Rhumbline Advisers lowered its position in shares of Best Buy Co., Inc. (NYSE:BBY – Get Rating) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 401,358 shares of the technology retailer’s stock after selling 216 shares during the quarter. Rhumbline Advisers’ holdings in Best Buy were worth $40,778,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Counterpoint Mutual Funds LLC purchased a new stake in shares of Best Buy in the fourth quarter valued at approximately $25,000. Stonebridge Capital Advisors LLC grew its position in shares of Best Buy by 65.4% in the third quarter. Stonebridge Capital Advisors LLC now owns 253 shares of the technology retailer’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Concord Wealth Partners grew its position in shares of Best Buy by 1,016.0% in the fourth quarter. Concord Wealth Partners now owns 279 shares of the technology retailer’s stock valued at $28,000 after purchasing an additional 254 shares in the last quarter. Jacobi Capital Management LLC purchased a new stake in shares of Best Buy in the third quarter valued at approximately $29,000. Finally, Widmann Financial Services Inc. purchased a new stake in shares of Best Buy in the fourth quarter valued at approximately $31,000. 80.79% of the stock is owned by institutional investors and hedge funds.
Shares of Best Buy stock opened at $84.77 on Tuesday. The business has a 50-day moving average of $94.20 and a 200-day moving average of $102.20. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.43. The company has a market capitalization of $19.07 billion, a PE ratio of 8.61, a P/E/G ratio of 1.02 and a beta of 1.42. Best Buy Co., Inc. has a 1-year low of $82.02 and a 1-year high of $141.97.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 24th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Wednesday, March 23rd. This is a positive change from Best Buy’s previous quarterly dividend of $0.70. Best Buy’s dividend payout ratio (DPR) is currently 35.77%.
In related news, insider Todd G. Hartman sold 1,188 shares of Best Buy stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $95.72, for a total value of $113,715.36. Following the completion of the sale, the insider now owns 34,513 shares of the company’s stock, valued at approximately $3,303,584.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Todd G. Hartman sold 2,000 shares of Best Buy stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $101.73, for a total transaction of $203,460.00. The disclosure for this sale can be found here. Insiders have sold 36,955 shares of company stock worth $3,662,097 in the last quarter. Company insiders own 0.36% of the company’s stock.
Several research analysts recently weighed in on the company. Wedbush lowered their price objective on Best Buy from $110.00 to $80.00 and set a “na” rating for the company in a research report on Monday. Jefferies Financial Group increased their price objective on Best Buy from $137.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, March 4th. Telsey Advisory Group lowered their price target on Best Buy from $150.00 to $125.00 and set an “outperform” rating for the company in a research 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 target for the company in a research report on Wednesday, March 2nd. Finally, Wells Fargo & Company reduced their price objective on Best Buy from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, February 28th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Best Buy currently has a consensus rating of “Buy” and a consensus price target of $115.47.
Best Buy Profile (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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