Weaver C. Barksdale & Associates Inc. Has $1.32 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Weaver C. Barksdale & Associates Inc. lowered its position in Best Buy Co., Inc. (NYSE:BBY) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,384 shares of the technology retailer’s stock after selling 381 shares during the quarter. Weaver C. Barksdale & Associates Inc.’s holdings in Best Buy were worth $1,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in BBY. IFP Advisors Inc grew its stake in shares of Best Buy by 5.2% in the fourth quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock worth $218,000 after purchasing an additional 125 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of Best Buy by 19.7% in the fourth quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer’s stock valued at $74,000 after buying an additional 142 shares during the period. Independent Advisor Alliance raised its position in shares of Best Buy by 5.0% during the fourth quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer’s stock worth $258,000 after acquiring an additional 142 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Best Buy by 0.5% in the fourth quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock worth $2,566,000 after acquiring an additional 145 shares during the period. Finally, Claro Advisors LLC boosted its holdings in Best Buy by 5.7% in the fourth quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock valued at $246,000 after acquiring an additional 154 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. DA Davidson dropped their price target on shares of Best Buy from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their price objective on Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. UBS Group set a $105.00 price objective on Best Buy in a research note on Wednesday, March 5th. Truist Financial lowered their target price on Best Buy from $95.00 to $81.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Finally, Bank of America cut their price target on Best Buy from $80.00 to $75.00 and set an “underperform” rating on the stock in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $93.50.

Best Buy Price Performance

BBY opened at $74.63 on Wednesday. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The firm’s fifty day moving average price is $83.01 and its two-hundred day moving average price is $88.68. The company has a market capitalization of $15.77 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.18. The company had revenue of $13.95 billion during the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period in the prior year, the company posted $2.72 earnings per share. As a group, analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be issued a $0.95 dividend. This is an increase from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Tuesday, March 25th. Best Buy’s payout ratio is 88.99%.

Insider Activity at Best Buy

In other news, CEO Corie S. Barry purchased 13,500 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $72.92 per share, with a total value of $984,420.00. Following the transaction, the chief executive officer now directly owns 378,780 shares of the company’s stock, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mathew Watson sold 3,182 shares of Best Buy stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $71.29, for a total value of $226,844.78. Following the completion of the sale, the chief accounting officer now directly owns 19,218 shares of the company’s stock, valued at approximately $1,370,051.22. This trade represents a 14.21 % decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is owned by company insiders.

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.