Unison Advisors LLC Acquires 307 Shares of Best Buy Co., Inc. (NYSE:BBY)

Unison Advisors LLC raised its holdings in Best Buy Co., Inc. (NYSE:BBY) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,619 shares of the technology retailer’s stock after buying an additional 307 shares during the quarter. Unison Advisors LLC’s holdings in Best Buy were worth $2,983,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BBY. Park Avenue Securities LLC lifted its stake in Best Buy by 1.3% in the third quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer’s stock worth $855,000 after acquiring an additional 103 shares during the period. Tobam boosted its stake in shares of Best Buy by 15.6% during the 2nd quarter. Tobam now owns 895 shares of the technology retailer’s stock valued at $75,000 after purchasing an additional 121 shares in the last quarter. Hoxton Planning & Management LLC boosted its stake in shares of Best Buy by 3.7% during the 3rd quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer’s stock valued at $360,000 after purchasing an additional 124 shares in the last quarter. LVW Advisors LLC raised its stake in Best Buy by 2.3% in the second quarter. LVW Advisors LLC now owns 5,716 shares of the technology retailer’s stock worth $482,000 after buying an additional 130 shares in the last quarter. Finally, Rise Advisors LLC lifted its holdings in Best Buy by 69.5% in the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after buying an additional 132 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 691,328 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $88.46, for a total value of $61,154,874.88. Following the transaction, the chairman now owns 14,911,525 shares of the company’s stock, valued at $1,319,073,501.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Richard M. Schulze sold 691,328 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the sale, the chairman now directly owns 14,911,525 shares in the company, valued at $1,319,073,501.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 88,542 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total value of $7,813,831.50. Following the completion of the sale, the chairman now owns 13,602,853 shares of the company’s stock, valued at $1,200,451,777.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,379,870 shares of company stock worth $121,942,706. Corporate insiders own 0.59% of the company’s stock.

Best Buy Stock Performance

Best Buy stock traded down $1.39 during mid-day trading on Thursday, reaching $97.25. 405,769 shares of the stock traded hands, compared to its average volume of 3,048,479. Best Buy Co., Inc. has a 12-month low of $62.30 and a 12-month high of $103.71. The business’s 50-day moving average is $93.30 and its 200-day moving average is $85.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.34. The stock has a market capitalization of $20.98 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 2.56 and a beta of 1.46.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating the consensus estimate of $1.16 by $0.18. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.22 EPS. As a group, sell-side analysts predict that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a yield of 3.87%. Best Buy’s dividend payout ratio is currently 65.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Evercore ISI upped their target price on Best Buy from $90.00 to $94.00 and gave the stock an “in-line” rating in a report on Friday, August 30th. Telsey Advisory Group increased their price objective on Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Piper Sandler restated an “overweight” rating and set a $114.00 target price (up previously from $100.00) on shares of Best Buy in a report on Friday, August 30th. BNP Paribas raised shares of Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their price target on Best Buy from $101.00 to $111.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Best Buy presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.41.

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.