Jump Financial LLC Purchases 4,706 Shares of Best Buy Co., Inc. (NYSE:BBY)

Jump Financial LLC increased its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 81.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,517 shares of the technology retailer's stock after buying an additional 4,706 shares during the period. Jump Financial LLC's holdings in Best Buy were worth $902,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC purchased a new position in Best Buy in the third quarter valued at about $5,234,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Best Buy during the 3rd quarter valued at approximately $247,000. Tidal Investments LLC boosted its stake in shares of Best Buy by 24.5% during the 3rd quarter. Tidal Investments LLC now owns 22,210 shares of the technology retailer's stock valued at $2,294,000 after buying an additional 4,370 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Best Buy by 36.5% during the third quarter. Franklin Resources Inc. now owns 753,471 shares of the technology retailer's stock worth $73,016,000 after buying an additional 201,562 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Best Buy by 0.7% in the third quarter. Retirement Systems of Alabama now owns 42,782 shares of the technology retailer's stock worth $4,419,000 after buying an additional 306 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Best Buy Price Performance

Shares of NYSE BBY traded up $1.71 during mid-day trading on Friday, reaching $67.71. 5,171,526 shares of the company traded hands, compared to its average volume of 3,311,327. The stock has a fifty day simple moving average of $72.39 and a 200-day simple moving average of $82.78. 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 firm has a market cap of $14.31 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 2.10 and a beta of 1.42. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, topping the consensus estimate of $2.40 by $0.18. The firm had revenue of $13.95 billion for the quarter, compared to analysts' expectations of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same period in the previous year, the business earned $2.72 earnings per share. Equities research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th were paid a dividend of $0.95 per share. The ex-dividend date was Tuesday, March 25th. This is a positive change from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.61%. Best Buy's dividend payout ratio (DPR) is currently 88.99%.

Insider Transactions at Best Buy

In other news, CEO Corie S. Barry acquired 13,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $72.92 per share, with a total value of $984,420.00. Following the purchase, the chief executive officer now owns 378,780 shares of the company's stock, valued at approximately $27,620,637.60. This trade represents a 3.70 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Todd G. Hartman sold 4,893 shares of the firm's stock in a transaction 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 sale, the insider now directly 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. Insiders have sold 78,355 shares of company stock valued at $5,767,213 over the last three months. Company insiders own 0.59% of the company's stock.

Analyst Ratings Changes

BBY has been the topic of a number of research analyst reports. Piper Sandler reduced their price objective on shares of Best Buy from $102.00 to $92.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. DA Davidson reiterated a "buy" rating and issued a $110.00 price target on shares of Best Buy in a research note on Monday, April 14th. Morgan Stanley cut their price objective on Best Buy from $100.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Bank of America lowered their price target on Best Buy from $80.00 to $75.00 and set an "underperform" rating for the company in a report on Wednesday, March 5th. Finally, Evercore ISI dropped their price target on Best Buy from $95.00 to $80.00 and set an "in-line" rating on the stock in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price 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.