Stablepoint Partners LLC Has $554,000 Position in Best Buy Co., Inc. (NYSE:BBY)

Stablepoint Partners LLC boosted its position in Best Buy Co., Inc. (NYSE:BBY) by 35.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,454 shares of the technology retailer’s stock after purchasing an additional 1,691 shares during the quarter. Stablepoint Partners LLC’s holdings in Best Buy were worth $554,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BBY. Harbor Capital Advisors Inc. acquired a new stake in shares of Best Buy in the third quarter valued at approximately $40,000. LRI Investments LLC increased its stake in Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after buying an additional 335 shares during the last quarter. Trust Co. of Vermont lifted its position in Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after buying an additional 384 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Best Buy during the 3rd quarter worth about $44,000. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of Best Buy by 959.6% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 551 shares of the technology retailer’s stock valued at $57,000 after acquiring an additional 499 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Down 1.0 %

BBY opened at $84.80 on Monday. The stock has a fifty day moving average of $86.49 and a 200-day moving average of $90.16. The company has a market capitalization of $18.13 billion, a P/E ratio of 14.50, a P/E/G ratio of 2.11 and a beta of 1.43. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.04). The business had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. Best Buy’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 EPS. On average, equities analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio is currently 64.27%.

Wall Street Analyst Weigh In

BBY has been the topic of several analyst reports. Telsey Advisory Group dropped their target price on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. DA Davidson reiterated a “buy” rating and set a $117.00 price objective on shares of Best Buy in a research note on Tuesday, October 15th. Citigroup decreased their target price on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, UBS Group decreased their price objective on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Best Buy presently has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Insiders Place Their Bets

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.59% of the company’s stock.

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.