Kintegral Advisory LLC Has $1.27 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

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

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on BBY shares. Loop Capital reduced their target price on shares of Best Buy from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. BNP Paribas upgraded shares of Best Buy to a "hold" rating in a research note on Friday, May 30th. Truist Financial boosted their target price on shares of Best Buy from $64.00 to $69.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Telsey Advisory Group restated an "outperform" rating and issued a $90.00 target price on shares of Best Buy in a research note on Friday, May 30th. Finally, UBS Group reduced their target price on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. 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. According to MarketBeat.com, Best Buy has a consensus rating of "Hold" and a consensus target price of $86.11.

Best Buy Trading Up 2.5%

Best Buy stock traded up $1.77 during trading hours on Tuesday, reaching $72.28. 3,914,981 shares of the company's stock traded hands, compared to its average volume of 3,339,214. 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 fifty-two week low of $54.99 and a fifty-two week high of $103.71. The firm has a market capitalization of $15.28 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.86 and a beta of 1.24. The firm's 50 day moving average is $70.07 and its 200-day moving average is $75.40.

Best Buy (NYSE:BBY - Get Free Report) last released 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 company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.77 billion. During the same period in the prior year, the company posted $1.20 EPS. The company's revenue was down .9% compared to the same quarter last year. On average, analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th will be given a dividend of $0.95 per share. The ex-dividend date is Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.26%. Best Buy's payout ratio is presently 92.91%.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $72.95, for a total transaction 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 represents a 78.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.59% 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.