Linden Thomas Advisory Services LLC Sells 136 Shares of Best Buy Co., Inc. (NYSE:BBY)

Linden Thomas Advisory Services LLC decreased its position in Best Buy Co., Inc. (NYSE:BBY) by 0.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,435 shares of the technology retailer’s stock after selling 136 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Best Buy were worth $1,324,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BBY. Trust Co. of Vermont raised its stake in shares of Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after acquiring an additional 384 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Best Buy during the 3rd quarter valued at about $40,000. LRI Investments LLC lifted its holdings in Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after buying an additional 335 shares during the period. Brooklyn Investment Group bought a new stake in shares of Best Buy in the 3rd quarter worth approximately $44,000. Finally, Hershey Financial Advisers LLC purchased a new position in shares of Best Buy during the second quarter valued at approximately $48,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial reduced their price objective on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Loop Capital reissued a “buy” rating and issued a $100.00 target price on shares of Best Buy in a research report on Wednesday, December 18th. DA Davidson restated a “buy” rating and set a $117.00 price target on shares of Best Buy in a research report on Tuesday, October 15th. Finally, Morgan Stanley decreased their price objective on Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Best Buy has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Insider Buying and Selling

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

Best Buy Price Performance

Shares of NYSE:BBY opened at $84.80 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The firm has a market cap of $18.13 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.43. The business has a 50-day simple moving average of $86.49 and a two-hundred day simple moving average of $90.14. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.43%. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

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.