17,231 Shares in Best Buy Co., Inc. (NYSE:BBY) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,231 shares of the technology retailer's stock, valued at approximately $1,478,000.

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in shares of Best Buy by 5.2% in the 4th quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer's stock worth $218,000 after purchasing an additional 125 shares in the last quarter. Rothschild Investment LLC lifted its stake in shares of Best Buy by 19.7% in the fourth quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer's stock valued at $74,000 after buying an additional 142 shares in the last quarter. Independent Advisor Alliance grew its holdings in shares of Best Buy by 5.0% during the fourth quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer's stock valued at $258,000 after buying an additional 142 shares during the last quarter. Yousif Capital Management LLC grew its holdings in shares of Best Buy by 0.5% during the fourth quarter. Yousif Capital Management LLC now owns 29,904 shares of the technology retailer's stock valued at $2,566,000 after buying an additional 145 shares during the last quarter. Finally, Claro Advisors LLC increased its position in shares of Best Buy by 5.7% during the fourth quarter. Claro Advisors LLC now owns 2,861 shares of the technology retailer's stock worth $246,000 after acquiring an additional 154 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BBY shares. Loop Capital reiterated a "negative" rating on shares of Best Buy in a research note on Wednesday, March 5th. Jefferies Financial Group decreased their price target on Best Buy from $106.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Citigroup dropped their price objective on Best Buy from $105.00 to $93.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their target price on shares of Best Buy from $89.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. Finally, Morgan Stanley cut their price target on shares of Best Buy from $100.00 to $85.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Best Buy has an average rating of "Hold" and an average price target of $93.50.

Insider Transactions at Best Buy

In related news, CFO Matthew M. Bilunas sold 51,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $74.20, for a total value of $3,784,200.00. Following the transaction, the chief financial officer now directly owns 55,856 shares of the company's stock, valued at approximately $4,144,515.20. This represents a 47.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Todd G. Hartman sold 4,893 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $355,476.45. Following the completion of the sale, the insider now owns 32,320 shares in the company, valued at $2,348,048. This represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,355 shares of company stock valued at $5,767,213 in the last three months. 0.59% of the stock is currently owned by company insiders.

Best Buy Trading Up 0.2 %

Shares of NYSE:BBY traded up $0.16 on Wednesday, hitting $74.78. The company had a trading volume of 2,397,887 shares, compared to its average volume of 2,964,176. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm's 50-day simple moving average is $83.01 and its two-hundred day simple moving average is $88.68. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.18. The business had revenue of $13.95 billion for the quarter, compared to analysts' expectations of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period in the previous year, the firm posted $2.72 EPS. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be given a dividend of $0.95 per share. The ex-dividend date is Tuesday, March 25th. This represents a $3.80 annualized dividend and a yield of 5.08%. This is a positive change from Best Buy's previous quarterly dividend of $0.94. Best Buy's dividend payout ratio (DPR) is currently 88.99%.

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.