Best Buy Co., Inc. (NYSE:BBY) Stake Decreased by Brown Advisory Inc.

Brown Advisory Inc. lessened its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 278,064 shares of the technology retailer's stock after selling 4,332 shares during the quarter. Brown Advisory Inc. owned approximately 0.13% of Best Buy worth $20,468,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. increased its holdings in shares of Best Buy by 108.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock worth $25,000 after buying an additional 178 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock worth $29,000 after buying an additional 311 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Best Buy during the 4th quarter worth $31,000. Atlas Capital Advisors Inc. increased its holdings in shares of Best Buy by 186.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock worth $32,000 after buying an additional 243 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of Best Buy by 18,700.0% during the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock worth $32,000 after buying an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Stock Down 2.5%

Shares of BBY stock traded down $1.83 during trading hours on Friday, hitting $71.89. 2,991,345 shares of the company were exchanged, compared to its average volume of 3,340,963. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 1.02. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $103.71. The business's 50-day simple moving average is $70.39 and its two-hundred day simple moving average is $75.12. The stock has a market capitalization of $15.19 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.90 and a beta of 1.24.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, topping the consensus estimate of $1.09 by $0.06. Best Buy had a net margin of 2.13% and a return on equity of 46.40%. The business had revenue of $8.77 billion for the quarter, compared to analysts' expectations of $8.77 billion. During the same quarter last year, the company posted $1.20 earnings per share. The company's quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th were issued a $0.95 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.29%. Best Buy's dividend payout ratio is currently 92.91%.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $72.95, for a total value of $53,195,212.95. Following the transaction, the chairman owned 196,100 shares of the company's stock, valued at $14,305,495. This trade represents a 78.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on BBY shares. UBS Group dropped their price objective on Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday, May 30th. Citigroup restated a "neutral" rating and set a $70.00 price objective (down from $93.00) on shares of Best Buy in a report on Thursday, April 3rd. Piper Sandler lowered their price target on Best Buy from $92.00 to $82.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Wedbush lowered their price target on Best Buy from $75.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Finally, DA Davidson reiterated a "buy" rating and issued a $110.00 price target on shares of Best Buy in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $86.11.

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.