73,583 Shares in Best Buy Co., Inc. (NYSE:BBY) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 73,583 shares of the technology retailer's stock, valued at approximately $5,760,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth Retirement Investments LLC increased its stake in Best Buy by 2.4% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 35,109 shares of the technology retailer's stock valued at $2,748,000 after purchasing an additional 814 shares in the last quarter. Private Trust Co. NA increased its stake in Best Buy by 19.4% in the fourth quarter. Private Trust Co. NA now owns 4,669 shares of the technology retailer's stock valued at $365,000 after purchasing an additional 757 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. increased its stake in Best Buy by 8.2% in the fourth quarter. Comprehensive Financial Consultants Institutional Inc. now owns 38,578 shares of the technology retailer's stock valued at $3,020,000 after purchasing an additional 2,916 shares in the last quarter. Arizona State Retirement System increased its stake in Best Buy by 0.5% in the fourth quarter. Arizona State Retirement System now owns 53,835 shares of the technology retailer's stock valued at $4,214,000 after purchasing an additional 256 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in Best Buy by 31.0% in the fourth quarter. Ballentine Partners LLC now owns 4,740 shares of the technology retailer's stock valued at $371,000 after purchasing an additional 1,121 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on BBY. Jefferies Financial Group decreased their target price on shares of Best Buy from $95.00 to $94.00 and set a "buy" rating for the company in a research report on Monday, April 8th. JPMorgan Chase & Co. raised shares of Best Buy from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $89.00 to $101.00 in a research report on Friday, March 22nd. Barclays boosted their target price on shares of Best Buy from $69.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Friday, March 1st. TheStreet raised shares of Best Buy from a "c" rating to a "b-" rating in a research report on Thursday, February 29th. Finally, Wedbush upped their price objective 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $84.60.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 3,520 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $82.43, for a total value of $290,153.60. Following the sale, the chief accounting officer now directly owns 22,118 shares in the company, valued at approximately $1,823,186.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Todd G. Hartman sold 3,973 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $324,991.40. Following the transaction, the insider now owns 25,912 shares of the company's stock, valued at approximately $2,119,601.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mathew Watson sold 3,520 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $82.43, for a total transaction of $290,153.60. Following the completion of the transaction, the chief accounting officer now directly owns 22,118 shares in the company, valued at approximately $1,823,186.74. The disclosure for this sale can be found here. Insiders have sold 51,394 shares of company stock worth $4,206,247 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

Best Buy Stock Performance

Shares of BBY stock traded down $1.11 during trading on Tuesday, reaching $75.18. 3,934,069 shares of the company's stock traded hands, compared to its average volume of 3,058,189. The company has a market capitalization of $16.19 billion, a P/E ratio of 13.21, a PEG ratio of 2.04 and a beta of 1.49. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38. The firm's 50-day moving average is $77.92 and its 200 day moving average is $73.81. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $86.11.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.51 by $0.21. The company had revenue of $14.65 billion for the quarter, compared to analysts' expectations of $14.58 billion. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. Best Buy's revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.61 EPS. Equities research analysts expect that Best Buy Co., Inc. will post 6.03 EPS for the current year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were paid a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This is a boost from Best Buy's previous quarterly dividend of $0.92. This represents a $3.76 annualized dividend and a yield of 5.00%. Best Buy's dividend payout ratio is currently 66.08%.

About Best Buy

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.