Best Buy Co., Inc. (NYSE:BBY) Shares Acquired by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. boosted its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 9.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,140 shares of the technology retailer’s stock after purchasing an additional 3,391 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Best Buy were worth $3,064,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its position in Best Buy by 4.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 109,913 shares of the technology retailer’s stock worth $7,636,000 after acquiring an additional 5,101 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Best Buy by 14.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 22,385 shares of the technology retailer’s stock worth $1,555,000 after acquiring an additional 2,902 shares during the period. Xponance Inc. boosted its position in Best Buy by 2.7% during the 3rd quarter. Xponance Inc. now owns 30,879 shares of the technology retailer’s stock worth $2,145,000 after acquiring an additional 802 shares during the period. Brown Advisory Inc. boosted its position in Best Buy by 0.4% during the 3rd quarter. Brown Advisory Inc. now owns 282,064 shares of the technology retailer’s stock worth $19,595,000 after acquiring an additional 1,141 shares during the period. Finally, New York State Teachers Retirement System boosted its position in Best Buy by 3.3% during the 3rd quarter. New York State Teachers Retirement System now owns 216,081 shares of the technology retailer’s stock worth $15,011,000 after acquiring an additional 6,987 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In other news, insider Todd G. Hartman sold 3,973 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $324,991.40. Following the completion of the sale, the insider now owns 25,912 shares in the company, valued at approximately $2,119,601.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Todd G. Hartman sold 3,973 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $324,991.40. Following the sale, the insider now owns 25,912 shares in the company, valued at $2,119,601.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Corie S. Barry sold 28,042 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $2,293,835.60. Following the transaction, the chief executive officer now directly owns 429,159 shares in the company, valued at approximately $35,105,206.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,023 shares of company stock worth $4,253,900. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Best Buy from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Telsey Advisory Group raised Best Buy from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $95.00 in a research report on Wednesday, March 20th. UBS Group boosted their target price on Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Morgan Stanley boosted their target price on Best Buy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Finally, Citigroup boosted their target price on Best Buy from $67.00 to $76.00 and gave the stock a “sell” rating in a research 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 company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.60.

Best Buy Stock Performance

Shares of NYSE BBY opened at $74.47 on Friday. The business’s 50-day moving average price is $77.92 and its two-hundred day moving average price is $74.23. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 0.37. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $86.11. The company has a market capitalization of $16.11 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.94 and a beta of 1.50.

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

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend was Wednesday, March 20th. This is an increase from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s dividend payout ratio is 66.08%.

Best Buy Company Profile

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.