Blue Trust Inc. Purchases 416 Shares of Best Buy Co., Inc. (NYSE:BBY)

Blue Trust Inc. increased its position in Best Buy Co., Inc. (NYSE:BBYFree Report) by 15.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,050 shares of the technology retailer’s stock after buying an additional 416 shares during the period. Blue Trust Inc.’s holdings in Best Buy were worth $239,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BBY. Cary Street Partners Investment Advisory LLC boosted its holdings in Best Buy by 549.1% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer’s stock worth $25,000 after buying an additional 302 shares during the period. Stonebridge Capital Advisors LLC boosted its holdings in shares of Best Buy by 81.9% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer’s stock valued at $29,000 after purchasing an additional 185 shares during the last quarter. Clear Street Markets LLC boosted its holdings in shares of Best Buy by 90.6% during the 1st quarter. Clear Street Markets LLC now owns 385 shares of the technology retailer’s stock valued at $30,000 after purchasing an additional 183 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in shares of Best Buy by 30.5% during the 3rd quarter. Clearstead Advisors LLC now owns 724 shares of the technology retailer’s stock valued at $46,000 after purchasing an additional 169 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Best Buy during the 1st quarter valued at about $48,000. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Best Buy stock opened at $82.03 on Monday. 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 1-year low of $62.30 and a 1-year high of $86.11. The firm has a market capitalization of $17.67 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 2.14 and a beta of 1.49. The company’s 50-day moving average is $76.67 and its 200 day moving average is $73.04.

Best Buy (NYSE:BBYGet Free Report) last posted its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.21. The company had revenue of $14.65 billion for 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 firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $2.61 EPS. Research analysts forecast that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st will be given a dividend of $0.94 per share. The ex-dividend date is Wednesday, March 20th. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.58%. Best Buy’s dividend payout ratio (DPR) is 66.08%.

Insider Transactions at Best Buy

In other news, EVP Kathleen Scarlett sold 5,096 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $416,852.80. Following the transaction, the executive vice president now directly owns 76,226 shares of the company’s stock, valued at $6,235,286.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Corie S. Barry sold 28,042 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were 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 $35,105,206.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kathleen Scarlett sold 5,096 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $416,852.80. Following the transaction, the executive vice president now owns 76,226 shares in the company, valued at $6,235,286.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,874 shares of company stock valued at $3,916,093. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup increased their price objective on shares of Best Buy from $67.00 to $76.00 and gave the company a “sell” rating in a report on Friday, March 1st. JPMorgan Chase & Co. raised shares of Best Buy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $89.00 to $101.00 in a report on Friday, March 22nd. Wedbush increased their price objective on shares of Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, March 1st. The Goldman Sachs Group upped their target price on shares of Best Buy from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Telsey Advisory Group upgraded shares of Best Buy from a “market perform” rating to an “outperform” rating and upped their target price for the company from $85.00 to $95.00 in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $84.27.

Read Our Latest Research Report on Best Buy

Best Buy Profile

(Free Report)

Best Buy Co, Inc engages in the retail of technology products in the United States and Canada. The company operates in two segments, Domestic 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.

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Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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