4,800 Shares in Best Buy Co., Inc. (NYSE:BBY) Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,800 shares of the technology retailer’s stock, valued at approximately $376,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. increased its stake in Best Buy by 56.5% during the fourth quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock valued at $30,000 after acquiring an additional 140 shares during the period. UMB Bank n.a. increased its stake in Best Buy by 4.0% during the fourth quarter. UMB Bank n.a. now owns 3,839 shares of the technology retailer’s stock valued at $301,000 after acquiring an additional 148 shares during the period. Allworth Financial LP increased its stake in Best Buy by 14.6% during the third quarter. Allworth Financial LP now owns 1,215 shares of the technology retailer’s stock valued at $84,000 after acquiring an additional 155 shares during the period. Pathstone Family Office LLC increased its stake in Best Buy by 2.2% during the fourth quarter. Pathstone Family Office LLC now owns 7,321 shares of the technology retailer’s stock valued at $593,000 after acquiring an additional 157 shares during the period. Finally, Estate Counselors LLC increased its stake in Best Buy by 1.1% during the third quarter. Estate Counselors LLC now owns 15,290 shares of the technology retailer’s stock valued at $1,062,000 after acquiring an additional 160 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Best Buy Stock Down 0.3 %

NYSE:BBY opened at $76.00 on Friday. The stock’s fifty day moving average price is $77.95 and its two-hundred day moving average price is $73.85. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $86.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. The company has a market cap of $16.37 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 1.96 and a beta of 1.49.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.21. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The firm had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $14.58 billion. During the same quarter in the prior year, the business earned $2.61 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts anticipate that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were issued a dividend of $0.94 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $3.76 annualized dividend and a yield of 4.95%. Best Buy’s dividend payout ratio is currently 66.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BBY shares. Jefferies Financial Group lowered their price objective on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Telsey Advisory Group upgraded Best Buy from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $85.00 to $95.00 in a research note on Wednesday, March 20th. Barclays upped their price objective on Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. TheStreet upgraded Best Buy from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. Finally, Truist Financial upped their price objective on Best Buy from $68.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $84.60.

Insiders Place Their Bets

In other news, insider Todd G. Hartman sold 3,973 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $324,991.40. Following the transaction, the insider now owns 25,912 shares of the company’s stock, valued at approximately $2,119,601.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Todd G. Hartman sold 3,973 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $324,991.40. Following the transaction, the insider now owns 25,912 shares of the company’s stock, valued at approximately $2,119,601.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kathleen Scarlett sold 5,096 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $416,852.80. Following the completion of the transaction, the executive vice president now directly owns 76,226 shares in the company, valued at approximately $6,235,286.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,394 shares of company stock valued at $4,206,247. 0.56% of the stock is currently owned by corporate insiders.

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.