Stonebrook Private Inc. Makes New $1.30 Million Investment in Best Buy Co., Inc. (NYSE:BBY)

Stonebrook Private Inc. acquired a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,590 shares of the technology retailer's stock, valued at approximately $1,299,000.

Other hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC increased its stake in Best Buy by 8.4% in the 4th quarter. Cerity Partners LLC now owns 103,459 shares of the technology retailer's stock valued at $8,100,000 after purchasing an additional 8,042 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in Best Buy during the 4th quarter valued at $317,000. Mirabella Financial Services LLP acquired a new stake in Best Buy during the 3rd quarter valued at $831,000. Van ECK Associates Corp grew its holdings in Best Buy by 35.6% during the 3rd quarter. Van ECK Associates Corp now owns 94,282 shares of the technology retailer's stock valued at $6,550,000 after buying an additional 24,763 shares during the last quarter. Finally, abrdn plc grew its holdings in Best Buy by 12.5% during the 4th quarter. abrdn plc now owns 770,020 shares of the technology retailer's stock valued at $60,277,000 after buying an additional 85,286 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Best Buy

In other news, insider Todd G. Hartman sold 3,973 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 transaction of $324,991.40. Following the sale, the insider now directly owns 25,912 shares of the company's stock, valued at $2,119,601.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Todd G. Hartman sold 3,973 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 transaction of $324,991.40. Following the sale, the insider now directly owns 25,912 shares of the company's stock, valued at $2,119,601.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Corie S. Barry sold 366 shares of Best Buy stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total value of $27,728.16. Following the sale, the chief executive officer now directly owns 431,231 shares in the company, valued at $32,670,060.56. The disclosure for this sale can be found here. Insiders have sold 52,023 shares of company stock valued at $4,253,900 over the last three months. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BBY shares. Jefferies Financial Group lowered their target price on Best Buy from $95.00 to $94.00 and set a "buy" rating on the stock in a report on Monday, April 8th. Wedbush increased their target price on Best Buy from $75.00 to $85.00 and gave the company a "neutral" rating in a report on Friday, March 1st. The Goldman Sachs Group raised their price objective on Best Buy from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, March 1st. TheStreet upgraded Best Buy from a "c" rating to a "b-" rating in a report on Thursday, February 29th. Finally, Citigroup raised their price objective on Best Buy from $67.00 to $76.00 and gave the stock a "sell" rating in a report on Friday, March 1st. One 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $84.60.

Best Buy Stock Down 0.3 %

NYSE:BBY traded down $0.19 during mid-day trading on Friday, hitting $75.05. The company had a trading volume of 2,125,289 shares, compared to its average volume of 2,398,775. The business has a fifty day simple moving average of $78.02 and a 200-day simple moving average of $74.17. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 1 year low of $62.30 and a 1 year high of $86.11. The firm has a market capitalization of $16.16 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.96 and a beta of 1.49.

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

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 21st were given 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 annualized dividend and a yield of 5.01%. Best Buy's dividend payout ratio (DPR) is 66.08%.

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.