Bremer Trust National Association purchased a new stake in Best Buy Co Inc (NYSE:BBY) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,158 shares of the technology retailer’s stock, valued at approximately $285,000.
A number of other hedge funds also recently modified their holdings of the stock. Dalton Greiner Hartman Maher & Co. acquired a new position in Best Buy in the 4th quarter valued at about $231,000. Sit Investment Associates Inc. increased its position in Best Buy by 783,437.5% in the 4th quarter. Sit Investment Associates Inc. now owns 188,049 shares of the technology retailer’s stock valued at $12,876,000 after acquiring an additional 188,025 shares during the period. Prudential Financial Inc. increased its position in Best Buy by 19.8% in the 3rd quarter. Prudential Financial Inc. now owns 1,053,380 shares of the technology retailer’s stock valued at $60,001,000 after acquiring an additional 173,903 shares during the period. Parametric Portfolio Associates LLC increased its position in Best Buy by 2.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,396,332 shares of the technology retailer’s stock worth $79,535,000 after purchasing an additional 30,414 shares during the period. Finally, TrimTabs Asset Management LLC increased its position in Best Buy by 17.1% during the 3rd quarter. TrimTabs Asset Management LLC now owns 6,767 shares of the technology retailer’s stock worth $385,000 after purchasing an additional 990 shares during the period. Hedge funds and other institutional investors own 88.45% of the company’s stock.
In other news, General Counsel Keith J. Nelsen sold 44,235 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $56.78, for a total transaction of $2,511,663.30. Following the sale, the general counsel now owns 107,503 shares of the company’s stock, valued at approximately $6,104,020.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shari L. Ballard sold 40,018 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $56.18, for a total value of $2,248,211.24. Following the sale, the insider now directly owns 99,304 shares in the company, valued at approximately $5,578,898.72. The disclosure for this sale can be found here. Insiders have sold a total of 3,134,253 shares of company stock worth $191,063,125 in the last three months. Corporate insiders own 1.21% of the company’s stock.
Shares of Best Buy Co Inc (BBY) opened at $73.25 on Friday. The company has a market capitalization of $21,410.00, a P/E ratio of 18.54, a PEG ratio of 1.35 and a beta of 1.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25. Best Buy Co Inc has a 52 week low of $41.67 and a 52 week high of $73.45.
Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.36 billion. Best Buy had a return on equity of 28.46% and a net margin of 3.09%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 EPS. research analysts expect that Best Buy Co Inc will post 4 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Wednesday, December 6th. Best Buy’s dividend payout ratio (DPR) is 34.43%.
Several research firms have issued reports on BBY. Wedbush set a $38.00 target price on Best Buy and gave the stock a “sell” rating in a research report on Monday, January 8th. Moffett Nathanson began coverage on Best Buy in a research report on Monday, December 4th. They set a “sell” rating on the stock. Deutsche Bank set a $56.00 target price on Best Buy and gave the stock a “hold” rating in a research report on Friday, November 17th. Loop Capital set a $72.00 target price on Best Buy and gave the stock a “buy” rating in a research report on Thursday, November 16th. Finally, Oppenheimer reiterated a “hold” rating on shares of Best Buy in a research report on Thursday, November 16th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Best Buy currently has an average rating of “Hold” and an average target price of $59.14.
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Best Buy Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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