3,456 Shares in Best Buy Co., Inc. (NYSE:BBY) Bought by Brooklyn FI LLC

Brooklyn FI LLC acquired a new position in Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,456 shares of the technology retailer’s stock, valued at approximately $315,000.

Several other large investors also recently modified their holdings of BBY. Rakuten Securities Inc. grew its holdings in shares of Best Buy by 971.9% in the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after acquiring an additional 311 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Best Buy in the fourth quarter worth $32,000. OFI Invest Asset Management bought a new stake in Best Buy during the fourth quarter valued at about $34,000. Trust Co. of Vermont grew its holdings 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 purchasing an additional 384 shares during the period. Finally, LRI Investments LLC grew its holdings in Best Buy by 632.1% during 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. Institutional investors own 80.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on BBY. Barclays cut their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Thursday, January 9th. UBS Group set a $105.00 price target on Best Buy in a report on Wednesday, March 5th. DA Davidson cut their price target on Best Buy from $117.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Guggenheim cut their price target on Best Buy from $105.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, Wells Fargo & Company lowered their price objective on Best Buy from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $93.50.

Insiders Place Their Bets

In other news, CAO Mathew Watson sold 3,182 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.29, for a total transaction of $226,844.78. Following the transaction, the chief accounting officer now owns 19,218 shares of the company’s stock, valued at approximately $1,370,051.22. This represents a 14.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Corie S. Barry bought 13,500 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $72.92 per share, for a total transaction of $984,420.00. Following the purchase, the chief executive officer now owns 378,780 shares of the company’s stock, valued at approximately $27,620,637.60. The trade was a 3.70 % increase in their position. The disclosure for this purchase can be found here. 0.59% of the stock is currently owned by insiders.

Best Buy Trading Up 1.0 %

Shares of NYSE BBY opened at $73.86 on Thursday. The business’s 50 day moving average is $83.75 and its two-hundred day moving average is $89.47. 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 Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The stock has a market capitalization of $15.79 billion, a P/E ratio of 12.63, a PEG ratio of 2.10 and a beta of 1.43.

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

Best Buy Increases Dividend

The business 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 boost from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy’s payout ratio is presently 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.