Concurrent Investment Advisors LLC Buys 200 Shares of Best Buy Co., Inc. (NYSE:BBY)

Concurrent Investment Advisors LLC lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,467 shares of the technology retailer’s stock after acquiring an additional 200 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Best Buy were worth $2,357,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Greenleaf Trust boosted its stake in shares of Best Buy by 1.2% during the 3rd quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock worth $977,000 after acquiring an additional 108 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Best Buy by 0.5% during the 4th quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock worth $2,566,000 after acquiring an additional 145 shares in the last quarter. Access Investment Management LLC boosted its stake in shares of Best Buy by 12.2% during the 3rd quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock worth $143,000 after acquiring an additional 150 shares in the last quarter. Claro Advisors LLC lifted its position in shares of Best Buy by 5.7% during the 4th quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock worth $246,000 after purchasing an additional 154 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its position in shares of Best Buy by 14.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,243 shares of the technology retailer’s stock worth $107,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Citigroup cut their price objective on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Barclays cut their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Loop Capital reissued a “buy” rating and set a $100.00 price objective on shares of Best Buy in a research report on Wednesday, December 18th. Truist Financial cut their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Finally, StockNews.com cut Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

Best Buy Stock Down 1.3 %

NYSE BBY opened at $89.80 on Friday. The firm has a market cap of $19.20 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 2.13 and a beta of 1.43. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The stock’s 50 day simple moving average is $86.05 and its 200 day simple moving average is $90.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

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

Best Buy Dividend Announcement

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

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction on 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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.59% of the company’s stock.

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.