Dalton Greiner Hartman Maher & Co. acquired a new stake in shares of Best Buy Co Inc (NYSE:BBY) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,375 shares of the technology retailer’s stock, valued at approximately $231,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Viking Fund Management LLC increased its position in shares of Best Buy by 66.7% in the 3rd quarter. Viking Fund Management LLC now owns 10,000 shares of the technology retailer’s stock valued at $570,000 after acquiring an additional 4,000 shares during the period. Dana Investment Advisors Inc. acquired a new position in shares of Best Buy in the 3rd quarter valued at $9,482,000. Nomura Asset Management Co. Ltd. increased its position in shares of Best Buy by 5.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 48,397 shares of the technology retailer’s stock valued at $2,756,000 after acquiring an additional 2,390 shares during the period. Denali Advisors LLC acquired a new position in shares of Best Buy in the 3rd quarter valued at $740,000. Finally, Fort L.P. grew its position in Best Buy by 8.5% during the 2nd quarter. Fort L.P. now owns 136,767 shares of the technology retailer’s stock worth $7,841,000 after purchasing an additional 10,734 shares during the period. Hedge funds and other institutional investors own 88.45% of the company’s stock.
Several equities research analysts have weighed in on the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $68.00 price target on shares of Best Buy in a research report on Thursday, September 21st. UBS Group reaffirmed a “buy” rating and set a $57.00 price target (down from $60.00) on shares of Best Buy in a research report on Wednesday, September 20th. Loop Capital reaffirmed a “buy” rating and set a $72.00 price target on shares of Best Buy in a research report on Wednesday, September 20th. Oppenheimer reaffirmed a “hold” rating on shares of Best Buy in a research report on Wednesday, September 20th. Finally, Royal Bank of Canada cut their price target on Best Buy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 20th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $59.14.
In related news, insider Shari L. Ballard sold 40,018 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $56.18, for a total value of $2,248,211.24. Following the transaction, the insider now directly owns 99,304 shares of the company’s stock, valued at approximately $5,578,898.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Richard M. Schulze sold 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $58.80, for a total transaction of $58,800,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,134,253 shares of company stock worth $191,063,125 over the last ninety days. 1.21% of the stock is currently owned by corporate insiders.
Best Buy Co Inc (BBY) opened at $73.25 on Friday. The firm has a market cap of $21,410.00, a PE ratio of 18.54, a P/E/G ratio of 1.35 and a beta of 1.38. Best Buy Co Inc has a 12 month low of $41.67 and a 12 month high of $73.45. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.
Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.78. The firm had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.36 billion. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. Best Buy’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. equities analysts anticipate that Best Buy Co Inc will post 4 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 7th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Wednesday, December 6th. Best Buy’s dividend payout ratio is presently 34.43%.
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Best Buy Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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