Donoghue Forlines LLC Purchases 5,758 Shares of Best Buy Co., Inc. (NYSE:BBY)

Donoghue Forlines LLC raised its position in Best Buy Co., Inc. (NYSE:BBY) by 46.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,099 shares of the technology retailer’s stock after acquiring an additional 5,758 shares during the period. Donoghue Forlines LLC’s holdings in Best Buy were worth $1,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BBY. Janney Montgomery Scott LLC increased its position in Best Buy by 60.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,670 shares of the technology retailer’s stock valued at $1,430,000 after buying an additional 6,274 shares in the last quarter. Janney Capital Management LLC grew its stake in shares of Best Buy by 64.6% during the fourth quarter. Janney Capital Management LLC now owns 175,841 shares of the technology retailer’s stock worth $15,087,000 after acquiring an additional 68,990 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Best Buy by 6.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 55,516 shares of the technology retailer’s stock valued at $4,815,000 after acquiring an additional 3,132 shares in the last quarter. Alpha Cubed Investments LLC raised its position in shares of Best Buy by 4.2% in the 4th quarter. Alpha Cubed Investments LLC now owns 7,595 shares of the technology retailer’s stock valued at $652,000 after purchasing an additional 304 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in Best Buy by 11.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 37,430 shares of the technology retailer’s stock worth $3,211,000 after purchasing an additional 3,783 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Price Performance

NYSE:BBY opened at $84.42 on Thursday. 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 Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71. The stock’s 50-day moving average price is $86.77 and its 200-day moving average price is $90.17. The stock has a market capitalization of $18.05 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 2.12 and a beta of 1.43.

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

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio 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 business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

BBY has been the topic of a number of recent analyst reports. Guggenheim cut their price target on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Truist Financial reduced their target price on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. DA Davidson reiterated a “buy” rating and set a $117.00 price target on shares of Best Buy in a research note on Tuesday, October 15th. Finally, Loop Capital restated a “buy” rating and issued a $100.00 price objective on shares of Best Buy in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Best Buy presently has an average rating of “Moderate Buy” and an average 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.