California State Teachers Retirement System boosted its position in shares of Best Buy (NYSE:BBY) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 501,056 shares of the technology retailer’s stock after buying an additional 26,401 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Best Buy worth $34,307,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in shares of Best Buy by 232.8% in the fourth quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,030 shares of the technology retailer’s stock worth $139,000 after buying an additional 1,420 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new position in shares of Best Buy in the third quarter worth about $139,000. Squar Milner Financial Services LLC purchased a new position in shares of Best Buy in the fourth quarter worth about $201,000. Harbour Capital Advisors LLC purchased a new position in shares of Best Buy in the fourth quarter worth about $205,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Best Buy by 53,583.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,221 shares of the technology retailer’s stock worth $220,000 after buying an additional 3,215 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.
Shares of NYSE:BBY traded down $1.63 during trading on Friday, hitting $70.49. 3,203,062 shares of the company were exchanged, compared to its average volume of 3,417,552. The company has a market capitalization of $20,606.13, a PE ratio of 15.95, a P/E/G ratio of 0.97 and a beta of 0.94. The company has a current ratio of 1.26, a quick ratio of 0.59 and a debt-to-equity ratio of 0.22. Best Buy has a 12-month low of $47.68 and a 12-month high of $78.59.
Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, March 1st. The technology retailer reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.37. The business had revenue of $15.36 billion during the quarter, compared to the consensus estimate of $14.52 billion. Best Buy had a net margin of 2.37% and a return on equity of 32.68%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.93 EPS. equities research analysts predict that Best Buy will post 4.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Thursday, March 22nd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, March 21st. This is an increase from Best Buy’s previous quarterly dividend of $0.34. Best Buy’s payout ratio is currently 40.72%.
BBY has been the subject of several recent analyst reports. Wedbush set a $38.00 price objective on shares of Best Buy and gave the stock a “sell” rating in a research report on Monday, January 8th. Loop Capital set a $80.00 price objective on shares of Best Buy and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Telsey Advisory Group cut shares of Best Buy from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $62.00 to $81.00 in a research report on Thursday, January 25th. They noted that the move was a valuation call. Barclays raised their price objective on shares of Best Buy from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Finally, ValuEngine upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $70.88.
In other Best Buy news, insider Shari L. Ballard sold 3,475 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $72.45, for a total value of $251,763.75. Following the transaction, the insider now directly owns 116,785 shares of the company’s stock, valued at approximately $8,461,073.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patricia H. Walker sold 1,569 shares of the business’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $68.72, for a total transaction of $107,821.68. Following the completion of the transaction, the insider now directly owns 35,552 shares in the company, valued at $2,443,133.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 356,785 shares of company stock valued at $24,999,914. 1.21% of the stock is owned by insiders.
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About Best Buy
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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