Best Buy Co., Inc. (NYSE:BBY) Stake Increased by Saxon Interests Inc.

Saxon Interests Inc. increased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 12.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,279 shares of the technology retailer’s stock after buying an additional 709 shares during the quarter. Saxon Interests Inc.’s holdings in Best Buy were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of BBY. Avanza Fonder AB acquired a new stake in shares of Best Buy during the 4th quarter valued at about $1,848,000. Gateway Investment Advisers LLC raised its position in Best Buy by 98.9% during the fourth quarter. Gateway Investment Advisers LLC now owns 10,039 shares of the technology retailer’s stock valued at $861,000 after acquiring an additional 4,991 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Best Buy in the fourth quarter valued at approximately $351,000. USA Financial Formulas grew its position in Best Buy by 21.6% in the fourth quarter. USA Financial Formulas now owns 6,861 shares of the technology retailer’s stock worth $589,000 after acquiring an additional 1,220 shares in the last quarter. Finally, Park Avenue Securities LLC increased its stake in shares of Best Buy by 24.8% during the 4th quarter. Park Avenue Securities LLC now owns 10,334 shares of the technology retailer’s stock worth $887,000 after purchasing an additional 2,053 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BBY has been the subject of a number of recent research reports. Telsey Advisory Group decreased their price objective on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, November 26th. Melius Research initiated coverage on Best Buy in a report on Monday, September 23rd. They set a “hold” rating and a $100.00 price objective on the stock. Wells Fargo & Company lowered their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 27th. Loop Capital reaffirmed a “buy” rating and set a $100.00 target price on shares of Best Buy in a research report on Wednesday, December 18th. Finally, UBS Group reduced their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Best Buy has an average rating of “Moderate Buy” and a consensus price target of $100.72.

Best Buy Stock Performance

Shares of Best Buy stock opened at $82.50 on Friday. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The stock’s fifty day simple moving average is $87.47 and its 200 day simple moving average is $90.15. The company has a market capitalization of $17.64 billion, a PE ratio of 14.11, a PEG ratio of 2.09 and a beta of 1.43. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.04). The business had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. On average, research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

Insider Activity

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.59% of the stock is owned by corporate insiders.

About Best Buy

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.