Brown Advisory Inc. Has $20.47 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

Brown Advisory Inc. reduced its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,064 shares of the technology retailer's stock after selling 4,332 shares during the period. Brown Advisory Inc. owned 0.13% of Best Buy worth $20,468,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mariner LLC increased its stake in shares of Best Buy by 0.3% in the fourth quarter. Mariner LLC now owns 43,215 shares of the technology retailer's stock valued at $3,708,000 after buying an additional 129 shares in the last quarter. LRI Investments LLC grew its holdings in Best Buy by 36.3% during the 4th quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock worth $45,000 after acquiring an additional 141 shares during the last quarter. Independent Advisor Alliance grew its holdings in Best Buy by 5.0% during the 4th quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer's stock worth $258,000 after acquiring an additional 142 shares during the last quarter. Prosperity Consulting Group LLC increased its position in Best Buy by 6.4% in the 4th quarter. Prosperity Consulting Group LLC now owns 2,404 shares of the technology retailer's stock valued at $206,000 after acquiring an additional 145 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Best Buy by 25.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer's stock worth $53,000 after acquiring an additional 147 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler lowered their price target on shares of Best Buy from $92.00 to $82.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Wells Fargo & Company decreased their price objective on Best Buy from $75.00 to $67.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Barclays dropped their target price on Best Buy from $89.00 to $74.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Guggenheim reaffirmed a "buy" rating and set a $90.00 price target on shares of Best Buy in a research note on Tuesday, June 10th. Finally, Truist Financial lifted their price objective on Best Buy from $64.00 to $69.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. One 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 presently has a consensus rating of "Hold" and a consensus price target of $86.11.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 729,201 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the completion of the sale, the chairman directly owned 196,100 shares of the company's stock, valued at approximately $14,305,495. This represents a 78.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is owned by company insiders.

Best Buy Trading Down 2.5%

NYSE:BBY traded down $1.83 during trading hours on Friday, hitting $71.89. The stock had a trading volume of 2,991,345 shares, compared to its average volume of 3,337,294. The business's 50 day moving average is $70.39 and its 200-day moving average is $75.20. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 1.02. The company has a market cap of $15.19 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.95 and a beta of 1.24. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $103.71.

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

Best Buy Dividend Announcement

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

About Best Buy

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.