Moody Aldrich Partners LLC Sells 5,657 Shares of Best Buy Co., Inc. (NYSE:BBY)

Moody Aldrich Partners LLC reduced its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 27.4% in the 4th quarter, HoldingsChannel reports. The firm owned 15,004 shares of the technology retailer’s stock after selling 5,657 shares during the period. Moody Aldrich Partners LLC’s holdings in Best Buy were worth $1,287,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC raised its stake in shares of Best Buy by 1.3% in the third quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock worth $855,000 after acquiring an additional 103 shares during the last quarter. Greenleaf Trust raised its stake in shares of Best Buy by 1.2% in the third quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock worth $977,000 after acquiring an additional 108 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in shares of Best Buy by 4.6% in the third quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock worth $276,000 after acquiring an additional 118 shares during the last quarter. Hoxton Planning & Management LLC raised its stake in shares of Best Buy by 3.7% in the third quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer’s stock worth $360,000 after acquiring an additional 124 shares during the last quarter. Finally, Access Investment Management LLC raised its stake in shares of Best Buy by 12.2% in the third quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock worth $143,000 after acquiring an additional 150 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Stock Performance

Shares of BBY stock opened at $86.72 on Wednesday. The company’s fifty day simple moving average is $86.42 and its 200-day simple moving average is $90.19. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a market cap of $18.54 billion, a PE ratio of 14.82, a P/E/G ratio of 2.11 and a beta of 1.43. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71.

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

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio is presently 64.27%.

Insider Transactions at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BBY has been the subject of a number of research analyst reports. Barclays dropped their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. DA Davidson reissued a “buy” rating and set a $117.00 price target on shares of Best Buy in a research note on Tuesday, October 15th. Truist Financial dropped their price target on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Morgan Stanley decreased their price objective 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, January 21st. Finally, Telsey Advisory Group decreased their price objective on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

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.