Best Buy Co., Inc. (NYSE:BBY) Shares Sold by Mather Group LLC.

Mather Group LLC. trimmed its holdings in Best Buy Co., Inc. (NYSE:BBY) by 21.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,354 shares of the technology retailer’s stock after selling 662 shares during the period. Mather Group LLC.’s holdings in Best Buy were worth $243,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC raised its position in shares of Best Buy by 69.5% in the 1st quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock valued at $26,000 after purchasing an additional 132 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in shares of Best Buy during the 1st quarter valued at approximately $27,000. Richardson Financial Services Inc. raised its position in shares of Best Buy by 190.9% during the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock valued at $27,000 after acquiring an additional 210 shares in the last quarter. PrairieView Partners LLC raised its position in shares of Best Buy by 67.1% during the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock valued at $31,000 after acquiring an additional 151 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Best Buy during the 2nd quarter valued at approximately $35,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Trading Down 0.1 %

NYSE:BBY opened at $97.47 on Friday. The business has a fifty day moving average of $93.53 and a 200-day moving average of $85.51. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $103.71. The stock has a market cap of $20.93 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.58 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.18. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter last year, the business posted $1.22 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Equities analysts predict that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 annualized dividend and a yield of 3.86%. Best Buy’s dividend payout ratio is currently 64.83%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BBY. Citigroup upped their price target on Best Buy from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. UBS Group upped their price target on Best Buy from $106.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Loop Capital increased their target price on Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. increased their target price on Best Buy from $101.00 to $111.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Finally, Evercore ISI increased their target price on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.41.

Insider Activity

In other news, Chairman Richard M. Schulze sold 691,328 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the completion of the sale, the chairman now directly owns 14,911,525 shares of the company’s stock, valued at $1,319,073,501.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Richard M. Schulze sold 600,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $88.29, for a total value of $52,974,000.00. Following the completion of the sale, the chairman now directly owns 14,002,853 shares of the company’s stock, valued at approximately $1,236,311,891.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 691,328 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $88.46, for a total value of $61,154,874.88. Following the sale, the chairman now directly owns 14,911,525 shares of the company’s stock, valued at $1,319,073,501.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,379,870 shares of company stock valued at $121,942,706 over the last three months. Insiders own 0.59% of the company’s stock.

Best Buy 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.