William Allan Corp Raises Stock Position in Best Buy Co., Inc. (NYSE:BBY)

William Allan Corp boosted its position in Best Buy Co., Inc. (NYSE:BBY) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,085 shares of the technology retailer’s stock after purchasing an additional 1,184 shares during the quarter. Best Buy comprises 1.6% of William Allan Corp’s investment portfolio, making the stock its 26th biggest position. William Allan Corp’s holdings in Best Buy were worth $2,581,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. bought a new stake in shares of Best Buy during the 2nd quarter worth $210,000. Sanctuary Advisors LLC purchased a new stake in Best Buy during the second quarter valued at about $902,000. Park Avenue Securities LLC grew its stake in shares of Best Buy by 1.3% during the third quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock valued at $855,000 after buying an additional 103 shares during the last quarter. Czech National Bank increased its holdings in shares of Best Buy by 9.0% in the third quarter. Czech National Bank now owns 39,988 shares of the technology retailer’s stock worth $4,131,000 after buying an additional 3,296 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Best Buy by 29.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,647 shares of the technology retailer’s stock valued at $273,000 after acquiring an additional 608 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Price Performance

Shares of Best Buy stock opened at $85.83 on Friday. The stock has a market cap of $18.35 billion, a P/E ratio of 14.67, a P/E/G ratio of 2.16 and a beta of 1.43. 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’s fifty day moving average is $86.01 and its 200 day moving average is $90.08. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71.

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

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 4.38%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio is currently 64.27%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial reduced their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Guggenheim cut their price target on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Wells Fargo & Company cut their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 27th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $100.00 target price on shares of Best Buy in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $101.72.

Insiders Place Their Bets

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.59% of the stock is currently owned by company 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.