Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Klein Pavlis & Peasley Financial Inc.

Klein Pavlis & Peasley Financial Inc. raised its holdings in Best Buy Co., Inc. (NYSE:BBY) by 48.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,400 shares of the technology retailer’s stock after buying an additional 8,640 shares during the period. Best Buy comprises about 1.8% of Klein Pavlis & Peasley Financial Inc.’s holdings, making the stock its 19th largest position. Klein Pavlis & Peasley Financial Inc.’s holdings in Best Buy were worth $2,265,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BBY. Bleakley Financial Group LLC grew its position in shares of Best Buy by 10.3% during the fourth quarter. Bleakley Financial Group LLC now owns 6,649 shares of the technology retailer’s stock worth $570,000 after acquiring an additional 621 shares during the last quarter. Centennial Wealth Advisory LLC lifted its stake in shares of Best Buy by 10.2% in the fourth quarter. Centennial Wealth Advisory LLC now owns 4,349 shares of the technology retailer’s stock valued at $373,000 after purchasing an additional 403 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Best Buy by 21.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 187,582 shares of the technology retailer’s stock valued at $16,456,000 after purchasing an additional 33,018 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Best Buy by 17.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,946 shares of the technology retailer’s stock worth $253,000 after buying an additional 435 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in shares of Best Buy by 0.5% in the fourth quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock valued at $2,566,000 after purchasing an additional 145 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Up 1.7 %

Shares of NYSE:BBY opened at $86.48 on Thursday. The business has a fifty day simple moving average of $86.05 and a 200 day simple moving average of $90.11. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71. The firm has a market cap of $18.49 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.16 and a beta of 1.43. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) 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 company had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. During the same period last year, the company earned $1.29 EPS. Best Buy’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed 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 dividend yield of 4.35%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is 64.27%.

Insider Activity

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

Analyst Ratings Changes

A number of research firms have recently weighed in on BBY. JPMorgan Chase & Co. boosted their price objective on shares of Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Truist Financial dropped their price objective on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Barclays lowered their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Citigroup lowered their price objective on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Loop Capital reaffirmed a “buy” rating and set a $100.00 target price on shares of Best Buy in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.