Andesa Financial Management Inc. raised its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 96.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,994 shares of the technology retailer’s stock after acquiring an additional 20,144 shares during the quarter. Best Buy makes up approximately 1.5% of Andesa Financial Management Inc.’s holdings, making the stock its 20th largest position. Andesa Financial Management Inc.’s holdings in Best Buy were worth $4,707,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Best Buy in the 4th quarter worth approximately $261,203,000. FMR LLC boosted its position in shares of Best Buy by 21.0% in the 4th quarter. FMR LLC now owns 14,227,362 shares of the technology retailer’s stock worth $1,419,747,000 after purchasing an additional 2,464,803 shares in the last quarter. BlackRock Inc. boosted its position in shares of Best Buy by 2.8% in the 4th quarter. BlackRock Inc. now owns 19,306,106 shares of the technology retailer’s stock worth $1,926,558,000 after purchasing an additional 524,280 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Best Buy by 25.9% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,294,387 shares of the technology retailer’s stock worth $228,950,000 after purchasing an additional 471,944 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Best Buy by 106.3% in the 4th quarter. Principal Financial Group Inc. now owns 720,555 shares of the technology retailer’s stock worth $71,904,000 after purchasing an additional 371,250 shares in the last quarter. 76.56% of the stock is currently owned by institutional investors and hedge funds.
BBY has been the topic of a number of analyst reports. Raymond James dropped their price target on Best Buy from $150.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, March 4th. DA Davidson restated a “buy” rating on shares of Best Buy in a report on Friday, February 26th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on shares of Best Buy in a report on Monday, March 15th. They issued a “sell” rating and a $86.00 price objective for the company. Royal Bank of Canada decreased their price objective on shares of Best Buy from $130.00 to $114.00 and set a “sector perform” rating for the company in a report on Thursday, March 4th. Finally, Bank of America restated a “buy” rating on shares of Best Buy in a report on Tuesday, February 16th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Best Buy currently has a consensus rating of “Hold” and a consensus price target of $111.05.
Shares of NYSE:BBY traded up $0.30 during midday trading on Thursday, hitting $119.27. The company had a trading volume of 47,086 shares, compared to its average volume of 2,761,905. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.12 and a quick ratio of 0.55. The company has a market cap of $29.82 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.40 and a beta of 1.52. Best Buy Co., Inc. has a 12-month low of $67.93 and a 12-month high of $124.89. The company has a fifty day moving average of $114.82 and a two-hundred day moving average of $112.57.
Best Buy (NYSE:BBY) last issued its earnings results on Wednesday, February 24th. The technology retailer reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.02. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $17.19 billion. Best Buy had a net margin of 3.79% and a return on equity of 52.17%. Research analysts expect that Best Buy Co., Inc. will post 7.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 8th. Investors of record on Thursday, March 18th were issued a $0.70 dividend. The ex-dividend date was Wednesday, March 17th. This represents a $2.80 annualized dividend and a yield of 2.35%. This is an increase from Best Buy’s previous quarterly dividend of $0.55. Best Buy’s dividend payout ratio is currently 46.13%.
Best Buy Profile
Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing and mobile phones, such as computing covering desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions, networking products, tablets covering e-readers, and wearables, such as smartwatches; and consumer electronics consisting of digital imaging, health and fitness, home theater, portable audio comprising headphones and portable speakers, and smart home products.
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