Best Buy Co., Inc. (NYSE:BBY) Stake Lifted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 37.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 847 shares of the technology retailer’s stock after buying an additional 229 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Best Buy were worth $73,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its stake in Best Buy by 5.2% during the 4th quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer’s stock worth $218,000 after buying an additional 125 shares during the last quarter. Rothschild Investment LLC grew its stake in Best Buy by 19.7% during the 4th quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer’s stock worth $74,000 after buying an additional 142 shares during the last quarter. Independent Advisor Alliance grew its stake in Best Buy by 5.0% during the 4th quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer’s stock worth $258,000 after buying an additional 142 shares during the last quarter. Yousif Capital Management LLC grew its stake in Best Buy by 0.5% during the 4th quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock worth $2,566,000 after buying an additional 145 shares during the last quarter. Finally, Claro Advisors LLC grew its stake in 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. 80.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BBY. Loop Capital reissued a “negative” rating on shares of Best Buy in a research note on Wednesday, March 5th. KeyCorp reissued a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 5th. Barclays decreased their price target on 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. JPMorgan Chase & Co. decreased their price target on Best Buy from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their price target on Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $93.50.

Best Buy Trading Down 0.9 %

Shares of NYSE BBY opened at $73.10 on Wednesday. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 2.10 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. The business has a fifty day simple moving average of $83.96 and a 200-day simple moving average of $89.58.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.18. The firm had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period in the prior year, the business earned $2.72 EPS. Sell-side analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be paid a $0.95 dividend. This is an increase from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a yield of 5.20%. The ex-dividend date is Tuesday, March 25th. Best Buy’s dividend payout ratio is currently 88.99%.

Insider Buying and Selling

In other Best Buy news, CEO Corie S. Barry acquired 13,500 shares of Best Buy stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $72.92 per share, with a total value of $984,420.00. Following the purchase, the chief executive officer now owns 378,780 shares in the company, valued at approximately $27,620,637.60. The trade was a 3.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.59% of the company’s stock.

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.