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

O Brien Greene & Co. Inc grew its holdings in Best Buy Co., Inc. (NYSE:BBY) by 8.1% during the 4th quarter, Holdings Channel reports. The fund owned 56,740 shares of the technology retailer’s stock after buying an additional 4,274 shares during the period. Best Buy comprises 1.6% of O Brien Greene & Co. Inc’s 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 reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in Best Buy by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,478,759 shares of the technology retailer’s stock worth $311,139,000 after acquiring an additional 66,770 shares during the period. Invesco Ltd. raised its position in Best Buy by 8.7% in the third quarter. Invesco Ltd. now owns 3,450,910 shares of the technology retailer’s stock worth $239,735,000 after acquiring an additional 276,366 shares during the period. Northern Trust Corp raised its position in Best Buy by 7.7% in the third quarter. Northern Trust Corp now owns 2,787,163 shares of the technology retailer’s stock worth $193,624,000 after acquiring an additional 199,749 shares during the period. Federated Hermes Inc. raised its position in Best Buy by 6.4% in the fourth quarter. Federated Hermes Inc. now owns 2,752,920 shares of the technology retailer’s stock worth $215,499,000 after acquiring an additional 166,478 shares during the period. Finally, Raymond James & Associates raised its position in Best Buy by 4.5% in the third quarter. Raymond James & Associates now owns 2,611,816 shares of the technology retailer’s stock worth $181,443,000 after acquiring an additional 112,315 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 2,505 shares of Best Buy stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $204,909.00. Following the completion of the transaction, the chief accounting officer now directly owns 25,638 shares of the company’s stock, valued at approximately $2,097,188.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Mathew Watson sold 2,505 shares of Best Buy stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $204,909.00. Following the completion of the transaction, the chief accounting officer now directly owns 25,638 shares of the company’s stock, valued at approximately $2,097,188.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Corie S. Barry sold 366 shares of Best Buy 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 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 52,023 shares of company stock valued at $4,253,900 in the last three months. Corporate insiders own 0.56% of the company’s stock.

Best Buy Stock Performance

Shares of NYSE BBY opened at $75.05 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. The company has a market cap of $16.16 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.96 and a beta of 1.49. The firm’s fifty day moving average is $78.02 and its two-hundred day moving average is $74.12. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $86.11.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.21. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The company had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $14.58 billion. During the same period in the previous year, the firm posted $2.61 EPS. Best Buy’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts anticipate that Best Buy Co., Inc. will post 6.03 EPS for the current fiscal year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders 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. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.01%. 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 brokerages have recently commented on BBY. Jefferies Financial Group decreased their price objective on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Barclays raised their price objective on shares of Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. TheStreet upgraded shares of Best Buy from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. Truist Financial raised their price objective 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. Finally, Wedbush raised their price objective on shares of Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $84.60.

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.