Duality Advisers LP Invests $1.59 Million in Best Buy Co., Inc. (NYSE:BBY)

Duality Advisers LP acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,310 shares of the technology retailer’s stock, valued at approximately $1,590,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC grew its stake in shares of Best Buy by 549.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 302 shares during the period. Naples Money Management LLC acquired a new stake in shares of Best Buy during the 4th quarter worth approximately $27,000. Stonebridge Capital Advisors LLC grew its stake in shares of Best Buy by 81.9% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock worth $29,000 after purchasing an additional 185 shares during the period. Hartford Financial Management Inc. grew its stake in shares of Best Buy by 56.5% during the 4th quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock worth $30,000 after purchasing an additional 140 shares during the period. Finally, CENTRAL TRUST Co grew its stake in shares of Best Buy by 72.5% during the 4th quarter. CENTRAL TRUST Co now owns 1,004 shares of the technology retailer’s stock worth $79,000 after purchasing an additional 422 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded Best Buy from a “neutral” rating to an “overweight” rating and increased their target price for the company from $89.00 to $101.00 in a research report on Friday, March 22nd. Jefferies Financial Group decreased their target price on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Citigroup increased their target price on Best Buy from $67.00 to $76.00 and gave the company a “sell” rating in a research report on Friday, March 1st. UBS Group increased their target price on Best Buy from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, Wedbush raised their price objective on Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.60.

Best Buy Stock Down 1.3 %

NYSE BBY opened at $75.13 on Tuesday. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $86.11. The company has a quick ratio of 0.37, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $77.94 and its 200-day simple moving average is $74.03. The firm has a market cap of $16.18 billion, a PE ratio of 13.20, a P/E/G ratio of 1.99 and a beta of 1.49.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, topping the consensus estimate of $2.51 by $0.21. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.58 billion. Best Buy had a return on equity of 48.45% and a net margin of 2.86%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.61 EPS. As a group, equities analysts anticipate that Best Buy Co., Inc. will post 6.03 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.00%. This is an increase from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, March 20th. Best Buy’s dividend payout ratio (DPR) is presently 66.08%.

Insider Buying and Selling

In related news, CEO Corie S. Barry sold 366 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the sale, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Best Buy news, CEO Corie S. Barry sold 366 shares of Best Buy stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total value of $27,728.16. Following the completion of the transaction, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Todd G. Hartman sold 3,973 shares of Best Buy stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $324,991.40. Following the completion of the transaction, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,023 shares of company stock valued at $4,253,900. 0.56% of the stock is currently owned by insiders.

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.