Aaron Wealth Advisors LLC Takes Position in Best Buy Co., Inc. (NYSE:BBY)

Aaron Wealth Advisors LLC purchased a new position in Best Buy Co., Inc. (NYSE:BBYFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,949 shares of the technology retailer’s stock, valued at approximately $253,000.

Several other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. increased its position in Best Buy by 10.5% in the third quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock worth $3,279,000 after buying an additional 3,025 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Best Buy by 27.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after acquiring an additional 19,405 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Best Buy by 13.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock valued at $15,806,000 after acquiring an additional 18,171 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Best Buy during the third quarter valued at about $2,384,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Best Buy by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock worth $636,840,000 after purchasing an additional 241,988 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of NYSE BBY opened at $84.54 on Wednesday. The stock has a market cap of $18.08 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 2.06 and a beta of 1.43. The stock’s 50-day moving average is $87.02 and its 200 day moving average is $90.20. 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 1-year low of $69.29 and a 1-year high of $103.71.

Best Buy (NYSE:BBYGet Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. During the same period last year, the business posted $1.29 earnings per share. The company’s revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.45%. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

Insider Transactions at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the firm’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 transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the topic of a number of recent research reports. Citigroup dropped their price target on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Guggenheim cut their price target on Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 29th. JPMorgan Chase & Co. lifted their price target on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. DA Davidson reissued a “buy” rating and set a $117.00 price objective on shares of Best Buy in a report on Tuesday, October 15th. Finally, Barclays reduced their target price 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. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.72.

Check Out Our Latest Analysis on BBY

About Best Buy

(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.

See Also

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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