Stonebrook Private Inc. Makes New $1.30 Million Investment in Best Buy Co., Inc. (NYSE:BBY)

Stonebrook Private Inc. bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 16,590 shares of the technology retailer’s stock, valued at approximately $1,299,000.

A number of other institutional investors also recently modified their holdings of the company. O Brien Greene & Co. Inc boosted its stake in shares of Best Buy by 8.1% in the 4th quarter. O Brien Greene & Co. Inc now owns 56,740 shares of the technology retailer’s stock valued at $4,442,000 after purchasing an additional 4,274 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Best Buy in the 4th quarter valued at $1,336,000. Disciplined Equity Management Inc. boosted its stake in shares of Best Buy by 1.1% in the 4th quarter. Disciplined Equity Management Inc. now owns 15,093 shares of the technology retailer’s stock valued at $1,181,000 after purchasing an additional 160 shares during the last quarter. GHE LLC boosted its stake in shares of Best Buy by 1.7% in the 4th quarter. GHE LLC now owns 18,154 shares of the technology retailer’s stock valued at $1,421,000 after purchasing an additional 302 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in shares of Best Buy by 98.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 13,062 shares of the technology retailer’s stock valued at $1,032,000 after purchasing an additional 6,465 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Jefferies Financial Group dropped their target price on shares of 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 boosted their target price on shares of Best Buy from $67.00 to $76.00 and gave the company a “sell” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. upgraded shares of Best Buy from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $89.00 to $101.00 in a research report on Friday, March 22nd. Truist Financial upped their price objective on shares of Best Buy from $68.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, Wedbush upped their price objective on shares of Best Buy from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $84.60.

Best Buy Stock Down 0.3 %

Shares of NYSE BBY traded down $0.19 during trading on Friday, hitting $75.05. The stock had a trading volume of 2,125,289 shares, compared to its average volume of 2,398,775. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $86.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 0.37. The company has a market capitalization of $16.16 billion, a PE ratio of 13.19, a PEG ratio of 1.96 and a beta of 1.49. The firm has a fifty day moving average of $78.02 and a two-hundred day moving average of $74.14.

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

Best Buy Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $3.76 annualized dividend and a yield of 5.01%. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s dividend payout ratio is presently 66.08%.

Insider Activity at Best Buy

In related news, CEO Corie S. Barry sold 366 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the transaction, the chief executive officer now owns 431,231 shares in the company, valued at $32,670,060.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Corie S. Barry sold 366 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total transaction of $27,728.16. Following the completion of the transaction, the chief executive officer now owns 431,231 shares in the company, valued at $32,670,060.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Mathew Watson sold 2,505 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $204,909.00. Following the transaction, the chief accounting officer now owns 25,638 shares of the company’s stock, valued at approximately $2,097,188.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,023 shares of company stock worth $4,253,900. 0.56% of the stock is owned by company insiders.

Best Buy 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.