Kiker Wealth Management LLC Invests $405,000 in Best Buy Co., Inc. (NYSE:BBY)

Kiker Wealth Management LLC bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,723 shares of the technology retailer's stock, valued at approximately $405,000.

A number of other large investors have also recently made changes to their positions in the company. Blueshift Asset Management LLC purchased a new position in shares of Best Buy during the fourth quarter worth approximately $298,000. iA Global Asset Management Inc. boosted its stake in Best Buy by 539.3% during the 4th quarter. iA Global Asset Management Inc. now owns 23,379 shares of the technology retailer's stock worth $2,006,000 after purchasing an additional 19,722 shares during the period. Brooklyn FI LLC purchased a new position in Best Buy during the 4th quarter worth $315,000. Xponance Inc. increased its stake in Best Buy by 35.7% in the fourth quarter. Xponance Inc. now owns 40,294 shares of the technology retailer's stock valued at $3,457,000 after purchasing an additional 10,590 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Best Buy in the fourth quarter valued at about $1,478,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Price Performance

Shares of NYSE BBY traded down $1.04 during trading on Tuesday, reaching $74.63. The company had a trading volume of 2,310,782 shares, compared to its average volume of 2,969,008. 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 Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. The stock has a 50-day moving average price of $83.17 and a two-hundred day moving average price of $88.84. The stock has a market capitalization of $15.77 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43.

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Best Buy (NYSE:BBY - Get Free Report) last announced its earnings results 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. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the previous year, the company posted $2.72 EPS. As a group, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a yield of 5.09%. This is a positive change from Best Buy's previous quarterly dividend of $0.94. Best Buy's dividend payout ratio (DPR) is 88.99%.

Insider Buying and Selling

In other Best Buy news, CEO Corie S. Barry acquired 13,500 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the acquisition, the chief executive officer now directly owns 378,780 shares of the company's stock, valued at $27,620,637.60. This trade represents a 3.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Mathew Watson sold 3,182 shares of the company's stock in a transaction 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 transaction, the chief accounting officer now owns 19,218 shares of the company's stock, valued at $1,370,051.22. The trade was a 14.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.59% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Citigroup reduced their price objective on Best Buy from $105.00 to $93.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Guggenheim cut their price target on Best Buy from $105.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. UBS Group set a $105.00 price objective on shares of Best Buy in a research report on Wednesday, March 5th. Jefferies Financial Group cut their price objective on shares of Best Buy from $106.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Finally, Loop Capital reiterated a "negative" 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $93.50.

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.