6,832 Shares in Best Buy Co., Inc. (NYSE:BBY) Purchased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,832 shares of the technology retailer’s stock, valued at approximately $586,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in Best Buy during the fourth quarter valued at approximately $32,000. Trust Co. of Vermont raised its position in Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after acquiring an additional 384 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy in the third quarter valued at approximately $40,000. LRI Investments LLC increased its position 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 buying an additional 335 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Best Buy in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Activity

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BBY. Telsey Advisory Group cut their price objective on Best Buy from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday. Loop Capital cut their price objective on Best Buy from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday. DA Davidson cut their price objective on Best Buy from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company cut their price objective on Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, StockNews.com cut Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Best Buy currently has a consensus rating of “Moderate Buy” and an average price target of $93.50.

Best Buy Stock Performance

NYSE BBY opened at $75.36 on Thursday. The stock’s fifty day moving average is $85.97 and its two-hundred day moving average is $90.51. The firm has a market capitalization of $16.11 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. 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 Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.18. The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same quarter in the previous year, the company posted $2.72 earnings per share. On average, research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.04%. The ex-dividend date is Tuesday, March 25th. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s dividend payout ratio is 88.99%.

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.