Diversified Trust Co Has $436,000 Holdings in Best Buy Co., Inc. (NYSE:BBY)

Diversified Trust Co decreased its stake in Best Buy Co., Inc. (NYSE:BBY) by 25.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,085 shares of the technology retailer’s stock after selling 1,743 shares during the quarter. Diversified Trust Co’s holdings in Best Buy were worth $436,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Park Avenue Securities LLC boosted its stake in shares of Best Buy by 1.3% in the 3rd quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock valued at $855,000 after purchasing an additional 103 shares in the last quarter. Greenleaf Trust lifted its holdings in Best Buy by 1.2% during the 3rd quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock valued at $977,000 after purchasing an additional 108 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in Best Buy by 4.6% in the third quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock valued at $276,000 after buying an additional 118 shares in the last quarter. Hoxton Planning & Management LLC boosted its position in Best Buy by 3.7% in the third quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer’s stock valued at $360,000 after buying an additional 124 shares in the last quarter. Finally, Access Investment Management LLC grew its stake in Best Buy by 12.2% during the third quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock worth $143,000 after buying an additional 150 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Stock Performance

Shares of Best Buy stock opened at $83.22 on Friday. Best Buy Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71. 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 stock has a market capitalization of $17.79 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 2.19 and a beta of 1.43. The firm has a fifty day moving average of $87.97 and a two-hundred day moving average of $90.15.

Best Buy (NYSE:BBY) last released its earnings results 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). The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. As a group, equities research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s payout ratio is presently 64.27%.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction dated Wednesday, December 11th. The stock was 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 in the company, valued at $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BBY shares. Truist Financial reduced their target price on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Loop Capital reissued a “buy” rating and issued a $100.00 price objective on shares of Best Buy in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 27th. JPMorgan Chase & Co. upped their price target on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.72.

About Best Buy

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.