Community Bank & Trust Waco Texas Increases Stake in Best Buy Co., Inc. (NYSE:BBY)

Community Bank & Trust Waco Texas increased its holdings in Best Buy Co., Inc. (NYSE:BBY) by 1.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,825 shares of the technology retailer’s stock after purchasing an additional 358 shares during the period. Community Bank & Trust Waco Texas’ holdings in Best Buy were worth $2,645,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CWM LLC boosted its position in Best Buy by 177.7% during the 3rd quarter. CWM LLC now owns 26,349 shares of the technology retailer’s stock valued at $2,722,000 after buying an additional 16,862 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Best Buy by 439.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,087 shares of the technology retailer’s stock valued at $217,000 after buying an additional 1,700 shares during the period. Gateway Investment Advisers LLC lifted its position in shares of Best Buy by 8.9% in the 3rd quarter. Gateway Investment Advisers LLC now owns 5,048 shares of the technology retailer’s stock worth $521,000 after purchasing an additional 414 shares during the period. Ritholtz Wealth Management lifted its position in shares of Best Buy by 2.2% in the 3rd quarter. Ritholtz Wealth Management now owns 16,070 shares of the technology retailer’s stock worth $1,660,000 after purchasing an additional 348 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Best Buy in the 3rd quarter worth about $248,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on BBY shares. DA Davidson reaffirmed a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research report on Tuesday, October 15th. Loop Capital reaffirmed a “buy” rating and issued a $100.00 target price on shares of Best Buy in a research report on Wednesday, December 18th. Morgan Stanley dropped their target price on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Barclays decreased their price target on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Finally, UBS Group decreased their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

Best Buy Stock Performance

BBY opened at $88.07 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The company has a market cap of $18.83 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 2.01 and a beta of 1.43. The company’s 50 day moving average is $85.86 and its 200 day moving average is $90.05. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71.

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

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 4.27%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio is currently 64.27%.

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy 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 transaction, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.