Total Wealth Planning & Management Inc. Makes New $731,000 Investment in Best Buy Co., Inc. (NYSE:BBY)

Total Wealth Planning & Management Inc. bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,515 shares of the technology retailer's stock, valued at approximately $731,000.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Best Buy during the fourth quarter worth about $514,483,000. Norges Bank purchased a new position in Best Buy in the fourth quarter valued at $178,015,000. Northern Trust Corp raised its stake in Best Buy by 31.3% in the fourth quarter. Northern Trust Corp now owns 2,942,832 shares of the technology retailer's stock valued at $252,495,000 after buying an additional 701,287 shares in the last quarter. Invesco Ltd. lifted its holdings in Best Buy by 20.5% during the 4th quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer's stock worth $316,784,000 after buying an additional 629,180 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of 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 worth $95,661,000 after acquiring an additional 561,413 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Stock Performance

Shares of NYSE:BBY traded down $0.07 during midday trading on Friday, hitting $66.25. The company's stock had a trading volume of 6,437,906 shares, compared to its average volume of 3,414,174. The stock's 50 day simple moving average is $67.42 and its 200 day simple moving average is $79.09. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.71. The stock has a market capitalization of $14.02 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 2.10 and a beta of 1.27. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00.

Best Buy (NYSE:BBY - Get Free Report) last released its 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 net margin of 3.01% and a return on equity of 45.93%. The firm's revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. As a group, research analysts anticipate that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 19th will be issued a dividend of $0.95 per share. The ex-dividend date is Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.74%. Best Buy's dividend payout ratio is 88.99%.

Analyst Ratings Changes

BBY has been the topic of several research analyst reports. UBS Group cut their price target on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday. Telsey Advisory Group reissued an "outperform" rating and issued a $90.00 target price on shares of Best Buy in a report on Friday. Wedbush dropped their price target on Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday. KeyCorp reaffirmed a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 5th. Finally, Morgan Stanley decreased their price objective on Best Buy from $100.00 to $85.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $86.11.

Insider Buying and Selling at Best Buy

In other news, CEO Corie S. Barry purchased 13,500 shares of Best Buy stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $72.92 per share, with a total value of $984,420.00. Following the completion of the transaction, the chief executive officer now directly owns 378,780 shares in the company, valued at $27,620,637.60. This trade represents a 3.70% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mathew Watson sold 3,182 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were 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 of the company's stock, valued at $1,370,051.22. This represents a 14.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,355 shares of company stock worth $5,767,213. 0.47% of the stock is currently owned by insiders.

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.