Best Buy Co., Inc. (NYSE:BBY) Stake Lessened by Kintegral Advisory LLC

Kintegral Advisory LLC cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,008 shares of the technology retailer's stock after selling 8,344 shares during the period. Kintegral Advisory LLC's holdings in Best Buy were worth $1,268,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Best Buy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer's stock valued at $1,971,908,000 after purchasing an additional 191,161 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Best Buy by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 5,092,820 shares of the technology retailer's stock valued at $436,210,000 after acquiring an additional 239,840 shares in the last quarter. Invesco Ltd. lifted its position in shares of Best Buy by 20.5% in the 4th quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer's stock valued at $316,784,000 after acquiring an additional 629,180 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Best Buy by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,157,432 shares of the technology retailer's stock valued at $270,910,000 after acquiring an additional 146,267 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Best Buy by 31.3% in the 4th quarter. Northern Trust Corp now owns 2,942,832 shares of the technology retailer's stock valued at $252,495,000 after acquiring an additional 701,287 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Performance

Shares of BBY opened at $71.89 on Friday. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $103.71. The company's fifty day moving average is $69.89 and its 200-day moving average is $75.67. The company has a quick ratio of 0.32, a current ratio of 1.02 and a debt-to-equity ratio of 0.42. The firm has a market cap of $15.19 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24.

Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $8.77 billion. During the same period last year, the business posted $1.20 EPS. Best Buy's revenue was down .9% compared to the same quarter last year. Equities analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on BBY. DA Davidson restated a "buy" rating and issued a $110.00 price target on shares of Best Buy in a research report on Monday, April 14th. Wedbush cut their target price on shares of Best Buy from $75.00 to $70.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Piper Sandler cut their target price on shares of Best Buy from $92.00 to $82.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Truist Financial increased their target price on shares of Best Buy from $64.00 to $69.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Finally, Guggenheim reiterated a "buy" rating and issued a $90.00 target price on shares of Best Buy in a research report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $86.11.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 729,201 shares of the firm's stock in a transaction on 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 directly owned 196,100 shares in the company, valued at approximately $14,305,495. This trade represents a 78.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.47% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.