Fisher Funds Management LTD Takes Position in Best Buy Co., Inc. (NYSE:BBY)

Fisher Funds Management LTD acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,670 shares of the technology retailer’s stock, valued at approximately $3,937,000.

A number of other large investors have also recently bought and sold shares of the business. Yousif Capital Management LLC lifted its stake in shares of Best Buy by 0.5% in the 4th quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer’s stock valued at $2,566,000 after purchasing an additional 145 shares during the period. Access Investment Management LLC boosted its holdings in shares of Best Buy by 12.2% during the 3rd quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer’s stock worth $143,000 after buying an additional 150 shares in the last quarter. Claro Advisors LLC grew its position in shares of Best Buy by 5.7% during the 4th quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer’s stock worth $246,000 after buying an additional 154 shares during the period. Rosenberg Matthew Hamilton lifted its position in shares of Best Buy by 14.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,243 shares of the technology retailer’s stock valued at $107,000 after acquiring an additional 155 shares during the period. Finally, Empirical Finance LLC lifted its position in shares of Best Buy by 1.2% during the 3rd quarter. Empirical Finance LLC now owns 15,012 shares of the technology retailer’s stock valued at $1,551,000 after acquiring an additional 173 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Performance

BBY stock opened at $89.80 on Monday. The business has a 50 day moving average of $86.10 and a 200-day moving average of $90.43. The firm has a market cap of $19.20 billion, a PE ratio of 15.35, a P/E/G ratio of 2.13 and a beta of 1.43. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The company had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.63 billion. During the same period last year, the firm posted $1.29 earnings per share. Best Buy’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share 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 paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.19%. Best Buy’s payout ratio is currently 64.27%.

Analysts Set New Price Targets

BBY has been the subject of several research analyst reports. Loop Capital reaffirmed a “buy” rating and issued a $100.00 price target on shares of Best Buy in a research note on Wednesday, December 18th. Barclays decreased their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research report on Thursday, January 9th. Citigroup cut their price target on Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their price objective on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company cut 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Best Buy presently has a consensus rating of “Moderate Buy” and an average price target of $101.72.

Insider Buying and Selling

In related news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy 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 completion of the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.59% of the stock is currently owned by insiders.

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.