Crossmark Global Holdings Inc. Has $3.21 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Crossmark Global Holdings Inc. grew its position in Best Buy Co., Inc. (NYSE:BBY) by 11.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,430 shares of the technology retailer’s stock after purchasing an additional 3,783 shares during the period. Crossmark Global Holdings Inc.’s holdings in Best Buy were worth $3,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BBY. Park Avenue Securities LLC grew its position 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 acquiring an additional 103 shares during the period. Greenleaf Trust raised its holdings in shares of Best Buy by 1.2% in 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 period. SeaCrest Wealth Management LLC lifted its stake in Best Buy by 4.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock valued at $276,000 after purchasing an additional 118 shares during the last quarter. Hoxton Planning & Management LLC grew its holdings in Best Buy by 3.7% during the third quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer’s stock worth $360,000 after purchasing an additional 124 shares during the period. Finally, Access Investment Management LLC increased its position 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 owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BBY has been the subject of a number of recent analyst reports. Guggenheim reduced their target price on Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Citigroup reduced their price objective on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Telsey Advisory Group dropped their price objective on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 26th. Morgan Stanley reduced their target price on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Truist Financial decreased their price target on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Best Buy currently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Stock Down 0.7 %

Shares of NYSE BBY opened at $83.95 on Thursday. Best Buy Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71. The stock’s fifty day moving average is $86.91 and its 200 day moving average is $90.22. 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 $17.95 billion, a P/E ratio of 14.35, a PEG ratio of 2.06 and a beta of 1.43.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.04). The firm had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. Best Buy’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a $0.94 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.48%. Best Buy’s payout ratio is 64.27%.

Insider Transactions at Best Buy

In other Best Buy 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.59% of the stock is owned by insiders.

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.