Stratos Wealth Partners LTD. Acquires 435 Shares of Best Buy Co., Inc. (NYSE:BBY)

Stratos Wealth Partners LTD. grew its position in Best Buy Co., Inc. (NYSE:BBY) by 17.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,946 shares of the technology retailer’s stock after purchasing an additional 435 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Best Buy were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of BBY. QRG Capital Management Inc. grew its stake in Best Buy by 10.5% during the third quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock worth $3,279,000 after buying an additional 3,025 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Best Buy by 27.4% during the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock valued at $9,332,000 after acquiring an additional 19,405 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Best Buy by 13.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock worth $15,806,000 after purchasing an additional 18,171 shares during the period. Merit Financial Group LLC bought a new stake in shares of Best Buy in the fourth quarter worth $453,000. Finally, Nordea Investment Management AB increased its holdings in Best Buy by 563.8% in the fourth quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock valued at $50,643,000 after purchasing an additional 503,204 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Performance

NYSE BBY opened at $89.24 on Friday. The firm has a market cap of $19.08 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 2.01 and a beta of 1.43. 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 company’s 50 day moving average is $85.71 and its 200-day moving average is $90.04. Best Buy Co., Inc. has a 12-month low of $69.29 and a 12-month high of $103.71.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $9.63 billion. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Sell-side analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio is currently 64.27%.

Insider Buying and Selling at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the sale, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.59% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on BBY shares. Citigroup cut their target price on Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Guggenheim cut their price objective on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Morgan Stanley lowered their price target on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Finally, Telsey Advisory Group reduced their price objective on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Best Buy currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.72.

Best Buy Company 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.