Best Buy Co., Inc. (NYSE:BBY) Shares Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 32.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,078 shares of the technology retailer's stock after buying an additional 5,917 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Best Buy were worth $2,066,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BBY. Rakuten Securities Inc. grew 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 last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Best Buy in the 4th quarter valued at about $32,000. OFI Invest Asset Management purchased a new position in Best Buy during the 4th quarter worth approximately $34,000. Trust Co. of Vermont increased its position in Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer's stock worth $36,000 after buying an additional 384 shares during the period. Finally, LRI Investments LLC lifted its stake in 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 buying an additional 335 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BBY shares. DA Davidson lowered their target price on shares of Best Buy from $117.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. UBS Group set a $105.00 price objective on shares of Best Buy in a research note on Wednesday, March 5th. Wedbush reaffirmed a "neutral" rating and set a $90.00 price objective on shares of Best Buy in a research note on Monday, March 3rd. Jefferies Financial Group lowered their target price on 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 restated a "sector weight" rating on shares of Best Buy in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $93.50.

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Best Buy Price Performance

Shares of NYSE:BBY traded up $0.75 on Tuesday, hitting $74.36. The company had a trading volume of 2,346,416 shares, compared to its average volume of 3,049,994. The company has a market cap of $15.72 billion, a PE ratio of 12.71, a PEG ratio of 2.10 and a beta of 1.43. The business has a 50 day moving average of $82.34 and a 200 day moving average of $88.01. Best Buy Co., Inc. has a 52-week low of $69.29 and a 52-week high of $103.71. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

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

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be given a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.11%. This is an increase from Best Buy's previous quarterly dividend of $0.94. Best Buy's payout ratio is currently 88.99%.

Insider Activity at Best Buy

In related news, CAO Mathew Watson sold 3,182 shares of the business's 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 directly owns 19,218 shares in the company, valued at approximately $1,370,051.22. The trade was a 14.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew M. Bilunas sold 51,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $74.20, for a total transaction of $3,784,200.00. Following the transaction, the chief financial officer now directly owns 55,856 shares in the company, valued at approximately $4,144,515.20. This represents a 47.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,355 shares of company stock worth $5,767,213. 0.59% of the stock is currently owned by insiders.

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.