5,482 Shares in Best Buy Co., Inc. (NYSE:BBY) Bought by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP acquired a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,482 shares of the technology retailer's stock, valued at approximately $470,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stevens Capital Management LP lifted its stake in Best Buy by 228.7% in the 4th quarter. Stevens Capital Management LP now owns 22,625 shares of the technology retailer's stock worth $1,941,000 after purchasing an additional 15,741 shares in the last quarter. Vanguard Group Inc. boosted its stake in Best Buy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer's stock worth $1,971,908,000 after buying an additional 191,161 shares during the period. Pinnacle Financial Partners Inc purchased a new stake in shares of Best Buy in the 4th quarter valued at approximately $3,293,000. Klein Pavlis & Peasley Financial Inc. raised its position in Best Buy by 48.6% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 26,400 shares of the technology retailer's stock valued at $2,265,000 after purchasing an additional 8,640 shares during the period. Finally, Alberta Investment Management Corp grew its stake in shares of Best Buy by 424.0% during the fourth quarter. Alberta Investment Management Corp now owns 26,200 shares of the technology retailer's stock worth $2,248,000 after purchasing an additional 21,200 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Insider Buying and Selling at Best Buy

In related news, insider Todd G. Hartman sold 4,893 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $72.65, for a total value 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 trade represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matthew M. Bilunas sold 51,000 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now owns 55,856 shares in the company, valued at approximately $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. 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.

Wall Street Analyst Weigh In

BBY has been the topic of a number of recent research reports. Loop Capital reissued a "negative" rating on shares of Best Buy in a report on Wednesday, March 5th. UBS Group set a $105.00 price target on shares of Best Buy in a research note on Wednesday, March 5th. Evercore ISI reduced their price target on Best Buy from $95.00 to $80.00 and set an "in-line" rating for the company in a report on Wednesday, March 5th. KeyCorp reiterated a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Best Buy from $115.00 to $110.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Two equities 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 company's stock. Based on data from MarketBeat.com, Best Buy has a consensus rating of "Hold" and an average target price of $91.28.

Best Buy Stock Up 3.9 %

BBY traded up $2.34 on Friday, reaching $61.97. 3,861,900 shares of the company traded hands, compared to its average volume of 3,260,441. 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 $13.10 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 2.10 and a beta of 1.42. The stock's 50 day moving average price is $75.45 and its 200-day moving average price is $84.44.

Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period last year, the company earned $2.72 earnings per share. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 6.13%. This is a boost from Best Buy's previous quarterly dividend of $0.94. The ex-dividend date was Tuesday, March 25th. Best Buy's dividend payout ratio is 88.99%.

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.