Wealthcare Advisory Partners LLC Sells 485 Shares of Best Buy Co., Inc. (NYSE:BBY)

Wealthcare Advisory Partners LLC decreased its position in Best Buy Co., Inc. (NYSE:BBY) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,677 shares of the technology retailer’s stock after selling 485 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Best Buy were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BBY. Stevens Capital Management LP lifted its holdings in shares of Best Buy by 228.7% in the 4th quarter. Stevens Capital Management LP now owns 22,625 shares of the technology retailer’s stock worth $1,941,000 after acquiring an additional 15,741 shares during the last quarter. Invesco Ltd. raised its stake in shares of Best Buy by 20.5% during the fourth quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer’s stock valued at $316,784,000 after acquiring an additional 629,180 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Best Buy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer’s stock valued at $1,971,908,000 after acquiring an additional 191,161 shares during the last quarter. Pinnacle Financial Partners Inc bought a new position in Best Buy during the 4th quarter valued at approximately $3,293,000. Finally, APG Asset Management N.V. bought a new position in Best Buy in the 4th quarter worth $9,073,000. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BBY. Piper Sandler decreased their price target on shares of Best Buy from $92.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, May 30th. Jefferies Financial Group decreased their price target on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. UBS Group decreased their target price on shares of Best Buy from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Citigroup reissued a “neutral” rating and issued a $70.00 price target (down from $93.00) on shares of Best Buy in a research report on Thursday, April 3rd. Finally, Bank of America dropped their price target on shares of Best Buy from $80.00 to $75.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $86.11.

Insider Activity at Best Buy

In other news, EVP Kathleen Scarlett sold 6,847 shares of Best Buy stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $497,434.55. Following the sale, the executive vice president now directly owns 87,389 shares of the company’s stock, valued at approximately $6,348,810.85. The trade was a 7.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew M. Bilunas sold 9,482 shares of Best Buy stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $688,867.30. Following the completion of the sale, the chief financial officer now directly owns 106,856 shares in the company, valued at $7,763,088.40. This trade represents a 8.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 804,374 shares of company stock valued at $58,735,581. 0.47% of the stock is owned by company insiders.

Best Buy Price Performance

Shares of NYSE:BBY opened at $69.57 on Friday. 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 Co., Inc. has a twelve month low of $54.99 and a twelve month high of $103.71. The stock has a market capitalization of $14.70 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 2.10 and a beta of 1.25. The firm’s 50 day moving average price is $67.81 and its 200-day moving average price is $77.67.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, topping the consensus estimate of $1.09 by $0.06. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.77 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. Equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th will be issued a dividend of $0.95 per share. The ex-dividend date is Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.46%. Best Buy’s dividend payout ratio is presently 92.91%.

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.