Heritage Trust Co Makes New $958,000 Investment in Best Buy Co., Inc. (NYSE:BBY)

Heritage Trust Co bought a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,169 shares of the technology retailer's stock, valued at approximately $958,000.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Best Buy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer's stock worth $1,971,908,000 after purchasing an additional 191,161 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Best Buy by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,560,368 shares of the technology retailer's stock valued at $562,880,000 after acquiring an additional 395,415 shares during the period. Raymond James Financial Inc. bought a new position in Best Buy during the fourth quarter worth $514,483,000. Geode Capital Management LLC grew its holdings in Best Buy by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 5,092,820 shares of the technology retailer's stock worth $436,210,000 after purchasing an additional 239,840 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Best Buy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,824,425 shares of the technology retailer's stock valued at $328,136,000 after purchasing an additional 459,353 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

Insider Buying and Selling

In other Best Buy news, EVP Kathleen Scarlett sold 6,847 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $72.65, for a total value of $497,434.55. Following the completion of the transaction, the executive vice president now owns 87,389 shares of the company's stock, valued at $6,348,810.85. The trade was a 7.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd G. Hartman sold 4,893 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $355,476.45. Following the sale, the insider now owns 32,320 shares in the company, valued at approximately $2,348,048. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,355 shares of company stock valued at $5,767,213. Company insiders own 0.59% of the company's stock.

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Best Buy Stock Performance

Shares of BBY traded down $0.65 during mid-day trading on Tuesday, hitting $61.11. The stock had a trading volume of 4,033,336 shares, compared to its average volume of 3,257,322. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The business has a fifty day moving average price of $76.97 and a 200-day moving average price of $85.07. The firm has a market cap of $12.92 billion, a P/E ratio of 10.45, a PEG ratio of 2.10 and a beta of 1.42.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, beating the consensus estimate of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the prior year, the firm earned $2.72 earnings per share. On average, equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be given a $0.95 dividend. This is a positive change from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy's dividend payout ratio (DPR) is 88.99%.

Analyst Ratings Changes

Several brokerages have recently commented on BBY. Wells Fargo & Company reduced their target price on Best Buy from $89.00 to $85.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. KeyCorp restated a "sector weight" rating on shares of Best Buy in a report on Wednesday, March 5th. Bank of America reduced their price target on shares of Best Buy from $80.00 to $75.00 and set an "underperform" rating for the company in a research report on Wednesday, March 5th. Piper Sandler dropped their price objective on shares of Best Buy from $102.00 to $92.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Finally, Evercore ISI decreased their target price on shares of Best Buy from $95.00 to $80.00 and set an "in-line" rating for the company in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Best Buy has a consensus rating of "Hold" and a consensus price target of $91.28.

Best Buy Company 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.