Wambolt & Associates LLC Boosts Stock Position in Best Buy Co., Inc. (NYSE:BBY)

Wambolt & Associates LLC boosted its position in shares of Best Buy Co., Inc. (NYSE:BBYGet Rating) by 4.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 18,043 shares of the technology retailer’s stock after buying an additional 755 shares during the quarter. Wambolt & Associates LLC’s holdings in Best Buy were worth $1,833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Leuthold Group LLC lifted its position in shares of Best Buy by 0.3% during the third quarter. Leuthold Group LLC now owns 26,301 shares of the technology retailer’s stock worth $2,780,000 after purchasing an additional 81 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Best Buy by 2.0% during the third quarter. Cetera Investment Advisers now owns 4,332 shares of the technology retailer’s stock worth $458,000 after purchasing an additional 83 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Best Buy by 1.3% during the third quarter. MML Investors Services LLC now owns 6,620 shares of the technology retailer’s stock worth $700,000 after purchasing an additional 84 shares during the last quarter. Vantage Consulting Group Inc lifted its position in shares of Best Buy by 4.0% during the third quarter. Vantage Consulting Group Inc now owns 2,324 shares of the technology retailer’s stock worth $246,000 after purchasing an additional 89 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its position in shares of Best Buy by 65.4% during the third quarter. Stonebridge Capital Advisors LLC now owns 253 shares of the technology retailer’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

Shares of BBY stock traded up $1.79 during trading hours on Monday, reaching $93.07. 1,640,998 shares of the company’s stock were exchanged, compared to its average volume of 3,045,172. Best Buy Co., Inc. has a 1 year low of $85.58 and a 1 year high of $141.97. The stock has a market cap of $20.96 billion, a PE ratio of 9.46, a PEG ratio of 1.10 and a beta of 1.51. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.40. The stock’s fifty day moving average price is $96.51 and its two-hundred day moving average price is $104.86.

Best Buy (NYSE:BBYGet Rating) last issued its quarterly earnings results on Thursday, March 3rd. The technology retailer reported $2.73 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $2.73. The business had revenue of $16.37 billion for the quarter, compared to analyst estimates of $16.54 billion. Best Buy had a return on equity of 63.23% and a net margin of 4.74%. The company’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.48 earnings per share. On average, equities analysts expect that Best Buy Co., Inc. will post 8.97 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 24th were given a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $3.52 dividend on an annualized basis and a yield of 3.78%. This is a positive change from Best Buy’s previous quarterly dividend of $0.70. Best Buy’s dividend payout ratio is currently 35.77%.

In other Best Buy news, insider Brian A. Tilzer sold 4,259 shares of the company’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $99.06, for a total value of $421,896.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Todd G. Hartman sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $101.73, for a total value of $203,460.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,955 shares of company stock worth $3,662,097. 0.36% of the stock is owned by insiders.

Several research firms recently weighed in on BBY. Citigroup decreased their price objective on Best Buy from $90.00 to $87.00 and set a “buy” rating for the company in a report on Monday, February 28th. Zacks Investment Research upgraded Best Buy from a “sell” rating to a “hold” rating and set a $102.00 price objective for the company in a report on Wednesday, March 2nd. Jefferies Financial Group lifted their price objective on Best Buy from $137.00 to $140.00 and gave the company a “buy” rating in a report on Friday, March 4th. Morgan Stanley decreased their price objective on Best Buy from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Tuesday, January 18th. Finally, JPMorgan Chase & Co. decreased their price objective on Best Buy from $134.00 to $107.00 and set a “buy” rating for the company in a report on Monday, February 28th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Best Buy has a consensus rating of “Buy” and an average target price of $118.93.

About Best Buy (Get Rating)

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.

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Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBYGet Rating).

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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