Atria Wealth Solutions Inc. Lowers Stake in Best Buy Co., Inc. (NYSE:BBY)

Atria Wealth Solutions Inc. lowered its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,717 shares of the technology retailer’s stock after selling 561 shares during the period. Atria Wealth Solutions Inc.’s holdings in Best Buy were worth $1,623,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BBY. Golden State Wealth Management LLC purchased a new stake in Best Buy during the fourth quarter worth $32,000. Trust Co. of Vermont lifted its holdings in shares of Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after purchasing an additional 384 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy during the 3rd quarter valued at $40,000. LRI Investments LLC lifted its holdings in shares of Best Buy by 632.1% during the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after purchasing an additional 335 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Best Buy during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Analyst Ratings Changes

BBY has been the subject of several analyst reports. Barclays decreased their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. Telsey Advisory Group cut their price target on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 26th. Truist Financial cut 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 cut Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Guggenheim dropped their target price on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. One equities 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’s stock. According to MarketBeat, Best Buy currently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Best Buy Trading Down 1.3 %

Shares of Best Buy stock opened at $89.80 on Friday. The firm has a market capitalization of $19.20 billion, a PE ratio of 15.35, a P/E/G ratio of 2.13 and a beta of 1.43. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The firm’s 50-day moving average price is $86.10 and its 200 day moving average price is $90.30. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last released its earnings results 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 return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.63 billion. During the same period last year, the business earned $1.29 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is 64.27%.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy 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 sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.59% of the company’s stock.

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.