Brown Advisory Inc. Has $24.23 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

Brown Advisory Inc. raised its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,396 shares of the technology retailer's stock after acquiring an additional 8,177 shares during the period. Brown Advisory Inc. owned about 0.13% of Best Buy worth $24,230,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BBY. Wilmington Savings Fund Society FSB bought a new stake in Best Buy during the 3rd quarter worth $247,000. Franklin Resources Inc. increased its stake in shares of Best Buy by 36.5% in the third quarter. Franklin Resources Inc. now owns 753,471 shares of the technology retailer's stock valued at $73,016,000 after buying an additional 201,562 shares during the period. Retirement Systems of Alabama raised its holdings in Best Buy by 0.7% in the 3rd quarter. Retirement Systems of Alabama now owns 42,782 shares of the technology retailer's stock valued at $4,419,000 after buying an additional 306 shares during the last quarter. Principal Financial Group Inc. boosted its position in Best Buy by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 247,510 shares of the technology retailer's stock worth $25,568,000 after buying an additional 4,958 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Best Buy by 16.4% during the 4th quarter. GAMMA Investing LLC now owns 3,081 shares of the technology retailer's stock worth $264,000 after acquiring an additional 434 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Best Buy Trading Down 1.3 %

BBY opened at $66.78 on Wednesday. The company has a fifty day moving average price of $69.22 and a two-hundred day moving average price of $81.43. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.71. The company has a market cap of $14.12 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 2.10 and a beta of 1.27. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $13.95 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same period in the previous year, the company posted $2.72 EPS. Analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were given a $0.95 dividend. The ex-dividend date was Tuesday, March 25th. This represents a $3.80 annualized dividend and a yield of 5.69%. This is an increase from Best Buy's previous quarterly dividend of $0.94. Best Buy's dividend payout ratio (DPR) is presently 88.99%.

Insider Buying and Selling at Best Buy

In related news, CFO Matthew M. Bilunas sold 51,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $74.20, for a total value of $3,784,200.00. Following the completion of the sale, the chief financial officer now directly owns 55,856 shares of the company's stock, valued at approximately $4,144,515.20. This represents a 47.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Corie S. Barry acquired 13,500 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the purchase, the chief executive officer now owns 378,780 shares in the company, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 78,355 shares of company stock worth $5,767,213. 0.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on BBY shares. Truist Financial cut their price target on shares of Best Buy from $81.00 to $64.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Guggenheim cut their target price on Best Buy from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Morgan Stanley decreased their price target on Best Buy from $100.00 to $85.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Piper Sandler cut their price objective on Best Buy from $102.00 to $92.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Finally, Citigroup reissued a "neutral" rating and set a $70.00 target price (down previously from $93.00) on shares of Best Buy in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $91.28.

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.

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