Shariaportfolio Inc. Has $715,000 Position in Best Buy Co., Inc. (NYSE:BBY)

Shariaportfolio Inc. lowered its position in Best Buy Co., Inc. (NYSE:BBY) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,329 shares of the technology retailer’s stock after selling 435 shares during the quarter. Best Buy makes up about 0.3% of Shariaportfolio Inc.’s investment portfolio, making the stock its 23rd largest holding. Shariaportfolio Inc.’s holdings in Best Buy were worth $715,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC lifted its stake in Best Buy by 0.5% in the fourth quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock valued at $2,566,000 after acquiring an additional 145 shares during the last quarter. Access Investment Management LLC lifted its stake in shares of Best Buy by 12.2% during the 3rd quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock worth $143,000 after buying an additional 150 shares during the last quarter. Claro Advisors LLC lifted its stake in shares of Best Buy by 5.7% during the 4th quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock worth $246,000 after buying an additional 154 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake in shares of Best Buy by 14.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,243 shares of the technology retailer’s stock worth $107,000 after buying an additional 155 shares during the last quarter. Finally, Empirical Finance LLC lifted its stake in shares of Best Buy by 1.2% during the 3rd quarter. Empirical Finance LLC now owns 15,012 shares of the technology retailer’s stock worth $1,551,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

BBY stock opened at $89.80 on Monday. 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 firm has a market cap of $19.20 billion, a P/E ratio of 15.35, a P/E/G ratio of 2.13 and a beta of 1.43. The company’s 50-day moving average price is $86.10 and its two-hundred day moving average price is $90.43.

Best Buy (NYSE:BBY) last posted 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 net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. During the same quarter in the previous year, the business posted $1.29 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

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 was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.19%. Best Buy’s payout ratio is currently 64.27%.

Insider Activity

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.59% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays cut their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Morgan Stanley cut their target price on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Loop Capital restated a “buy” rating and set a $100.00 target price on shares of Best Buy in a research note on Wednesday, December 18th. JPMorgan Chase & Co. raised their target price on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Best Buy currently has an average rating of “Moderate Buy” and a consensus price target of $101.72.

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.