SRS Capital Advisors Inc. Grows Position in Best Buy Co., Inc. (NYSE:BBY)

SRS Capital Advisors Inc. raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 24.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,563 shares of the technology retailer’s stock after purchasing an additional 703 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Best Buy were worth $306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BBY. Golden State Wealth Management LLC purchased a new stake in shares of Best Buy during the fourth quarter valued at $32,000. Trust Co. of Vermont grew its stake 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 valued at $36,000 after purchasing an additional 384 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Best Buy during the 3rd quarter valued at about $40,000. LRI Investments LLC increased its holdings in shares of Best Buy by 632.1% in the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after purchasing an additional 335 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of Best Buy in the third quarter worth about $44,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Buying and Selling at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.59% of the company’s stock.

Best Buy Trading Down 13.1 %

Shares of BBY stock opened at $75.40 on Wednesday. The stock has a 50 day simple moving average of $86.20 and a 200-day simple moving average of $90.62. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The company has a market cap of $16.12 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 2.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.18. The business had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same period last year, the firm posted $2.72 earnings per share. On average, equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.95 per share. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a yield of 5.04%. Best Buy’s payout ratio is 64.27%.

Wall Street Analyst Weigh In

BBY has been the topic of several research reports. Jefferies Financial Group cut their price target on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday. Morgan Stanley reiterated an “equal weight” rating on shares of Best Buy in a research note on Friday. Wells Fargo & Company reissued an “equal weight” rating on shares of Best Buy in a report on Friday. UBS Group reaffirmed a “buy” rating on shares of Best Buy in a report on Friday. Finally, Guggenheim reduced their price objective on Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, November 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Best Buy currently has an average rating of “Moderate Buy” and a consensus price target of $101.33.

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.