Kathmere Capital Management LLC Has $439,000 Position in Best Buy Co., Inc. (NYSE:BBY)

Kathmere Capital Management LLC trimmed its position in Best Buy Co., Inc. (NYSE:BBY) by 20.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,611 shares of the technology retailer’s stock after selling 1,426 shares during the quarter. Kathmere Capital Management LLC’s holdings in Best Buy were worth $439,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC grew its stake in Best Buy by 69.5% during the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after purchasing an additional 132 shares during the period. MCF Advisors LLC increased its stake in shares of Best Buy by 2.7% in the 1st quarter. MCF Advisors LLC now owns 5,087 shares of the technology retailer’s stock valued at $422,000 after acquiring an additional 134 shares in the last quarter. Hartford Financial Management Inc. increased its stake in shares of Best Buy by 56.5% in the 4th quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock valued at $30,000 after acquiring an additional 140 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Best Buy by 4.0% during the 4th quarter. UMB Bank n.a. now owns 3,839 shares of the technology retailer’s stock valued at $301,000 after acquiring an additional 148 shares during the period. Finally, PrairieView Partners LLC boosted its stake in Best Buy by 67.1% during the first quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock worth $31,000 after acquiring an additional 151 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Performance

Shares of Best Buy stock traded down $3.31 during trading hours on Friday, hitting $82.36. 2,875,392 shares of the company’s stock traded hands, compared to its average volume of 3,127,221. The stock has a market capitalization of $17.77 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.76 and a beta of 1.48. Best Buy Co., Inc. has a 12-month low of $62.30 and a 12-month high of $93.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.33. The company has a fifty day simple moving average of $85.87 and a 200-day simple moving average of $79.43.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 30th. The technology retailer reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.96 billion. Best Buy had a net margin of 2.90% and a return on equity of 47.56%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.11 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Thursday, June 20th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date was Thursday, June 20th. Best Buy’s dividend payout ratio is currently 65.85%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of Best Buy from $80.00 to $90.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Truist Financial reaffirmed a “hold” rating and set a $86.00 price target on shares of Best Buy in a research note on Monday, July 1st. UBS Group raised Best Buy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $106.00 in a research note on Monday, June 17th. Loop Capital upped their target price on Best Buy from $93.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $95.00 price target on shares of Best Buy in a research report on Thursday, May 30th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Best Buy presently has a consensus rating of “Moderate Buy” and an average target price of $90.87.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 1,000,000 shares of Best Buy stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $80.21, for a total value of $80,210,000.00. Following the completion of the sale, the chairman now owns 8,850 shares of the company’s stock, valued at approximately $709,858.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Jason J. Bonfig sold 3,500 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $83.02, for a total value of $290,570.00. Following the completion of the transaction, the executive vice president now directly owns 50,714 shares of the company’s stock, valued at $4,210,276.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 1,000,000 shares of Best Buy stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $80.21, for a total value of $80,210,000.00. Following the completion of the transaction, the chairman now owns 8,850 shares of the company’s stock, valued at $709,858.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,383,370 shares of company stock worth $288,293,276 over the last ninety days. 0.59% of the stock is currently owned by company 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.