Community Bank & Trust Waco Texas Buys 11,631 Shares of Best Buy Co., Inc. (NYSE:BBY)

Community Bank & Trust Waco Texas boosted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 61.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,675 shares of the technology retailer’s stock after acquiring an additional 11,631 shares during the period. Community Bank & Trust Waco Texas’ holdings in Best Buy were worth $2,401,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC increased its stake in Best Buy by 549.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 302 shares during the period. Naples Money Management LLC bought a new position in shares of Best Buy in the 4th quarter valued at $27,000. Stonebridge Capital Advisors LLC increased its stake in shares of Best Buy by 81.9% in the 3rd 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. Hartford Financial Management Inc. increased its stake in shares of Best Buy by 56.5% in the 4th quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock valued at $30,000 after purchasing an additional 140 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in shares of Best Buy by 72.5% in the 4th quarter. CENTRAL TRUST Co now owns 1,004 shares of the technology retailer’s stock valued at $79,000 after purchasing an additional 422 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BBY. UBS Group lifted their price target on Best Buy from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Jefferies Financial Group decreased their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Truist Financial raised their price objective on Best Buy from $68.00 to $87.00 and gave the company a “hold” rating in a report on Friday, March 1st. Telsey Advisory Group raised Best Buy from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $85.00 to $95.00 in a report on Wednesday, March 20th. Finally, Wedbush raised their price objective on Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $84.60.

Best Buy Trading Down 1.6 %

Shares of NYSE:BBY traded down $1.21 during midday trading on Wednesday, reaching $73.83. The company’s stock had a trading volume of 1,431,259 shares, compared to its average volume of 2,973,381. The firm has a market capitalization of $15.90 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.96 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 firm has a 50 day moving average price of $77.98 and a two-hundred day moving average price of $74.07. Best Buy Co., Inc. has a fifty-two week low of $62.30 and a fifty-two week high of $86.11.

Best Buy (NYSE:BBY) last issued its 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 business had revenue of $14.65 billion during the quarter, compared to analyst estimates of $14.58 billion. During the same period in the previous year, the company posted $2.61 EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, analysts forecast that Best Buy Co., Inc. will post 6.03 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 5.09%. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date was Wednesday, March 20th. Best Buy’s payout ratio is presently 66.08%.

Insider Activity at Best Buy

In other Best Buy news, CAO Mathew Watson sold 2,505 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $204,909.00. Following the completion of the sale, the chief accounting officer now directly owns 25,638 shares of the company’s stock, valued at approximately $2,097,188.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Todd G. Hartman sold 3,973 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $324,991.40. Following the completion of the transaction, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 2,505 shares of the company’s 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 $204,909.00. Following the completion of the transaction, the chief accounting officer now directly owns 25,638 shares of the company’s stock, valued at $2,097,188.40. The disclosure for this sale can be found here. Insiders sold 52,023 shares of company stock valued at $4,253,900 in the last three months. Corporate insiders own 0.56% of the company’s stock.

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.