Best Buy Co., Inc. (NYSE:BBY) Shares Bought by AdvisorNet Financial Inc

AdvisorNet Financial Inc raised its position in Best Buy Co., Inc. (NYSE:BBYFree Report) by 13.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,575 shares of the technology retailer’s stock after acquiring an additional 190 shares during the quarter. AdvisorNet Financial Inc’s holdings in Best Buy were worth $123,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BBY. Price T Rowe Associates Inc. MD boosted its holdings in Best Buy by 32.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,885,308 shares of the technology retailer’s stock worth $773,724,000 after buying an additional 2,409,006 shares during the last quarter. Norges Bank acquired a new stake in Best Buy in the 4th quarter worth about $161,121,000. HS Management Partners LLC acquired a new stake in Best Buy in the 4th quarter worth about $103,854,000. Renaissance Technologies LLC boosted its holdings in shares of Best Buy by 1,079.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,330,700 shares of the technology retailer’s stock worth $104,154,000 after purchasing an additional 1,217,900 shares during the last quarter. Finally, Capital World Investors acquired a new position in shares of Best Buy during the 1st quarter worth approximately $99,081,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Best Buy

In other news, insider Todd G. Hartman sold 3,973 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $324,991.40. Following the completion of the sale, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Todd G. Hartman sold 3,973 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $324,991.40. Following the completion of the sale, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kathleen Scarlett sold 5,096 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $416,852.80. Following the completion of the sale, the executive vice president now directly owns 76,226 shares of the company’s stock, valued at $6,235,286.80. The disclosure for this sale can be found here. Insiders sold 47,874 shares of company stock worth $3,916,093 over the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Best Buy Stock Down 1.1 %

Shares of NYSE BBY opened at $79.30 on Thursday. The firm has a market cap of $17.08 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 2.13 and a beta of 1.49. The company has a quick ratio of 0.37, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 52-week low of $62.30 and a 52-week high of $86.11. The business’s 50 day moving average is $76.97 and its two-hundred day moving average is $73.16.

Best Buy (NYSE:BBYGet Free Report) last announced its earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, beating 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 return on equity of 48.45% and a net margin of 2.86%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.61 earnings per share. Research analysts predict that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Wednesday, March 20th. This is an increase from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s dividend payout ratio is currently 66.08%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. TheStreet upgraded Best Buy from a “c” rating to a “b-” rating in a report on Thursday, February 29th. Barclays boosted their target price on Best Buy from $69.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Morgan Stanley boosted their target price on Best Buy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Jefferies Financial Group upgraded Best Buy from a “hold” rating to a “buy” rating and boosted their target price for the stock from $69.00 to $89.00 in a report on Monday, December 11th. Finally, Wedbush lifted their price target on shares of Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.27.

Read Our Latest Report on Best Buy

Best Buy Company 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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