Mutual of America Capital Management LLC Sells 1,255 Shares of Best Buy Co., Inc. (NYSE:BBY)

Mutual of America Capital Management LLC decreased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,959 shares of the technology retailer’s stock after selling 1,255 shares during the period. Mutual of America Capital Management LLC’s holdings in Best Buy were worth $2,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cary Street Partners Investment Advisory LLC grew its position in shares of Best Buy by 549.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 302 shares during the last quarter. Stonebridge Capital Advisors LLC grew its position in shares of Best Buy by 81.9% in the third quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock valued at $29,000 after purchasing an additional 185 shares during the last quarter. Clear Street Markets LLC grew its position in shares of Best Buy by 90.6% in the first quarter. Clear Street Markets LLC now owns 385 shares of the technology retailer’s stock valued at $30,000 after purchasing an additional 183 shares during the last quarter. Clearstead Advisors LLC grew its position in shares of Best Buy by 30.5% in the third quarter. Clearstead Advisors LLC now owns 724 shares of the technology retailer’s stock valued at $46,000 after purchasing an additional 169 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Best Buy in the first quarter valued at approximately $48,000. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Up 0.2 %

Shares of BBY opened at $76.15 on Friday. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $86.11. The stock has a market capitalization of $16.40 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.98 and a beta of 1.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. The stock has a fifty day moving average of $77.96 and a 200-day moving average of $73.94.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.21. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The company had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.58 billion. During the same period in the prior year, the company earned $2.61 EPS. Best Buy’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.03 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.94%. This is a boost from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, March 20th. Best Buy’s dividend payout ratio is presently 66.08%.

Insider Buying and Selling

In related news, CEO Corie S. Barry sold 366 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the transaction, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Corie S. Barry sold 366 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the transaction, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kathleen Scarlett sold 5,096 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $416,852.80. Following the transaction, the executive vice president now directly owns 76,226 shares of the company’s stock, valued at $6,235,286.80. The disclosure for this sale can be found here. Insiders sold a total of 52,023 shares of company stock valued at $4,253,900 in the last three months. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Best Buy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. raised Best Buy from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $89.00 to $101.00 in a research report on Friday, March 22nd. Citigroup increased their price target on Best Buy from $67.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. Truist Financial increased their price target on Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. Finally, Barclays increased their price target on Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $84.60.

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.