2,918 Shares in Best Buy Co., Inc. (NYSE:BBY) Acquired by Inceptionr LLC

Inceptionr LLC bought a new position in Best Buy Co., Inc. (NYSE:BBY) in the fourth quarter, Holdings Channel reports. The institutional investor bought 2,918 shares of the technology retailer’s stock, valued at approximately $250,000.

A number of other hedge funds also recently bought and sold shares of BBY. Principal Financial Group Inc. lifted its position in Best Buy by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 247,510 shares of the technology retailer’s stock worth $25,568,000 after buying an additional 4,958 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in Best Buy by 202.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 33,647 shares of the technology retailer’s stock worth $3,476,000 after purchasing an additional 22,507 shares during the period. State of New Jersey Common Pension Fund D increased its stake in Best Buy by 7.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 74,142 shares of the technology retailer’s stock worth $7,659,000 after purchasing an additional 5,050 shares during the period. Los Angeles Capital Management LLC increased its stake in Best Buy by 496.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 47,229 shares of the technology retailer’s stock worth $4,879,000 after purchasing an additional 39,307 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in Best Buy in the 3rd quarter worth approximately $72,000. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Down 0.6 %

NYSE BBY opened at $78.90 on Tuesday. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The firm has a market capitalization of $16.87 billion, a PE ratio of 13.49, a P/E/G ratio of 2.10 and a beta of 1.43. The stock’s 50 day moving average is $85.44 and its 200 day moving average is $90.41. 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 (NYSE:BBY) last released its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the prior year, the firm posted $2.72 earnings per share. Research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be paid a $0.95 dividend. This is a boost from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Tuesday, March 25th. Best Buy’s dividend payout ratio is currently 88.99%.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction on Wednesday, December 11th. The stock was 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 of the company’s stock, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BBY shares. Wedbush reaffirmed a “neutral” rating and issued a $90.00 price target on shares of Best Buy in a research note on Monday, March 3rd. Loop Capital reaffirmed a “negative” rating on shares of Best Buy in a research note on Wednesday, March 5th. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 5th. Evercore ISI reduced their target price on Best Buy from $95.00 to $80.00 and set an “in-line” rating on the stock in a research note on Wednesday, March 5th. Finally, Bank of America reduced their target price on Best Buy from $80.00 to $75.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Best Buy presently has an average rating of “Hold” and a consensus target price of $93.50.

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.