Best Buy Co., Inc. (NYSE:BBY) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 16.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,081 shares of the technology retailer’s stock after buying an additional 434 shares during the quarter. GAMMA Investing LLC’s holdings in Best Buy were worth $264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BBY. Charles Schwab Investment Management Inc. lifted its holdings in shares of Best Buy by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock valued at $636,840,000 after purchasing an additional 241,988 shares in the last quarter. Geode Capital Management LLC lifted its stake in Best Buy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer’s stock valued at $499,954,000 after buying an additional 120,185 shares in the last quarter. Raymond James & Associates grew its holdings in Best Buy by 1.8% during the 3rd quarter. Raymond James & Associates now owns 3,440,215 shares of the technology retailer’s stock valued at $355,374,000 after buying an additional 62,452 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Best Buy by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,055,743 shares of the technology retailer’s stock worth $257,569,000 after buying an additional 235,478 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in shares of Best Buy by 3.3% in the third quarter. Eagle Asset Management Inc. now owns 1,388,151 shares of the technology retailer’s stock worth $143,396,000 after acquiring an additional 44,693 shares during the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Best Buy

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.59% of the stock is currently owned by corporate insiders.

Best Buy Trading Down 0.6 %

NYSE:BBY opened at $84.29 on Wednesday. The business’s 50-day moving average is $88.37 and its two-hundred day moving average is $90.27. The firm has a market capitalization of $18.02 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 2.19 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. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS 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 company had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. During the same quarter in the previous year, the business posted $1.29 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued 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 4.46%. Best Buy’s dividend payout ratio is currently 64.27%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company decreased their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 27th. DA Davidson reiterated a “buy” rating and set a $117.00 price target on shares of Best Buy in a report on Tuesday, October 15th. Loop Capital reissued a “buy” rating and set a $100.00 price objective on shares of Best Buy in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, UBS Group reduced their price target on Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Best Buy presently has an average rating of “Moderate Buy” and a consensus price target of $101.06.

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.