ratio is currently 92.91%.

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.