Commonwealth Equity Services LLC grew its position in Best Buy Co., Inc. (NYSE:BBY – Get Rating) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,577 shares of the technology retailer’s stock after acquiring an additional 5,879 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Best Buy were worth $7,746,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of BBY. Benjamin F. Edwards & Company Inc. increased its position in shares of Best Buy by 1,323.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 17,519 shares of the technology retailer’s stock valued at $1,405,000 after buying an additional 16,288 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in Best Buy during the 4th quarter worth approximately $246,000. Metis Global Partners LLC lifted its position in Best Buy by 76.5% during the 4th quarter. Metis Global Partners LLC now owns 12,678 shares of the technology retailer’s stock worth $1,017,000 after acquiring an additional 5,496 shares in the last quarter. WMS Partners LLC acquired a new position in Best Buy during the 4th quarter worth approximately $250,000. Finally, FourThought Financial Partners LLC acquired a new position in Best Buy during the 4th quarter worth approximately $5,903,000. 78.48% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Best Buy
In other Best Buy news, CAO Mathew Watson sold 2,704 shares of Best Buy stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $77.95, for a total transaction of $210,776.80. Following the completion of the sale, the chief accounting officer now directly owns 22,329 shares in the company, valued at $1,740,545.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Mathew Watson sold 2,704 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $77.95, for a total value of $210,776.80. Following the completion of the sale, the chief accounting officer now directly owns 22,329 shares in the company, valued at approximately $1,740,545.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Damien Harmon sold 5,915 shares of Best Buy stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $77.95, for a total transaction of $461,074.25. Following the completion of the transaction, the executive vice president now directly owns 46,809 shares in the company, valued at $3,648,761.55. The disclosure for this sale can be found here. Insiders sold a total of 57,774 shares of company stock worth $4,477,413 over the last three months. 0.44% of the stock is owned by insiders.
Analysts Set New Price Targets
Best Buy Stock Down 1.5 %
Shares of BBY opened at $72.46 on Tuesday. Best Buy Co., Inc. has a 52 week low of $60.78 and a 52 week high of $93.32. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.47 and a beta of 1.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.41 and a current ratio of 0.98. The stock has a fifty day moving average of $75.78 and a 200-day moving average of $78.69.
Best Buy (NYSE:BBY – Get Rating) last issued its earnings results on Thursday, March 2nd. The technology retailer reported $2.61 EPS for the quarter, beating the consensus estimate of $2.09 by $0.52. Best Buy had a return on equity of 55.81% and a net margin of 3.06%. The company had revenue of $14.74 billion during the quarter, compared to the consensus estimate of $14.80 billion. During the same period last year, the business posted $2.73 EPS. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.25 earnings per share for the current fiscal year.
Best Buy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 13th. Stockholders of record on Thursday, March 23rd were given a $0.92 dividend. This is a positive change from Best Buy’s previous quarterly dividend of $0.88. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Wednesday, March 22nd. Best Buy’s dividend payout ratio (DPR) is 58.51%.
About Best Buy
Best Buy Co, Inc engages in the provision of consumer technology products and services. It operates through two business segments: Domestic and International. The Domestic segment includes operations in all states, districts, and territories of the U.S., operating under various brand names, including Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster, and Pacific Sales.
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