O Brien Greene & Co. Inc Purchases 4,274 Shares of Best Buy Co., Inc. (NYSE:BBY)

O Brien Greene & Co. Inc raised its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,740 shares of the technology retailer’s stock after acquiring an additional 4,274 shares during the quarter. Best Buy comprises 1.6% of O Brien Greene & Co. Inc’s investment portfolio, making the stock its 29th biggest holding. O Brien Greene & Co. Inc’s holdings in Best Buy were worth $4,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BBY. HS Management Partners LLC bought a new position in shares of Best Buy during the 4th quarter worth about $103,854,000. Barclays PLC boosted its position in shares of Best Buy by 120.3% during the 3rd quarter. Barclays PLC now owns 1,336,071 shares of the technology retailer’s stock worth $92,819,000 after purchasing an additional 729,605 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Best Buy by 36.2% during the 3rd quarter. Federated Hermes Inc. now owns 2,586,442 shares of the technology retailer’s stock worth $179,680,000 after purchasing an additional 687,556 shares in the last quarter. Van Hulzen Asset Management LLC lifted its position in Best Buy by 426.7% in the 3rd quarter. Van Hulzen Asset Management LLC now owns 740,608 shares of the technology retailer’s stock valued at $51,450,000 after acquiring an additional 600,000 shares in the last quarter. Finally, Ceredex Value Advisors LLC lifted its position in Best Buy by 73.1% in the 4th quarter. Ceredex Value Advisors LLC now owns 1,228,980 shares of the technology retailer’s stock valued at $97,339,000 after acquiring an additional 518,920 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In other Best Buy news, EVP Kathleen Scarlett sold 5,096 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $416,852.80. Following the completion of the transaction, the executive vice president now directly owns 76,226 shares of the company’s stock, valued at approximately $6,235,286.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Best Buy news, EVP Kathleen Scarlett sold 5,096 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $416,852.80. Following the completion of the transaction, the executive vice president now directly owns 76,226 shares of the company’s stock, valued at approximately $6,235,286.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Corie S. Barry sold 366 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the transaction, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at $32,670,060.56. The disclosure for this sale can be found here. Insiders sold a total of 52,023 shares of company stock valued at $4,253,900 in the last three months. Company insiders own 0.56% of the company’s stock.

Best Buy Stock Down 0.3 %

BBY opened at $75.05 on Friday. The company has a 50 day moving average of $78.02 and a 200 day moving average of $74.12. The company has a market cap of $16.16 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.96 and a beta of 1.49. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $86.11. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, topping the consensus estimate of $2.51 by $0.21. The company had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.58 billion. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. Best Buy’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm earned $2.61 EPS. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 5.01%. This is an increase from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, March 20th. Best Buy’s dividend payout ratio (DPR) is presently 66.08%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Best Buy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. UBS Group increased their price objective on shares of Best Buy from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Jefferies Financial Group decreased their price objective on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, April 8th. JPMorgan Chase & Co. upgraded shares of Best Buy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $89.00 to $101.00 in a research note on Friday, March 22nd. Finally, Truist Financial increased their price objective on shares of Best Buy from $68.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $84.60.

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.