Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Klein Pavlis & Peasley Financial Inc.

Klein Pavlis & Peasley Financial Inc. lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 48.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,400 shares of the technology retailer's stock after acquiring an additional 8,640 shares during the period. Best Buy accounts for approximately 1.8% of Klein Pavlis & Peasley Financial Inc.'s portfolio, making the stock its 19th biggest position. Klein Pavlis & Peasley Financial Inc.'s holdings in Best Buy were worth $2,265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. boosted its holdings in Best Buy by 10.5% in the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer's stock valued at $3,279,000 after purchasing an additional 3,025 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Best Buy by 27.4% in the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer's stock worth $9,332,000 after acquiring an additional 19,405 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Best Buy by 13.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer's stock valued at $15,806,000 after purchasing an additional 18,171 shares during the period. Merit Financial Group LLC acquired a new position in shares of Best Buy in the 4th quarter valued at $453,000. Finally, Nordea Investment Management AB grew its holdings in shares of Best Buy by 563.8% during the 4th quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer's stock worth $50,643,000 after purchasing an additional 503,204 shares during the period. Institutional investors and hedge funds own 80.96% of the company's stock.

Insider Activity

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 value 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.59% of the company's stock.

Best Buy Stock Up 3.8 %

Shares of NYSE:BBY traded up $3.18 during trading on Monday, hitting $88.07. 2,030,683 shares of the company were exchanged, compared to its average volume of 2,396,075. 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 firm's 50 day moving average price is $85.86 and its 200-day moving average price is $90.05. The stock has a market capitalization of $18.83 billion, a P/E ratio of 15.06, a PEG ratio of 2.01 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 - Get Free Report) last posted its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm had revenue of $9.45 billion during the quarter, compared to analysts' expectations of $9.63 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. On average, research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were paid a $0.94 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a yield of 4.27%. Best Buy's dividend payout ratio is presently 64.27%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Best Buy from $111.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. StockNews.com cut shares of Best Buy from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Loop Capital reiterated a "buy" rating and issued a $100.00 target price on shares of Best Buy in a report on Wednesday, December 18th. Wells Fargo & Company lowered their price target on Best Buy from $95.00 to $89.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 27th. Finally, Telsey Advisory Group cut their price objective on Best Buy from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.72.

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.