10,705 Shares in Best Buy Co., Inc. (NYSE:BBY) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new position in Best Buy Co., Inc. (NYSE:BBY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,705 shares of the technology retailer’s stock, valued at approximately $902,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BBY. Strategic Investment Solutions Inc. IL acquired a new position in shares of Best Buy during the second quarter worth approximately $60,000. SPC Financial Inc. grew its position in Best Buy by 12.3% in the 2nd quarter. SPC Financial Inc. now owns 4,442 shares of the technology retailer’s stock worth $374,000 after purchasing an additional 486 shares during the last quarter. Chase Investment Counsel Corp acquired a new position in shares of Best Buy during the second quarter valued at about $270,000. Hershey Financial Advisers LLC bought a new stake in shares of Best Buy in the second quarter valued at about $48,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Best Buy during the second quarter worth about $210,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 600,000 shares of the stock in a transaction on 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 transaction, the chairman now directly owns 14,002,853 shares in the company, valued at approximately $1,236,311,891.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Richard M. Schulze sold 600,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $88.29, for a total value of $52,974,000.00. Following the transaction, the chairman now owns 14,002,853 shares of the company’s stock, valued at approximately $1,236,311,891.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 88,542 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the sale, the chairman now directly owns 13,602,853 shares of the company’s stock, valued at approximately $1,200,451,777.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,379,870 shares of company stock worth $121,942,706 in the last quarter. Insiders own 0.59% of the company’s stock.

Best Buy Trading Down 0.1 %

Shares of BBY opened at $97.44 on Friday. The stock has a fifty day moving average price of $93.84 and a two-hundred day moving average price of $85.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. The company has a market cap of $20.92 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 2.58 and a beta of 1.46. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $103.71.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business posted $1.22 earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. Analysts predict that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on BBY. Piper Sandler reiterated an “overweight” rating and issued a $114.00 price objective (up previously from $100.00) on shares of Best Buy in a research report on Friday, August 30th. The Goldman Sachs Group raised their target price on Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays boosted their price target on shares of Best Buy from $81.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Citigroup lifted their target price on shares of Best Buy from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Melius Research initiated coverage on shares of Best Buy in a research report on Monday, September 23rd. They issued a “hold” rating and a $100.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Best Buy has an average rating of “Moderate Buy” and a consensus price target of $102.41.

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.