Nebula Research & Development LLC Invests $533,000 in Best Buy Co., Inc. (NYSE:BBY)

Nebula Research & Development LLC purchased a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,215 shares of the technology retailer's stock, valued at approximately $533,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Best Buy during the fourth quarter worth $514,483,000. Norges Bank acquired a new stake in shares of Best Buy in the 4th quarter worth about $178,015,000. Invesco Ltd. lifted its position in Best Buy by 20.5% in the 4th quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer's stock valued at $316,784,000 after acquiring an additional 629,180 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Best Buy by 101.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,114,928 shares of the technology retailer's stock valued at $95,661,000 after purchasing an additional 561,413 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Best Buy by 461.2% during the 4th quarter. Canada Pension Plan Investment Board now owns 621,994 shares of the technology retailer's stock worth $53,367,000 after purchasing an additional 511,161 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Stock Performance

Shares of BBY traded up $1.01 during trading hours on Friday, hitting $68.05. The company's stock had a trading volume of 3,315,467 shares, compared to its average volume of 3,325,997. The business has a 50 day simple moving average of $70.11 and a two-hundred day simple moving average of $81.83. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week 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. The company has a market cap of $14.38 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 2.10 and a beta of 1.27.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $13.69 billion. During the same quarter in the previous year, the firm posted $2.72 EPS. On average, equities analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th were given a dividend of $0.95 per share. The ex-dividend date of this dividend 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 dividend yield of 5.58%. Best Buy's dividend payout ratio is currently 88.99%.

Insider Transactions at Best Buy

In other Best Buy news, CEO Corie S. Barry acquired 13,500 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $72.92 per share, with a total value of $984,420.00. Following the completion of the purchase, the chief executive officer now owns 378,780 shares of the company's stock, valued at approximately $27,620,637.60. This 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 through this link. Also, insider Todd G. Hartman sold 4,893 shares of the company's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $355,476.45. Following the completion of the transaction, the insider now owns 32,320 shares in the company, valued at $2,348,048. This represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,355 shares of company stock valued at $5,767,213. 0.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BBY has been the topic of several analyst reports. UBS Group set a $105.00 target price on Best Buy in a research report on Wednesday, March 5th. Telsey Advisory Group cut their price objective on shares of Best Buy from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Bank of America lowered their target price on shares of Best Buy from $80.00 to $75.00 and set an "underperform" rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on shares of Best Buy from $115.00 to $110.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Finally, Guggenheim reduced their price objective on shares of Best Buy from $105.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $91.28.

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.