Stablepoint Partners LLC Purchases 4,303 Shares of Best Buy Co., Inc. (NYSE:BBY)

Stablepoint Partners LLC increased its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 66.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,757 shares of the technology retailer's stock after acquiring an additional 4,303 shares during the quarter. Stablepoint Partners LLC's holdings in Best Buy were worth $792,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Rakuten Securities Inc. grew its holdings in shares of Best Buy by 971.9% in the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock valued at $29,000 after buying an additional 311 shares during the period. Vermillion Wealth Management Inc. acquired a new position in shares of Best Buy in the 4th quarter valued at $31,000. Golden State Wealth Management LLC bought a new stake in shares of Best Buy in the fourth quarter worth about $32,000. Atlas Capital Advisors Inc. increased its holdings in shares of Best Buy by 186.9% in the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock worth $32,000 after acquiring an additional 243 shares in the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of Best Buy by 18,700.0% in the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock worth $32,000 after acquiring an additional 374 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Best Buy Price Performance

NYSE BBY traded up $2.17 during trading on Tuesday, hitting $74.92. 4,246,836 shares of the stock traded hands, compared to its average volume of 3,336,073. The company has a market capitalization of $15.86 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 2.10 and a beta of 1.25. The firm has a 50-day simple moving average of $67.07 and a 200-day simple moving average of $77.98. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.06. The business had revenue of $8.77 billion during the quarter, compared to analysts' expectations of $8.77 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend is Wednesday, June 18th. Best Buy's dividend payout ratio (DPR) is 92.91%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. BNP Paribas upgraded Best Buy to a "hold" rating in a report on Friday, May 30th. JPMorgan Chase & Co. decreased their price objective on Best Buy from $115.00 to $110.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Wedbush decreased their price target on Best Buy from $75.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Morgan Stanley decreased their price target on Best Buy from $100.00 to $85.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Finally, KeyCorp restated a "sector weight" rating on shares of Best Buy in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Best Buy presently has a consensus rating of "Hold" and an average price target of $86.11.

Insider Transactions at Best Buy

In other news, CAO Mathew Watson sold 3,182 shares of Best Buy stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.29, for a total value of $226,844.78. Following the completion of the transaction, the chief accounting officer now owns 19,218 shares in the company, valued at approximately $1,370,051.22. The trade was a 14.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd G. Hartman sold 4,893 shares of Best Buy stock in a transaction that occurred on 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 of the company's stock, valued at approximately $2,348,048. This trade represents a 13.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,355 shares of company stock worth $5,767,213. 0.47% of the stock is currently owned by company insiders.

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.