58,380 Shares in Best Buy Co., Inc. (NYSE:BBY) Acquired by Cullen Investment Group LTD.

Cullen Investment Group LTD. bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 58,380 shares of the technology retailer's stock, valued at approximately $4,570,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cary Street Partners Investment Advisory LLC boosted its position in shares of Best Buy by 549.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 357 shares of the technology retailer's stock worth $25,000 after buying an additional 302 shares during the period. Stonebridge Capital Advisors LLC grew its position in Best Buy by 81.9% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 411 shares of the technology retailer's stock worth $29,000 after purchasing an additional 185 shares in the last quarter. Hartford Financial Management Inc. grew its holdings in shares of Best Buy by 56.5% during the 4th quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer's stock valued at $30,000 after acquiring an additional 140 shares in the last quarter. Clear Street Markets LLC grew its holdings in shares of Best Buy by 90.6% during the 1st quarter. Clear Street Markets LLC now owns 385 shares of the technology retailer's stock valued at $30,000 after acquiring an additional 183 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its holdings in Best Buy by 30.5% in the third quarter. Clearstead Advisors LLC now owns 724 shares of the technology retailer's stock worth $46,000 after purchasing an additional 169 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Corie S. Barry sold 28,042 shares of Best Buy stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $81.80, for a total transaction of $2,293,835.60. Following the completion of the sale, the chief executive officer now directly owns 429,159 shares in the company, valued at $35,105,206.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Best Buy news, CEO Corie S. Barry sold 28,042 shares of Best Buy stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $2,293,835.60. Following the transaction, the chief executive officer now owns 429,159 shares in the company, valued at $35,105,206.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mathew Watson sold 3,520 shares of the company's stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $82.43, for a total transaction of $290,153.60. Following the transaction, the chief accounting officer now owns 22,118 shares in the company, valued at approximately $1,823,186.74. The disclosure for this sale can be found here. Insiders sold a total of 51,394 shares of company stock worth $4,206,247 over the last three months. 0.56% of the stock is owned by insiders.

Best Buy Price Performance

Best Buy stock traded down $1.71 during mid-day trading on Monday, hitting $76.29. 3,073,105 shares of the company traded hands, compared to its average volume of 3,046,400. The stock has a fifty day moving average price of $77.87 and a 200-day moving average price of $73.72. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $86.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 2.04 and a beta of 1.49.

Best Buy (NYSE:BBY - Get Free Report) last released its earnings results on Thursday, February 29th. The technology retailer reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.51 by $0.21. The firm had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $14.58 billion. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The company's revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.61 EPS. On average, equities analysts predict that Best Buy Co., Inc. will post 6.03 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were issued a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This is a positive change from Best Buy's previous quarterly dividend of $0.92. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.93%. Best Buy's dividend payout ratio (DPR) is 66.08%.

Analyst Ratings Changes

BBY has been the subject of a number of research analyst reports. Citigroup boosted their target price on shares of Best Buy from $67.00 to $76.00 and gave the stock a "sell" rating in a research report on Friday, March 1st. Telsey Advisory Group raised shares of Best Buy from a "market perform" rating to an "outperform" rating and increased their price target for the company from $85.00 to $95.00 in a research note on Wednesday, March 20th. Barclays increased their price target on shares of Best Buy from $69.00 to $88.00 and gave the company an "equal weight" rating in a research note on Friday, March 1st. UBS Group raised their price objective on shares of Best Buy from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Friday, March 1st. Finally, Wedbush lifted their price target on shares of Best Buy from $75.00 to $85.00 and gave the stock a "neutral" rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $84.60.

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.