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

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

A number of other hedge funds have also recently added to or reduced their stakes in BBY. Charles Schwab Investment Management Inc. lifted its position in shares of Best Buy by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock worth $636,840,000 after buying an additional 241,988 shares during the last quarter. Geode Capital Management LLC raised its stake in Best Buy by 2.5% during the third quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer’s stock worth $499,954,000 after acquiring an additional 120,185 shares during the period. Raymond James & Associates lifted its holdings in Best Buy by 1.8% in the third quarter. Raymond James & Associates now owns 3,440,215 shares of the technology retailer’s stock worth $355,374,000 after acquiring an additional 62,452 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Best Buy by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,055,743 shares of the technology retailer’s stock valued at $257,569,000 after purchasing an additional 235,478 shares during the period. Finally, Eagle Asset Management Inc. grew its position in shares of Best Buy by 3.3% during 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. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

BBY stock opened at $84.29 on Wednesday. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The firm has a 50-day moving average of $88.37 and a two-hundred day moving average of $90.27. The firm has a market capitalization of $18.02 billion, a PE ratio of 14.41, a P/E/G ratio of 2.19 and a beta of 1.43. 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) last posted its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. During the same period in the prior year, the business posted $1.29 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio is currently 64.27%.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the transaction, the chief financial officer now directly 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 legal filing with the SEC, which is available at this link. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BBY. Melius Research initiated coverage on Best Buy in a research report on Monday, September 23rd. They set a “hold” rating and a $100.00 price objective for the company. Telsey Advisory Group decreased their price target on Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, November 26th. Guggenheim reduced their price objective on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 29th. StockNews.com cut shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, UBS Group reduced their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Best Buy presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.06.

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.