3,344 Shares in Best Buy Co., Inc. (NYSE:BBY) Acquired by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,344 shares of the technology retailer's stock, valued at approximately $287,000.

Several other large investors have also modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in Best Buy in the 4th quarter valued at $32,000. Trust Co. of Vermont boosted its holdings in Best Buy by 1,200.0% in the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer's stock valued at $36,000 after purchasing an additional 384 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Best Buy in the 3rd quarter valued at $40,000. LRI Investments LLC boosted its holdings in 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 period. Finally, Brooklyn Investment Group bought a new stake in Best Buy in the 3rd quarter valued at $44,000. 80.96% of the stock is owned by institutional investors.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. The trade was a 42.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.59% of the stock is owned by corporate insiders.

Best Buy Price Performance

BBY traded up $1.99 during midday trading on Friday, hitting $91.16. The company had a trading volume of 2,721,195 shares, compared to its average volume of 2,279,853. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The company has a market capitalization of $19.49 billion, a PE ratio of 15.58, a P/E/G ratio of 2.01 and a beta of 1.43. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The firm's 50-day simple moving average is $85.76 and its 200-day simple moving average is $90.10.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. During the same quarter in the previous year, the business posted $1.29 EPS. The company's revenue was down 3.2% compared to the same quarter last year. Equities research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Tuesday, December 17th. Best Buy's dividend payout ratio is 64.27%.

Analyst Ratings Changes

BBY has been the subject of a number of analyst reports. StockNews.com downgraded shares of Best Buy from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Wells Fargo & Company reduced 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 report on Wednesday, November 27th. Barclays reduced 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 report on Thursday, January 9th. Truist Financial reduced their price objective on shares of Best Buy from $107.00 to $95.00 and set a "hold" rating for the company in a report on Wednesday, November 27th. Finally, Morgan Stanley reduced their price objective on shares of Best Buy from $105.00 to $100.00 and set an "equal weight" rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Best Buy has an average 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.