Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 60.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,670 shares of the technology retailer's stock after purchasing an additional 6,274 shares during the period. Janney Montgomery Scott LLC's holdings in Best Buy were worth $1,430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trust Co. of Vermont raised its position 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 buying an additional 384 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Best Buy during the third quarter worth $40,000. LRI Investments LLC lifted its stake in shares of Best Buy by 632.1% in 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. Brooklyn Investment Group purchased a new position in shares of Best Buy during the 3rd quarter worth $44,000. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of Best Buy by 959.6% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 551 shares of the technology retailer's stock worth $57,000 after purchasing an additional 499 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value 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 approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.59% of the company's stock.

Best Buy Stock Performance

NYSE:BBY traded down $1.13 during mid-day trading on Friday, reaching $84.81. 2,805,207 shares of the stock were exchanged, compared to its average volume of 2,420,272. The stock has a market capitalization of $18.13 billion, a P/E ratio of 14.50, a P/E/G ratio of 2.16 and a beta of 1.43. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The company has a 50 day simple moving average of $85.97 and a 200-day simple moving average of $90.05. 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 - Get Free Report) last announced its earnings results 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 business had revenue of $9.45 billion for the quarter, compared to analysts' expectations of $9.63 billion. During the same quarter last year, the business posted $1.29 earnings per share. The business's revenue was down 3.2% on a year-over-year basis. Analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.43%. Best Buy's dividend payout ratio (DPR) is 64.27%.

Analyst Ratings Changes

BBY has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on shares of Best Buy from $107.00 to $95.00 and set a "hold" rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley decreased their price objective on shares of Best Buy from $105.00 to $100.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. StockNews.com downgraded shares of Best Buy from a "buy" rating to a "hold" rating in a report on Friday, November 15th. DA Davidson restated a "buy" rating and set a $117.00 price target on shares of Best Buy in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company cut their price objective on Best Buy from $95.00 to $89.00 and set an "equal weight" rating on the stock in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Best Buy has a consensus rating of "Moderate Buy" and an average price target of $101.72.

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.