Kintegral Advisory LLC Sells 1,180 Shares of Best Buy Co., Inc. (NYSE:BBY)

Kintegral Advisory LLC lessened its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,352 shares of the technology retailer’s stock after selling 1,180 shares during the quarter. Kintegral Advisory LLC’s holdings in Best Buy were worth $2,200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allianz Asset Management GmbH raised its position in shares of Best Buy by 17.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,606,242 shares of the technology retailer’s stock valued at $137,816,000 after purchasing an additional 236,524 shares during the period. Concurrent Investment Advisors LLC grew its stake in Best Buy by 0.7% in the 4th quarter. Concurrent Investment Advisors LLC now owns 27,467 shares of the technology retailer’s stock valued at $2,357,000 after buying an additional 200 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in 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 acquiring an additional 8,499 shares during the period. Ieq Capital LLC lifted its position in Best Buy by 209.3% during the fourth quarter. Ieq Capital LLC now owns 47,574 shares of the technology retailer’s stock worth $4,082,000 after acquiring an additional 32,195 shares during the last quarter. Finally, Alberta Investment Management Corp boosted its holdings in shares of Best Buy by 424.0% during the fourth quarter. Alberta Investment Management Corp now owns 26,200 shares of the technology retailer’s stock worth $2,248,000 after acquiring an additional 21,200 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Best Buy stock opened at $89.80 on Friday. The stock has a market cap of $19.20 billion, a PE ratio of 15.35, a P/E/G ratio of 2.13 and a beta of 1.43. 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 12-month low of $69.29 and a 12-month high of $103.71. The business’s 50-day moving average price is $86.10 and its two-hundred day moving average price is $90.36.

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

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is 64.27%.

Insider Buying and Selling

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction dated 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 directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BBY shares. Wells Fargo & Company lowered 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 Wednesday, November 27th. UBS Group dropped their target price on Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Telsey Advisory Group reduced their target price on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, November 26th. Truist Financial lowered their price target on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Finally, Barclays cut their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

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.