Jones Financial Companies Lllp Buys 5,873 Shares of Best Buy Co., Inc. (NYSE:BBY)

Jones Financial Companies Lllp raised its holdings in Best Buy Co., Inc. (NYSE:BBY) by 55.4% in the 4th quarter, HoldingsChannel reports. The fund owned 16,468 shares of the technology retailer’s stock after acquiring an additional 5,873 shares during the period. Jones Financial Companies Lllp’s holdings in Best Buy were worth $1,413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. increased its position in shares of Best Buy by 27.4% during the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after buying an additional 19,405 shares during the period. Pinnacle Financial Partners Inc bought a new position in shares of Best Buy in the fourth quarter valued at $3,293,000. Klein Pavlis & Peasley Financial Inc. lifted its stake in shares of Best Buy by 48.6% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 26,400 shares of the technology retailer’s stock valued at $2,265,000 after buying an additional 8,640 shares in the last quarter. Alberta Investment Management Corp lifted its stake in shares of Best Buy by 424.0% in the fourth quarter. Alberta Investment Management Corp now owns 26,200 shares of the technology retailer’s stock valued at $2,248,000 after buying an additional 21,200 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Best Buy in the fourth quarter valued at $453,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the transaction, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BBY shares. Jefferies Financial Group lowered their target price on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday. Wedbush reiterated a “neutral” rating and issued a $90.00 target price on shares of Best Buy in a research note on Monday, March 3rd. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Guggenheim cut their price objective on shares of Best Buy from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Evercore ISI dropped their target price on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.50.

Best Buy Stock Up 1.3 %

Shares of Best Buy stock opened at $79.66 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $85.58 and its two-hundred day simple moving average is $90.39. The company has a market cap of $17.03 billion, a P/E ratio of 13.62, a PEG ratio of 2.10 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.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.18. The business had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same period in the previous year, the firm earned $2.72 EPS. Research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be given a dividend of $0.95 per share. This is an increase from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy’s payout ratio is presently 88.99%.

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.