Bleakley Financial Group LLC Purchases 621 Shares of Best Buy Co., Inc. (NYSE:BBY)

Bleakley Financial Group LLC lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 10.3% during the fourth quarter, HoldingsChannel reports. The firm owned 6,649 shares of the technology retailer’s stock after buying an additional 621 shares during the quarter. Bleakley Financial Group LLC’s holdings in Best Buy were worth $570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Co. of Vermont boosted its position in shares of Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after purchasing an additional 384 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Best Buy in the 3rd quarter valued at $40,000. LRI Investments LLC lifted its position in Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after acquiring an additional 335 shares in the last quarter. Brooklyn Investment Group bought a new stake in Best Buy in the 3rd quarter valued at $44,000. Finally, Richardson Financial Services Inc. lifted its position in Best Buy by 71.9% in the 4th quarter. Richardson Financial Services Inc. now owns 550 shares of the technology retailer’s stock valued at $47,000 after acquiring an additional 230 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Insider Activity at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were 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 in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.59% of the stock is owned by company insiders.

Best Buy Stock Up 3.8 %

Best Buy stock opened at $88.07 on Tuesday. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The firm has a market capitalization of $18.83 billion, a PE ratio of 15.06, a P/E/G ratio of 2.01 and a beta of 1.43. The company’s 50-day moving average is $85.86 and its 200-day moving average is $90.05. 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 (NYSE:BBY) last announced its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. During the same quarter last year, the company posted $1.29 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. Sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were paid a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a yield of 4.27%. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

Analyst Upgrades and Downgrades

BBY has been the topic of several research reports. Barclays cut their price objective on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 9th. StockNews.com cut shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Guggenheim cut their price objective on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. DA Davidson reiterated a “buy” rating and issued a $117.00 price target on shares of Best Buy in a research note on Tuesday, October 15th. Finally, Telsey Advisory Group lowered their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.72.

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.