Best Buy Co., Inc. (NYSE:BBY) Shares Purchased by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas lifted its position in Best Buy Co., Inc. (NYSE:BBY) by 61.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,675 shares of the technology retailer’s stock after purchasing an additional 11,631 shares during the period. Community Bank & Trust Waco Texas’ holdings in Best Buy were worth $2,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC raised its position in Best Buy by 549.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 302 shares during the period. Naples Money Management LLC acquired a new stake in shares of Best Buy in the fourth quarter valued at about $27,000. Stonebridge Capital Advisors LLC raised its position in shares of Best Buy by 81.9% in the third quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock valued at $29,000 after buying an additional 185 shares during the last quarter. Hartford Financial Management Inc. raised its position in shares of Best Buy by 56.5% in the fourth quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock valued at $30,000 after buying an additional 140 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Best Buy by 72.5% in the fourth quarter. CENTRAL TRUST Co now owns 1,004 shares of the technology retailer’s stock valued at $79,000 after buying an additional 422 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BBY has been the subject of a number of recent research reports. Truist Financial increased their target price on shares of Best Buy from $68.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Telsey Advisory Group raised shares of Best Buy from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $85.00 to $95.00 in a report on Wednesday, March 20th. TheStreet raised shares of Best Buy from a “c” rating to a “b-” rating in a report on Thursday, February 29th. Wedbush upped their price objective on shares of Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, Jefferies Financial Group dropped their price objective on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $84.60.

Best Buy Trading Down 1.6 %

Shares of NYSE:BBY traded down $1.21 during trading on Wednesday, reaching $73.83. 1,431,259 shares of the stock were exchanged, compared to its average volume of 2,973,381. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. Best Buy Co., Inc. has a 12-month low of $62.30 and a 12-month high of $86.11. The firm has a market cap of $15.90 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.96 and a beta of 1.49. The firm’s 50-day moving average price is $77.98 and its 200 day moving average price is $74.07.

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

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were paid a $0.94 dividend. This is a boost from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date was Wednesday, March 20th. This represents a $3.76 annualized dividend and a dividend yield of 5.09%. Best Buy’s dividend payout ratio is presently 66.08%.

Insider Transactions at Best Buy

In related news, CEO Corie S. Barry sold 366 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was 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 owns 431,231 shares of the company’s stock, valued at $32,670,060.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Corie S. Barry sold 366 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total value of $27,728.16. Following the completion of the sale, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Corie S. Barry sold 28,042 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $2,293,835.60. Following the sale, the chief executive officer now directly owns 429,159 shares of the company’s stock, valued at $35,105,206.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,023 shares of company stock valued at $4,253,900. 0.56% of the stock is currently owned by corporate insiders.

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.