Blair William & Co. IL Purchases 324 Shares of Best Buy Co., Inc. (NYSE:BBY)

Blair William & Co. IL raised its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,444 shares of the technology retailer’s stock after buying an additional 324 shares during the quarter. Blair William & Co. IL’s holdings in Best Buy were worth $4,156,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in 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 valued at $29,000 after purchasing an additional 311 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Best Buy in the 4th quarter worth $32,000. LRI Investments LLC increased its holdings in shares of Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after buying an additional 335 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Best Buy during the 4th quarter valued at about $34,000. Finally, Trust Co. of Vermont lifted its holdings in shares of Best Buy by 1,200.0% in the 4th 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 during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

BBY opened at $73.73 on Tuesday. The company has a market capitalization of $15.58 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 2.10 and a beta of 1.43. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71. The business’s fifty day simple moving average is $82.34 and its 200-day simple moving average is $88.01.

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

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be issued a dividend of $0.95 per share. The ex-dividend date is Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a yield of 5.15%. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s dividend payout ratio is currently 88.99%.

Insider Buying and Selling at Best Buy

In related news, CEO Corie S. Barry acquired 13,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $72.92 per share, with a total value of $984,420.00. Following the completion of the transaction, the chief executive officer now directly owns 378,780 shares in the company, valued at $27,620,637.60. This trade represents a 3.70 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mathew Watson sold 3,182 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $71.29, for a total transaction of $226,844.78. Following the completion of the transaction, the chief accounting officer now owns 19,218 shares of the company’s stock, valued at $1,370,051.22. This represents a 14.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,355 shares of company stock valued at $5,767,213. 0.59% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group reduced their price objective on Best Buy from $106.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. DA Davidson decreased their price target on Best Buy from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a research note on Wednesday, March 5th. Telsey Advisory Group reduced their target price on shares of Best Buy from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Finally, Loop Capital reaffirmed a “negative” rating on shares of Best Buy in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $93.50.

About Best Buy

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.