Peloton Wealth Strategists Sells 1,001 Shares of Best Buy Co., Inc. (NYSE:BBY)

Peloton Wealth Strategists cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBYFree Report) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,950 shares of the technology retailer’s stock after selling 1,001 shares during the period. Peloton Wealth Strategists’ holdings in Best Buy were worth $2,814,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of BBY. Hartford Financial Management Inc. lifted its holdings in Best Buy by 56.5% during the 4th quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock worth $30,000 after buying an additional 140 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Best Buy by 4.0% in the 4th quarter. UMB Bank n.a. now owns 3,839 shares of the technology retailer’s stock valued at $301,000 after purchasing an additional 148 shares during the period. Avory & Company LLC lifted its stake in shares of Best Buy by 2.6% in the 4th quarter. Avory & Company LLC now owns 6,011 shares of the technology retailer’s stock valued at $471,000 after purchasing an additional 154 shares during the period. Disciplined Equity Management Inc. lifted its stake in shares of Best Buy by 1.1% in the 4th quarter. Disciplined Equity Management Inc. now owns 15,093 shares of the technology retailer’s stock valued at $1,181,000 after purchasing an additional 160 shares during the period. Finally, Spire Wealth Management lifted its stake in shares of Best Buy by 7.3% in the 4th quarter. Spire Wealth Management now owns 2,380 shares of the technology retailer’s stock valued at $186,000 after purchasing an additional 161 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BBY shares. Telsey Advisory Group reissued an “outperform” rating and issued a $95.00 price target on shares of Best Buy in a research note on Thursday, May 30th. Wedbush restated a “neutral” rating and issued a $85.00 price objective on shares of Best Buy in a research report on Tuesday, May 28th. Barclays upped their price objective on shares of Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. Citigroup upgraded shares of Best Buy from a “sell” rating to a “buy” rating and upped their price objective for the company from $67.00 to $100.00 in a research report on Monday, June 3rd. Finally, Jefferies Financial Group lowered their price objective on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.47.

View Our Latest Stock Analysis on Best Buy

Best Buy Stock Performance

NYSE:BBY traded down $0.75 during mid-day trading on Friday, hitting $86.98. The stock had a trading volume of 1,723,573 shares, compared to its average volume of 3,094,920. Best Buy Co., Inc. has a twelve month low of $62.30 and a twelve month high of $89.00. The stock has a market cap of $18.76 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 2.79 and a beta of 1.49. The company’s 50 day simple moving average is $77.39 and its 200 day simple moving average is $76.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 1.01.

Best Buy (NYSE:BBYGet Free Report) last issued its earnings results on Thursday, May 30th. The technology retailer reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.12. Best Buy had a net margin of 2.90% and a return on equity of 47.56%. The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.96 billion. During the same period last year, the business posted $1.15 EPS. Best Buy’s revenue was down 6.5% on a year-over-year basis. On average, equities research analysts forecast that Best Buy Co., Inc. will post 6.11 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Thursday, June 20th will be paid a $0.94 dividend. The ex-dividend date is Thursday, June 20th. This represents a $3.76 annualized dividend and a yield of 4.32%. Best Buy’s dividend payout ratio (DPR) is currently 65.85%.

Insiders Place Their Bets

In other Best Buy news, CEO Corie S. Barry sold 366 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the sale, the chief executive officer now directly owns 431,231 shares in the company, valued at $32,670,060.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Kathleen Scarlett sold 5,096 shares of Best Buy stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $416,852.80. Following the completion of the sale, the executive vice president now directly owns 76,226 shares in the company, valued at $6,235,286.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Corie S. Barry sold 366 shares of Best Buy stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the sale, the chief executive officer now owns 431,231 shares of the company’s stock, valued at $32,670,060.56. The disclosure for this sale can be found here. Insiders sold 2,052,023 shares of company stock worth $170,313,900 over the last three months. Insiders own 0.59% of the company’s stock.

Best Buy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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