Strategic Investment Advisors MI boosted its position in Best Buy Co Inc (NYSE:BBY) by 15.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,194 shares of the technology retailer’s stock after purchasing an additional 569 shares during the period. Strategic Investment Advisors MI’s holdings in Best Buy were worth $368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of BBY. AdvisorShares Investments LLC bought a new stake in shares of Best Buy during the fourth quarter valued at approximately $766,000. Granite Investment Advisors LLC bought a new position in Best Buy in the fourth quarter worth approximately $235,000. Exane Derivatives raised its stake in Best Buy by 7.1% in the fourth quarter. Exane Derivatives now owns 42,518 shares of the technology retailer’s stock worth $3,780,000 after buying an additional 2,814 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Best Buy in the fourth quarter worth approximately $63,000. Finally, Krueger & Catalano Capital Partners LLC raised its stake in Best Buy by 0.5% in the fourth quarter. Krueger & Catalano Capital Partners LLC now owns 20,974 shares of the technology retailer’s stock worth $1,841,000 after buying an additional 110 shares in the last quarter. 77.74% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on BBY. Loop Capital boosted their price objective on shares of Best Buy from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Telsey Advisory Group boosted their price objective on shares of Best Buy from $70.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, September 26th. Zacks Investment Research lowered shares of Best Buy from a “hold” rating to a “sell” rating and set a $79.00 price target on the stock. in a report on Thursday, November 7th. Morgan Stanley lifted their price target on shares of Best Buy from $77.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Jefferies Financial Group lifted their price target on shares of Best Buy from $91.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. Best Buy currently has an average rating of “Hold” and an average target price of $85.05.
Shares of BBY traded up $0.10 during trading hours on Friday, reaching $89.92. 53,529 shares of the company traded hands, compared to its average volume of 2,002,463. The stock has a market capitalization of $23.24 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.72 and a beta of 1.16. The company has a quick ratio of 0.27, a current ratio of 1.05 and a debt-to-equity ratio of 1.10. Best Buy Co Inc has a 12-month low of $56.72 and a 12-month high of $91.83. The business has a fifty day moving average price of $87.31 and a 200-day moving average price of $75.09.
Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. The firm had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.71 billion. Best Buy had a net margin of 3.54% and a return on equity of 49.43%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. As a group, research analysts predict that Best Buy Co Inc will post 5.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Monday, December 16th. Best Buy’s dividend payout ratio (DPR) is presently 37.59%.
About Best Buy
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.
Read More: Debt-To-Equity Ratio
Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co Inc (NYSE:BBY).
Receive News & Ratings for Best Buy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy and related companies with MarketBeat.com's FREE daily email newsletter.