Impact Partnership Wealth LLC Has $1.02 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

Impact Partnership Wealth LLC boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 20.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,938 shares of the technology retailer’s stock after buying an additional 1,991 shares during the period. Impact Partnership Wealth LLC’s holdings in Best Buy were worth $1,024,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Donoghue Forlines LLC lifted its position in Best Buy by 46.7% in the 4th quarter. Donoghue Forlines LLC now owns 18,099 shares of the technology retailer’s stock valued at $1,553,000 after acquiring an additional 5,758 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Best Buy by 60.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,670 shares of the technology retailer’s stock worth $1,430,000 after purchasing an additional 6,274 shares during the last quarter. Janney Capital Management LLC lifted its holdings in shares of Best Buy by 64.6% in the fourth quarter. Janney Capital Management LLC now owns 175,841 shares of the technology retailer’s stock valued at $15,087,000 after purchasing an additional 68,990 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Best Buy by 6.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 55,516 shares of the technology retailer’s stock valued at $4,815,000 after buying an additional 3,132 shares during the last quarter. Finally, Alpha Cubed Investments LLC lifted its position in shares of Best Buy by 4.2% during the fourth quarter. Alpha Cubed Investments LLC now owns 7,595 shares of the technology retailer’s stock valued at $652,000 after purchasing an additional 304 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their price objective on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. DA Davidson reiterated a “buy” rating and set a $117.00 target price on shares of Best Buy in a research report on Tuesday, October 15th. Truist Financial cut their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Finally, Guggenheim cut their price target on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.72.

Insider Activity

In other news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.59% of the stock is owned by corporate insiders.

Best Buy Stock Performance

Shares of BBY stock opened at $85.58 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The company has a market capitalization of $18.30 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 2.11 and a beta of 1.43. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The company’s 50-day moving average is $86.77 and its 200 day moving average is $90.17.

Best Buy (NYSE:BBY) last released its quarterly earnings data 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 business had revenue of $9.45 billion during 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 business’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.29 earnings per share. Sell-side analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.39%. Best Buy’s dividend payout ratio is presently 64.27%.

Best Buy 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.