O Brien Greene & Co. Inc Has $5.51 Million Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

O Brien Greene & Co. Inc trimmed its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 5.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,217 shares of the technology retailer’s stock after selling 3,964 shares during the quarter. Best Buy accounts for 1.8% of O Brien Greene & Co. Inc’s holdings, making the stock its 25th biggest position. O Brien Greene & Co. Inc’s holdings in Best Buy were worth $5,510,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BBY. Concurrent Investment Advisors LLC raised its holdings in shares of Best Buy by 0.7% during the fourth quarter. Concurrent Investment Advisors LLC now owns 27,467 shares of the technology retailer’s stock worth $2,357,000 after acquiring an additional 200 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Best Buy by 28.6% in the 4th quarter. Handelsbanken Fonder AB now owns 38,191 shares of the technology retailer’s stock valued at $3,277,000 after purchasing an additional 8,499 shares during the period. Ieq Capital LLC raised its stake in shares of Best Buy by 209.3% in the 4th quarter. Ieq Capital LLC now owns 47,574 shares of the technology retailer’s stock valued at $4,082,000 after purchasing an additional 32,195 shares during the period. Alberta Investment Management Corp lifted its holdings in shares of Best Buy by 424.0% in the fourth quarter. Alberta Investment Management Corp now owns 26,200 shares of the technology retailer’s stock valued at $2,248,000 after purchasing an additional 21,200 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Best Buy by 66.6% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,680 shares of the technology retailer’s stock worth $831,000 after buying an additional 3,868 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on BBY. Barclays cut their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Morgan Stanley cut their price objective on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Truist Financial reduced their target price on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. JPMorgan Chase & Co. lifted their price target on shares of Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Telsey Advisory Group reduced their price objective on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Best Buy presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

Best Buy Trading Down 0.1 %

Shares of Best Buy stock opened at $91.02 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The business has a fifty day simple moving average of $85.92 and a two-hundred day simple moving average of $90.23. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 2.13 and a beta of 1.43.

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

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio is currently 64.27%.

Insiders Place Their Bets

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.59% of the company’s stock.

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.