Brooklyn FI LLC Purchases New Holdings in Best Buy Co., Inc. (NYSE:BBY)

Brooklyn FI LLC acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,456 shares of the technology retailer's stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BBY. Rakuten Securities Inc. lifted its holdings in shares of Best Buy by 971.9% during the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock worth $29,000 after purchasing an additional 311 shares during the period. Golden State Wealth Management LLC purchased a new position in Best Buy during the 4th quarter worth $32,000. OFI Invest Asset Management purchased a new position in Best Buy during the 4th quarter worth $34,000. Trust Co. of Vermont lifted its stake in shares of Best Buy by 1,200.0% in the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer's stock worth $36,000 after acquiring an additional 384 shares during the period. Finally, LRI Investments LLC boosted its holdings in shares of Best Buy by 632.1% in the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer's stock valued at $40,000 after acquiring an additional 335 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Best Buy

In other Best Buy news, CAO Mathew Watson sold 3,182 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $71.29, for a total value of $226,844.78. Following the completion of the sale, the chief accounting officer now owns 19,218 shares of the company's stock, valued at $1,370,051.22. This trade represents a 14.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Corie S. Barry bought 13,500 shares of Best Buy stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the transaction, the chief executive officer now owns 378,780 shares of the company's stock, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their position. The disclosure for this purchase can be found here. 0.59% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

BBY has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Best Buy from $89.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Morgan Stanley decreased their price target on Best Buy from $100.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Loop Capital reaffirmed a "negative" rating on shares of Best Buy in a report on Wednesday, March 5th. Jefferies Financial Group lowered their price target on shares of Best Buy from $106.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Best Buy in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $93.50.

Best Buy Trading Up 2.9 %

BBY stock traded up $2.12 on Monday, hitting $75.68. 3,255,454 shares of the company were exchanged, compared to its average volume of 2,969,184. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The stock has a market capitalization of $16.18 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The business's fifty day moving average is $83.34 and its two-hundred day moving average is $89.01.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period last year, the company posted $2.72 EPS. As a group, research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be issued a $0.95 dividend. This is an increase from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Tuesday, March 25th. Best Buy's dividend payout ratio is currently 88.99%.

Best Buy 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.