Best Buy Co., Inc. (NYSE:BBY) Stock Position Raised by Benjamin Edwards Inc.

by · The Cerbat Gem

Benjamin Edwards Inc. raised its stake in Best Buy Co., Inc. (NYSE:BBY – Free Report) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,441 shares of the technology retailer’s stock after acquiring an additional 6,625 shares during the period. Benjamin Edwards Inc.’s holdings in Best Buy were worth $7,159,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. grew its stake in Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after buying an additional 311 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Best Buy in the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. boosted its stake in Best Buy by 186.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock valued at $32,000 after purchasing an additional 243 shares during the period. Ancora Advisors LLC grew its position in Best Buy by 18,700.0% in the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 374 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Best Buy in the fourth quarter valued at approximately $34,000. 80.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BBY shares. Citigroup reiterated a “neutral” rating and set a $70.00 price objective (down from $93.00) on shares of Best Buy in a research report on Thursday, April 3rd. Wells Fargo & Company decreased their target price on shares of Best Buy from $89.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Loop Capital reissued a “negative” rating on shares of Best Buy in a report on Wednesday, March 5th. Evercore ISI decreased their price target on Best Buy from $95.00 to $80.00 and set an “in-line” rating for the company in a research note on Wednesday, March 5th. Finally, Barclays dropped their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Best Buy currently has a consensus rating of “Hold” and a consensus price target of $91.28.

View Our Latest Stock Report on Best Buy

Insider Buying and Selling at Best Buy

In other news, CFO Matthew M. Bilunas sold 51,000 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $74.20, for a total transaction of $3,784,200.00. Following the transaction, the chief financial officer now owns 55,856 shares in the company, valued at approximately $4,144,515.20. This trade represents a 47.73 % decrease in their position. The transaction 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 company’s stock in a transaction 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 completion of the sale, 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. Insiders have sold 78,355 shares of company stock worth $5,767,213 over the last 90 days. 0.59% of the stock is currently owned by corporate insiders.

Best Buy Trading Up 1.5 %

Shares of NYSE BBY opened at $68.05 on Monday. The firm has a market capitalization of $14.38 billion, a PE ratio of 11.63, a PEG ratio of 2.10 and a beta of 1.27. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $103.71. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $70.11 and a two-hundred day moving average price of $81.73.

Best Buy (NYSE:BBY – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the previous year, the firm posted $2.72 earnings per share. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were given a dividend of $0.95 per share. This is a boost from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date was Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a yield of 5.58%. Best Buy’s dividend payout ratio (DPR) is presently 88.99%.

Best Buy Company Profile

(Free Report)

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.

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