Harbor Capital Advisors Inc. Has $59,000 Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

Harbor Capital Advisors Inc. lifted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 79.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 691 shares of the technology retailer’s stock after acquiring an additional 306 shares during the period. Harbor Capital Advisors Inc.’s holdings in Best Buy were worth $59,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in BBY. Thrivent Financial for Lutherans raised its stake in Best Buy by 4,337.6% during the second quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock worth $92,677,000 after acquiring an additional 1,074,718 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Best Buy by 563.8% in the 4th quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock worth $50,643,000 after purchasing an additional 503,204 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Best Buy by 55.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer’s stock worth $116,252,000 after purchasing an additional 491,781 shares in the last quarter. National Bank of Canada FI lifted its holdings in Best Buy by 817.4% during the 3rd quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock valued at $55,564,000 after purchasing an additional 479,256 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Best Buy in the second quarter valued at about $25,287,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BBY. Telsey Advisory Group dropped their price objective on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, November 26th. Wells Fargo & Company dropped their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Wednesday, November 27th. Truist Financial reduced their price objective on Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. DA Davidson restated a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.72.

Best Buy Price Performance

Shares of BBY opened at $83.12 on Thursday. The stock has a market cap of $17.77 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43. The stock’s 50-day moving average price is $87.60 and its two-hundred day moving average price is $90.20. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. During the same period in the prior year, the business earned $1.29 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.52%. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

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.