Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Rosenberg Matthew Hamilton

Rosenberg Matthew Hamilton grew its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 14.2% during the fourth quarter, HoldingsChannel reports. The firm owned 1,243 shares of the technology retailer’s stock after buying an additional 155 shares during the period. Rosenberg Matthew Hamilton’s holdings in Best Buy were worth $107,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BBY. Richardson Financial Services Inc. increased its stake in Best Buy by 190.9% during the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after buying an additional 210 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Best Buy during the third quarter valued at about $40,000. LRI Investments LLC grew its stake in shares of Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after acquiring an additional 335 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Best Buy by 50.8% during the second quarter. Benjamin Edwards Inc. now owns 493 shares of the technology retailer’s stock worth $42,000 after acquiring an additional 166 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Best Buy in the third quarter worth about $44,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was 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 $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.59% of the stock is owned by insiders.

Best Buy Stock Performance

Shares of Best Buy stock opened at $82.66 on Wednesday. The firm has a fifty day moving average of $87.60 and a two-hundred day moving average of $90.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The stock has a market capitalization of $17.67 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 2.19 and a beta of 1.43. Best Buy Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71.

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 firm had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 EPS. As a group, equities research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. UBS Group dropped their price objective on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Telsey Advisory Group dropped their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, November 26th. Guggenheim reduced their price objective on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. JPMorgan Chase & Co. raised their price objective on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, DA Davidson restated a “buy” rating and issued a $117.00 target price on shares of Best Buy in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.72.

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.