3,456 Shares in Best Buy Co., Inc. (NYSE:BBY) Acquired by Brooklyn FI LLC

Brooklyn FI LLC acquired a new position in Best Buy Co., Inc. (NYSE:BBY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,456 shares of the technology retailer’s stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Xponance Inc. grew its stake in Best Buy by 35.7% in the fourth quarter. Xponance Inc. now owns 40,294 shares of the technology retailer’s stock worth $3,457,000 after purchasing an additional 10,590 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Best Buy during the fourth quarter worth $1,478,000. Generali Asset Management SPA SGR purchased a new stake in Best Buy during the fourth quarter worth $3,126,000. Thrivent Financial for Lutherans lifted its holdings in Best Buy by 7.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,246,904 shares of the technology retailer’s stock worth $106,984,000 after buying an additional 86,290 shares during the period. Finally, Flagship Wealth Advisors LLC purchased a new stake in Best Buy during the fourth quarter worth $81,000. Institutional investors own 80.96% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Mathew Watson sold 3,182 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $71.29, for a total transaction of $226,844.78. Following the sale, the chief accounting officer now directly owns 19,218 shares in the company, valued at $1,370,051.22. This trade represents a 14.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Corie S. Barry bought 13,500 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the transaction, the chief executive officer now directly owns 378,780 shares in the company, valued at approximately $27,620,637.60. This trade represents a 3.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.59% of the stock is owned by insiders.

Best Buy Stock Performance

Shares of BBY stock opened at $73.86 on Thursday. The business has a fifty day moving average of $83.75 and a 200 day moving average of $89.47. The firm has a market capitalization of $15.79 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.18. The company had revenue of $13.95 billion for 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 last year, the firm earned $2.72 EPS. As a group, research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be given a dividend of $0.95 per share. 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 5.14%. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy’s dividend payout ratio (DPR) is currently 88.99%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BBY. Loop Capital restated a “negative” rating on shares of Best Buy in a report on Wednesday, March 5th. Jefferies Financial Group lowered their target price on Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Guggenheim lowered their target price on Best Buy from $105.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Bank of America lowered their target price on Best Buy from $80.00 to $75.00 and set an “underperform” rating for the company in a report on Wednesday, March 5th. Finally, Citigroup decreased their price objective on Best Buy from $105.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Best Buy has an average rating of “Hold” and a consensus price target of $93.50.

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.