Stifel Financial Corp Has $71.93 Million Stake in Best Buy Co., Inc. (NYSE:BBY)

Stifel Financial Corp trimmed its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 838,372 shares of the technology retailer's stock after selling 41,969 shares during the period. Stifel Financial Corp owned 0.39% of Best Buy worth $71,932,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. IFP Advisors Inc raised its holdings in shares of Best Buy by 5.2% during the fourth quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer's stock worth $218,000 after acquiring an additional 125 shares during the period. Mariner LLC raised its stake in shares of Best Buy by 0.3% in the 4th quarter. Mariner LLC now owns 43,215 shares of the technology retailer's stock valued at $3,708,000 after purchasing an additional 129 shares during the period. Rothschild Investment LLC lifted its holdings 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 purchasing an additional 142 shares in the last quarter. Independent Advisor Alliance boosted its position 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 worth $258,000 after buying an additional 142 shares during the period. Finally, 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 worth $2,566,000 after buying an additional 145 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Insider Activity

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

Best Buy Stock Performance

BBY stock traded up $1.71 during trading hours on Friday, hitting $67.71. 5,171,526 shares of the stock were exchanged, compared to its average volume of 3,306,581. The company has a 50-day simple moving average of $72.39 and a two-hundred day simple moving average of $82.99. The firm has a market capitalization of $14.31 billion, a P/E ratio of 11.57, a P/E/G ratio of 2.10 and a beta of 1.42. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month 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 data 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 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 analysts' expectations of $13.69 billion. During the same quarter in the previous year, the company earned $2.72 EPS. On average, analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were issued a $0.95 dividend. The ex-dividend date was Tuesday, March 25th. This is a boost from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a yield of 5.61%. Best Buy's payout ratio is currently 88.99%.

Wall Street Analysts Forecast Growth

BBY has been the topic of a number of research reports. Barclays cut their price objective on shares of Best Buy from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 9th. Telsey Advisory Group cut their price target on shares of Best Buy from $110.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Wedbush reaffirmed a "neutral" rating and issued a $90.00 target price on shares of Best Buy in a research report on Monday, March 3rd. DA Davidson reiterated a "buy" rating and set a $110.00 target price on shares of Best Buy in a report on Monday, April 14th. Finally, Piper Sandler decreased their price target on Best Buy from $102.00 to $92.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Best Buy presently has an average rating of "Hold" and an average price target of $91.28.

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.