Best Buy Co., Inc. (NYSE:BBY) Shares Acquired by PrairieView Partners LLC

PrairieView Partners LLC lifted its stake in Best Buy Co., Inc. (NYSE:BBY) by 119.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 829 shares of the technology retailer’s stock after buying an additional 451 shares during the period. PrairieView Partners LLC’s holdings in Best Buy were worth $71,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Greenleaf Trust raised its holdings in Best Buy by 1.2% in the third quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer’s stock valued at $977,000 after acquiring an additional 108 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in Best Buy by 4.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer’s stock valued at $276,000 after buying an additional 118 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Best Buy by 0.5% in the 4th quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock valued at $2,566,000 after acquiring an additional 145 shares during the last quarter. Access Investment Management LLC lifted its holdings in Best Buy by 12.2% in the 3rd quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock valued at $143,000 after acquiring an additional 150 shares during the last quarter. Finally, Claro Advisors LLC lifted its holdings in Best Buy by 5.7% in the 4th quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock valued at $246,000 after acquiring an additional 154 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on BBY. Citigroup reduced their price objective on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company dropped their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 27th. UBS Group lowered their price target on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Telsey Advisory Group lowered their price target on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. Finally, StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Best Buy has an average rating of “Moderate Buy” and a consensus price target of $101.72.

Best Buy Stock Performance

Shares of NYSE:BBY opened at $86.79 on Thursday. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The firm has a market cap of $18.56 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 2.01 and a beta of 1.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The business has a fifty day moving average of $85.79 and a 200-day moving average of $90.06.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). The firm had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. Best Buy’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. On average, equities research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.33%. Best Buy’s payout ratio is currently 64.27%.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.59% of the company’s stock.

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.