340 Shares in Best Buy Co., Inc. (NYSE:BBY) Acquired by Naples Money Management LLC

Naples Money Management LLC purchased a new stake in Best Buy Co., Inc. (NYSE:BBY) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 340 shares of the technology retailer’s stock, valued at approximately $27,000.

Several other hedge funds also recently added to or reduced their stakes in BBY. BlackRock Inc. boosted its stake in Best Buy by 1.2% in the first quarter. BlackRock Inc. now owns 19,612,957 shares of the technology retailer’s stock valued at $1,535,106,000 after acquiring an additional 223,536 shares in the last quarter. State Street Corp increased its position in Best Buy by 1.2% during the first quarter. State Street Corp now owns 10,152,129 shares of the technology retailer’s stock worth $803,778,000 after buying an additional 123,256 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Best Buy by 32.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,885,308 shares of the technology retailer’s stock valued at $773,724,000 after buying an additional 2,409,006 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Best Buy by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,478,759 shares of the technology retailer’s stock valued at $311,139,000 after acquiring an additional 66,770 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Best Buy by 0.7% during the first quarter. Geode Capital Management LLC now owns 4,218,968 shares of the technology retailer’s stock worth $329,735,000 after acquiring an additional 27,257 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Price Performance

Best Buy stock opened at $76.15 on Friday. The stock has a market capitalization of $16.40 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.98 and a beta of 1.49. 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 firm’s 50-day moving average is $77.96 and its two-hundred day moving average is $73.89.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, topping the consensus estimate of $2.51 by $0.21. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The firm had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.58 billion. During the same period in the previous year, the company earned $2.61 EPS. Best Buy’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts predict that Best Buy Co., Inc. will post 6.03 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.94%. This is a positive change from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date was Wednesday, March 20th. Best Buy’s dividend payout ratio (DPR) is presently 66.08%.

Insider Buying and Selling at Best Buy

In related news, insider Todd G. Hartman sold 3,973 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 value of $324,991.40. Following the sale, the insider now directly owns 25,912 shares of the company’s stock, valued at $2,119,601.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Todd G. Hartman sold 3,973 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $324,991.40. Following the transaction, the insider now directly owns 25,912 shares of the company’s stock, valued at approximately $2,119,601.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Corie S. Barry sold 366 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total value of $27,728.16. Following the sale, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The disclosure for this sale can be found here. Insiders sold 52,023 shares of company stock worth $4,253,900 in the last 90 days. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BBY shares. Telsey Advisory Group upgraded shares of Best Buy from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $85.00 to $95.00 in a research note on Wednesday, March 20th. Jefferies Financial Group lowered their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Wedbush upped their price objective on Best Buy from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Barclays lifted their target price on Best Buy from $69.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Finally, UBS Group upped their price target on Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $84.60.

Best Buy Company 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.