Impact Partnership Wealth LLC Grows Position in Best Buy Co., Inc. (NYSE:BBY)

Impact Partnership Wealth LLC raised its stake in Best Buy Co., Inc. (NYSE:BBY) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,938 shares of the technology retailer’s stock after acquiring an additional 1,991 shares during the period. Impact Partnership Wealth LLC’s holdings in Best Buy were worth $1,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy in the third quarter valued at approximately $40,000. LRI Investments LLC raised its stake in shares of Best Buy by 632.1% during the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after acquiring an additional 335 shares in the last quarter. Trust Co. of Vermont lifted its position in Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after acquiring an additional 384 shares during the period. Brooklyn Investment Group acquired a new position in Best Buy in the third quarter valued at approximately $44,000. Finally, Abich Financial Wealth Management LLC boosted its position in Best Buy by 959.6% during the third quarter. Abich Financial Wealth Management LLC now owns 551 shares of the technology retailer’s stock worth $57,000 after purchasing an additional 499 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling

In other 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 transaction of $6,049,258.36. Following the sale, the chief financial officer now 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.59% of the company’s stock.

Best Buy Stock Up 2.0 %

Shares of BBY opened at $85.58 on Friday. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The stock has a market cap of $18.30 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 2.11 and a beta of 1.43. The company has a 50-day moving average price of $86.77 and a two-hundred day moving average price of $90.17. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last released its quarterly earnings results 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). The business had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share. Equities analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.39%. Best Buy’s payout ratio is currently 64.27%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BBY shares. Truist Financial dropped their price target 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. Morgan Stanley lowered their price objective on Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday. Guggenheim decreased their price objective on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 29th. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, UBS Group reduced their price objective on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Best Buy presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

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.